Flare Labs, a Ripple Labs-backed blockchain for data network has recently announced plans to revolutionize the utility of Bitcoin (BTC), XRP, and Dogecoin (DOGE) through its innovative FAssets system. This development marks a huge step forward for the blockchain space, as Flare Network aims to bring new purpose and functionality to these established cryptocurrencies. 

Ripple Labs가 지원하는 데이터 네트워크용 블록체인인 Flare Labs는 최근 혁신적인 FAssets 시스템을 통해 비트코인(BTC), XRP 및 Dogecoin(DOGE)의 유용성을 혁신하겠다는 계획을 발표했습니다. Flare Network는 확립된 암호화폐에 새로운 목적과 기능을 제공하는 것을 목표로 하고 있기 때문에 이번 개발은 블록체인 공간에 큰 진전을 가져왔습니다.

FAssets: a Gateway to New Possibilities

According to the announcement, the FAssets system will empower users to earn yield in Decentralized Applications (dApps) on the Flare Network or bridge their assets to other ecosystems using the innovative LayerCake protocol. The latter, described as an insured-in-transit bridging and cross-network composability protocol, offers users a seamless and secure means of connecting with different blockchain networks.

The multi-asset backing structure of FAssets ensures stability and security, making it a trustless gateway for non-smart contract assets to participate in Decentralized Finance (DeFi) or Non-Fungible Token (NFT) ecosystems.

The announcement comes on the heels of recent massive selloffs in the crypto market. As noted in an earlier report, Bitcoin fell 7%, while popular altcoins including XRP, and DOGE saw major selling within minutes.

이번 발표는 최근 암호화폐 시장에서 대규모 매도가 발생한 직후에 나온 것입니다. 이전 보고서에서 언급했듯이 비트코인은 7% 하락한 반면 XRP 및 DOGE를 포함한 인기 있는 알트코인은 몇 분 만에 큰 매도를 기록했습니다.

Notably, Flare Network, as an EVM-compatible Layer-1, is designed to enhance interoperability and usability in the blockchain space. With oracles secured by the network, Flare aims to enable open, decentralized, and safe interoperability not only between blockchains but also between blockchains and Web2 APIs. 

The goal is to simplify the process of building dApps by providing developers with the tools and protocols needed to securely access diverse data.

목표는 개발자에게 다양한 데이터에 안전하게 액세스하는 데 필요한 도구와 프로토콜을 제공하여 dApp 구축 프로세스를 단순화하는 것입니다.

Flare Network: Core Protocol

Flare Network’s two core protocols, the State Connector and Flare Time Series Oracle (FTSO), play a crucial role in operationalizing EVM-based smart contracts and the associated dApps. 

The State Connector facilitates the secure acquisition of time series data, including cryptocurrency price data, and event data from other blockchains and Web2 APIs. The FTSO ensures the provision of accurate and trustless data by incentivizing independent decentralized nodes to contribute.

The recent collaboration between Flare Network and Bloxico, a leading blockchain service company, adds another layer of innovation to the ecosystem. Bloxico’s expertise will introduce a Reputation Score to the Flare network, enabling community members to assess and choose the best infrastructure providers and decentralized oracles to allocate their capital.

Flare Network와 선도적인 블록체인 서비스 회사인 Bloxico 간의 최근 협력은 생태계에 또 다른 혁신을 추가합니다. Bloxico의 전문 지식은 Flare 네트워크에 평판 점수를 도입하여 커뮤니티 구성원이 최고의 인프라 제공업체와 분산형 오라클을 평가하고 선택하여 자본을 할당할 수 있도록 합니다.

The post Flare Network to Bring New Utility to BTC, XRP, and DOGE appeared first on CoinGape.

BTC, XRP 및 DOGE에 새로운 유틸리티를 제공하는 포스트 Flare Network가 CoinGape에 처음 등장했습니다.