Flare company info

What does Flare do?
Flare (CRYPTO:FLR), a Layer 1 blockchain, extends its capabilities to the XRP Ledger (XRPL), enabling the implementation of smart contracts. It relies on the Flare Consensus Protocol, a unique hybrid of Proof-of-Work (PoW) and Proof-of-Stake (PoS), to secure the network and validate transactions. This technology integration not only bolsters XRPL's potential but also paves the way for innovative services and features. Among these offerings, Flare introduces smart contracts to XRPL, opening the door to a diverse range of decentralized applications (dApps) developed by creative minds in the blockchain space. The Flare Time Series Oracle (FTSO) stands as a decentralized real-world data feed, empowering Flare dApps with accurate, timely information. FXRP, a synthetic XRP token native to the Flare network, facilitates transactions, covers gas fees, and fuels interactions with Flare dApps. Flare's overarching goals encompass enhancing XRPL's programmability through smart contracts, ensuring a decentralized and secure data source for Flare dApps, and fostering a dynamic ecosystem of dApps and financial services on XRPL. Although a newcomer in the blockchain arena, Flare has rapidly gained attention thanks to its innovative technology and a strong, supportive community. Its journey to redefine the possibilities of XRPL is one to watch.
Company Snapshot

How many people does Flare employ?

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Employees
50+

What is the market cap for Flare?

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Market Cap
$1.11B

Where is the head office for Flare?

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Head Office
Tortola, Virgin Islands

What year was Flare founded?

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Year Founded
2019
What does Flare specialise in?
/Layer 1

What are the products and/or services of Flare?

Overview of Flare offerings
Flare Finance: Flare Finance is a suite of DeFi applications that are built on the Flare network. Flare Finance includes a variety of products, such as a lending platform, a borrowing platform, and a stablecoin.
Flare FX: Flare FX is a decentralized exchange (DEX) that allows users to trade assets on the Flare network. Flare FX is known for its low fees and fast transaction times.
Flare network. The Flare Grants Program is designed to help accelerate the development of the Flare ecosystem.
Flare Time Series Oracle: The Flare Time Series Oracle is a decentralized oracle that provides access to real-world data on the Flare network. This data can be used by smart contracts to trigger events, automate payments, and make other decisions.
FlareXRP: FlareXRP is a bridge between the Flare network and the XRP Ledger. It allows users to transfer XRP tokens to the Flare network, where they can be used to participate in DeFi and other applications.
State Connector: The State Connector is a bridge between the Flare network and the Ethereum network. It allows users to transfer assets between the two networks, and it also allows Ethereum smart contracts to interact with the Flare network.
These services make Flare a powerful platform for developers and users who are looking to build and use DeFi applications.