The Flare Network is the first Turing-complete Federated Byzantine Agreement (FBA) network. Its nodes run the Avalanche consensus protocol with a key adaptation to the FBA consensus topology, which is used for its high throughput, network scalability, and low transaction costs. Furthermore, the network leverages the Ethereum Virtual Machine (EVM), enabling it to run computationally universal smart contracts.
"Unleashing Value; ~65% of the value of blockchain tokens is inaccessible to decentralised applications - that changes now."
Source: Flare Whitepaper
The challenge: seamless launch of the network
The launch of the Flare network was scheduled to take place in the summer of 2021. Before the launch, all building blocks of the infrastructure needed to be integrated, customized, developed, verified, audited, and improved.
-
Blockchain technologies Blockchain technologies
Integration of new blockchain technologies.
-
Smart contracts Smart contract development
Development and extensive testing of FTSO system and F-Assets contracts.
-
Performance improvements Performance improvements
Monitoring the infrastructure's performance and improvements.
-
Network security Network security
Design and implementation with strong security considerations, extensive testing and verification against known attack vectors.
The solution: smart contracts for Flare Network
Flare token (FLR) is the network's native token used as a gas for paying transaction fees on the Flare Network. Additional tokens that represent other assets (called F-Assets) also exist, such as a representation of XRP called FXRP.
The Flare Time Series Oracle (FTSO) is a decentralised on-chain protocol that gathers price (and data) signals of off-chain assets and submits them to the Flare blockchain for calculation by other smart contracts. FTSO acts as an inflation mechanism for the network, increasing the FLR token supply for rewarding data providers. In this sense, it is the equivalent of mining, it serves as an economic incentive for FLR token holders to act honestly and provide value and trust to the blockchain. New FTSO contracts will be deployed for any new data signal supported by the Flare Network, as determined by governance.
Any FLR or F-asset holder can vote on governance issues raised by the community, or they could choose to delegate their votes to whomever they believe will provide honest votes. The votes (for the oracle and for the governance) can be delegated (in part or in whole) to another address without transferring the tokens themselves. In return, the network might reward them with newly minted FLRs in exchange for their service. Similarly, WFLR tokens are wrapped Flare tokens used for delegation and governance.
The result
Together with our partner ACEX d.o.o. developed smart contracts in Solidity for different parts of the Flare Network, specifically FTSO, data providing, rewards, governance, delegation, and F-Assets.
Information about how Flare works at the network-level is available here, including:
- how to become a validator on Flare,
- integrating underlying blockchains to Flare,
- getting started with the Coston testnet.
Code repository is available here.
Project partners
- ACEX d.o.o.
- Flare Networks Limited
Similar projects
- Flare network - We are a core part of the Flare team, providing ongoing development of smart contracts for Flare Network for several decentralised on-chain mechanisms. We also provide the system's integrity and utility, leverage the distributed nature of the network, and enable its participants to act honestly while providing value and trust to the blockchain.
- INATrace in Rwanda - We developed a blockchain-based transparency and traceability technology, that makes coffee traceable from its production to the final package. The system confirms the coffee’s origin and quality, together with the fairness of its value chain, by tracking it all the way from the farmer to the end consumer.
- e-Su Register - We upgraded the e-Su Register information system by developing new functionalities, implementing EU standards and enabling parallelization to optimize the digital processes it supports
- One Stop Shop - SPOT - An all-in-one digital system that provides a supportive environment for entrepreneurs and easier access to all relevant information and funding. The platform was created and rolled out in cooperation with a public agency.
- GoOpti - A digital transformation of a transportation business into a cloud-based transportation marketplace, based on advanced algorithms. It’s a sustainable solution loved by end customers, as shown by the 93% satisfaction rate.
- 8ECM - We developed the congress’ website, digitalized processes, added analytics, and implemented its payment system.
- Multimedia portal SIO 2020 - We created a sustainable solution with three user-friendly, secure, and widely available platforms for video communication and management.
- ACE.Trade - We developed an entry-level app for crypto trading. It simplifies the first steps in the crypto world for initiatives and first time traders, while staying compliant with regulations.
- TAS - We actively participated in developing a Toronto Annotation Platform - a web-based application that allows for larger, more efficient, and more accurate data annotation projects.
- eSpis - Development and implementation of a digital system for reviewing court case files with support for search and filter functions to accelerate the process
- EO x Grid - Enhancing grid stability and renewable energy integration through accurate space-based PV forecasting. Funded under the European Space Agency's (ESA) ARTES 4.0 Downstream Applications program.
- EDISON WINCI - A project for developing the infrastructure, competencies, and elements of business models for logistical systems of contactless-charging electric vehicles.
- DIGITRUST - A digital transformation of a business with innovative digital solutions and a decentralized system
- Digital Solutions for Sustainable Cattle Farming - Developing advanced digital solutions that will help address the challenges of modern cattle farming. The main goal is to manage herds efficiently, improve animal welfare, and increase farm profitability by introducing advanced digital solutions.
- Di-Gozd - Development of an online and mobile application for a digital forest inventory
- ARRS J1-2481 - Mathematical and computational methods for polyhedral self-assembly.
- Phot2Bin - Detection of multiple stellar systems from single-epoch photometry.
- SOPOS - System for limiting the transmission of infections in buildings
- Photo2Chem - Stellar chemistry from photometric narrow-band imaging
- Infrastructure program I0-0047 - Upgrading services, providing support and maintaining scientific infrastructure
- Program group P1-0294 - Computationally intensive methods in theoretical computer science, discrete mathematics, combinatorial optimization, and numerical analysis and algebra with applications in natural and social sciences.
- KumuluzAPI - Establishing an API ecosystem of smart cities and communities
- PLASMA - A project for developing a banking and trading platform, upgraded with an innovative connection between the financial, fintech, and crypto worlds.
- SCI Journals - Managing, editing and hosting scientific and professional publications
- Kumuluz Crowdsensing - Researching new technologies for automatic data collection and the measurement of crowd data
- AI-FINREG - Regulation of modern FinTech services and protection of personal data
- Z7-7614 - Large networks in business systems analytics
- Z7-8271 - Improving the defibering process of mineral wool
- KKIPP - 4PR - A tool for creating intelligent digital technology platforms
- Da.Re. - The use of data science to restructure education