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Flare (FLR) Price
FLR
$0.03092795
Market cap
1,692,816,802.0
Total volume
29,236,722
Circulating supply
54,733,655,735
Total supply
102,814,366,074
## Introducing Flare (FLR)
At its core, Flare presents itself as a Layer 1 blockchain constructed on the Ethereum Virtual Machine (EVM). It offers a unique platform for developers aiming to craft applications that ensure smooth interoperability across blockchains and the digital space. Flare sets the stage for the revolutionary integration of high-integrity data in a decentralized manner, paving the way for novel applications and revenue-generation models.
## The Distinct Features of Flare
The essence of Flare's distinction lies in its native interoperability solutions, namely the State Connector and the FTSO. These are fortified by the network, enabling the seamless and decentralized transmission of diverse off-chain data.
Through the Flare Time Series Oracle, applications on Flare are fed with decentralized, accurate data and price readings, eliminating reliance on centralized entities.
Furthermore, the State Connector augments the ability of smart contracts on Flare to securely, efficiently, and trustlessly interact with data from both the blockchain universe and the internet.
This decentralization of data infrastructure, deeply embedded into the blockchain's framework and supported by a vast network of independent data providers, significantly reduces risk.
The ecosystem thrives by motivating a diverse group of providers to collate, process, and deliver data autonomously, eschewing central data sources. This approach unlocks the potential for crafting interoperable decentralized applications (dapps) that could revolutionize multiple sectors.
## Utility of the Flare (FLR) Token
FLR stands as the foundational token within the Flare network, facilitating transactions, shielding against spam through fee mechanisms, and enabling stakeholding in validator nodes. Additionally, FLR tokens can be transformed into an ERC-20 version, known as WFLR. WFLR tokens extend their utility further; they can be designated for FTSO data providers or deployed in governance activities. This flexibility ensures that the tokens’ utility is not confined to singular uses and that they remain adaptable for integration in various EVM-compatible dapps and smart contracts on the Flare network.
The creation of Wrapped FLR (WFLR) is achieved by depositing native FLR tokens into a dedicated smart contract, from which the equivalent WFLR tokens are then issued.
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