Flare (FLR) - JPY

The Flare Network is a distributed network whereby nodes run the Avalanche consensus protocol with a key adaptation to a Federated Byzantine Agreement (FBA) consensus topology. The Flare Network leverages the Ethereum Virtual Machine (EVM), enabling the network to run Turing complete smart contracts. The combined usage of the FBA consensus topology with a Turing complete smart contract layer makes Flare a scalable public smart contract network that does not require a native token for safety. This is a useful property as the cost to attack network safety in networks that do leverage a token for safety is related to the speculative value of the token, therefore facilitating an incentive in these networks to create a double-spend attack whereby the cost of an attack is lower than the reward from the successful double-spend.

Spark is the native token of the Flare Network, designed to offer smart contract functionality to XRP, but on a separate blockchain

Flare’s native token, the Spark, is required for spam control at the network level. Because the safety of the network is not contingent on the token itself, Spark can be used in ways which would be unsafe for other networks. First, Spark can be used as collateral within applications. Second, Spark as a contributor, but not the sole contributor, to an oracle providing on-chain time series data estimates, called the Flare Time Series Oracle (FTSO). Third, Spark as a governance methodology across all elements that rely on it. These three components form the building blocks of a collection of applications that can be built using Spark, termed Spark Dependent Applications (SDA’s). Furthermore, as the network doesn’t require staking or computation returns for safety, the FTSO becomes the inflation function for Spark itself.

SPARK:

Collateral for the trustless issuance of assets from non-Turing complete chains, Starting with XRP
Contributes to the Flare time series oracle & network governance, Spark ownership secures, improves and guides the network.
Created by a utility fork of XRP, Directly increasing utility of XRP and XRPL. No ICO. No competing interests.

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