• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Breaking News: KyberSwap Hacker Demands Full Control, Sets December 10th Deadline
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: KyberSwap Hacker Demands Full Control, Sets December 10th Deadline

Flare Celebrates Genesis Event With Open Invitation to Blockchain Devs

Bitcoinist by Bitcoinist
1 year ago
in Industry
0

Flare, the interoperable layer 1 blockchain, is finally open for business. Its genesis event kicked off on July 14, initiating an eight-week bedding-in period before things kick into high gear with a token generation event. Before then, there’s a lot of action to take in, with new validators joining the network and a grants program rewarding devs interested in building Flare’s first dApps.

For Flare CEO Hugo Philion, this moment has been a long time in the making. In a statement, he enthused: “I’m excited to welcome projects to the network and see the creative ways builders will harness Flare’s cross-chain composability and Web2 data in their dapps. I encourage anyone about to start a new Web3 project to take a look at Flare’s technology.”

That technology includes a State Connector, which unites on- and off-chain data sources, and the Flare Time Series Oracle (FTSO) which provides external prices in a decentralized manner. For assets like XRP, for example, which will be represented on the network, the FSO will ensure that the corresponding asset is accurately priced on Flare at all times. For end users of Flare Network, meanwhile, there are more tangible concerns to get to grips with, starting with a TGE in mid-September when the Flare token will finally debut.

When Flare Token?

As noted, the “observation mode” which follows the genesis event will run for eight weeks. Once this is out of the way, there will be a token generation event (TGE) that marks the culmination of over two years’ development. Marked as part of FL02, which has been enshrined in the Flare roadmap for several months now, the TGE will see 15% of Flare’s total token supply issued. Distributing these tokens will be enough to enable Flare’s native token to start trading, but what of the remaining 85%?

The majority of these tokens will only be distributed once a governance vote has ratified the measure. As the documentation describing Flare’s rollout process explains, “The governance vote for this proposal will only take place once 75% of the initial 15% distribution is freely available to take part in the governance vote. In the case of exchanges, this means that the token will have been distributed and can be withdrawn from the exchange.”

Builders Gonna Build

Before the TGE gets underway, Flare is rolling out the red carpet to developers. Its developer adoption program starts in August. Aspiring dev teams – or solo coders – are invited to submit proposals for dApps they’d like to create on Flare. It’s likely that successful submissions will make use of the network’s FTSO and State Connector, perhaps creating markets for trading non-native assets, be it XRP or BTC, on the new layer1. As Flare puts it, “the only limitation is your imagination.” If developers can dream and create it, Flare Foundation can provide the funding to help bring the concept into reality.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Bitcoinist

Bitcoinist

Bitcoinist is the ultimate news and review site for the crypto currency community!

Related Posts

Bloomberg Analyst Says SEC To Approve All Spot Bitcoin ETFs In January 2024; Bitcoin and Ripple Are Tokens To Monitor

Bloomberg Analyst Says SEC To Approve All Spot Bitcoin ETFs In January 2024; Bitcoin and Ripple Are Tokens To Monitor

9 hours ago
A New Token That Is Gaining Massive Attention From Bitcoin (BTC) and Chainlink (LINK) Whales – The Untold Story Revealed

A New Token That Is Gaining Massive Attention From Bitcoin (BTC) and Chainlink (LINK) Whales – The Untold Story Revealed

9 hours ago
New Altcoins Unique Token Burn Utility To Rival Ripple and Ethereum’s utility

New Altcoins Unique Token Burn Utility To Rival Ripple and Ethereum’s utility

2 days ago
Breaking; Dogecoin Moon Mission Gets Approval, Shiba Inu Burn Rate Spikes 500,000%

Breaking; Dogecoin Moon Mission Gets Approval, Shiba Inu Burn Rate Spikes 500,000%

2 days ago
Solana Hits New Daily Transaction Record, Analyst Shares Bullish Price Prediction for Ethereum

Solana Hits New Daily Transaction Record, Analyst Shares Bullish Price Prediction for Ethereum

2 days ago
7 New Cryptocurrency To Invest In 2024

7 New Cryptocurrency To Invest In 2024

2 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
Inmerion
Inmerion

Press Releases

  • Wish You’d Invested in BTC and ETH Sooner? Experts Say...

    10 hours ago
  • Market Rallies Post-Holiday. Fake-Out or Are Bulls Back in...

    12 hours ago
  • The Best Altcoins to Invest in? Cardano, Polygon, and...

    1 day ago
  • Top 3 Affordable Cryptos Worth Buying Next Week

    2 days ago
  • 3 High Growth Cryptos To Buy Now

    2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.