Four professional infrastructure providers, Ankr, Figment, Restake, and NorthStake, have joined the Flare Network, to serve as native oracle data suppliers and validators. The move will strengthen Flare as it focuses on providing developers with fully decentralised, scalable, and inexpensive access to the most comprehensive data set by merging validation with data provision.
A watershed moment for Flare
Notably, this is a significant moment for Flare, as it becomes the first smart contract platform where these institutional validators also supply decentralised data feeds to network builders. The Flare network currently has 91 network validators located across the world, and they all provide data to the Flare Time Series Oracle (FTSO). This effectively places FTSO among the leasing oracles in the market in terms of reliability and decentralisation for use by developers.
Anuj Shankar, CEO of Luga Nodes said, “It’s not something we’ve done before, but being part of the Flare ecosystem as both a validator and a data provider to their native oracle aligns perfectly with our mission to provide reliable and secure blockchain infrastructure solutions.”
Flare is an EVM smart contract platform that enhances the utility of blockchain, a factor that has enabled it to market itself as the blockchain for data.ALso, the network serves as an industrial utility layer for blockchain by facilitating the development of new and enhanced use cases. It does this by providing developers with trustless access to the most extensive datasets at scale and at low cost.
It is essential for many decentralised systems to securely incorporate real-world data through oracles. This is the strategy that Flare has adopted in an effort to expand the capabilities of blockchain technology by developing new use cases with a much more diverse set of decentralised data.
This post was last modified on Dec 07, 2023, 16:00 GMT 16:00