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Flare FLR Price

$0.027

3.88%

$0.026

24h Range

$0.029

Market Cap

$1,534,506,350.0

Fully Diluted Valuation

$2,789,617,160.6

24 Hour Trading Vol

$26,931,621.0

Circulating Supply

56,955,475,840.5

Total Supply

102,934,408,153.6

Max Supply

Info

FLR Price Statistics

Flare Price

$0.027

24h Range

$0.026 - $0.029

Percent Change 1h

1.18%

Percent Change 24h

3.88%

Percent Change 7d

15.67%

All-time high

$0.150

All-time low

$0.008274

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About Flare

What is Flare (FLR)?

Flare (FLR) is a layer-1 blockchain designed to bring smart contract functionality to non-smart contract blockchains. Launched in 2021, Flare aims to enhance the interoperability between various blockchains, enabling the use of digital assets across different networks without the need for centralized exchanges. The Flare network supports the Ethereum Virtual Machine (EVM), allowing developers to deploy Ethereum-compatible smart contracts while also facilitating the integration of assets from chains like XRP, Litecoin, and Bitcoin. The native token, FLR, is used for governance, staking, and paying transaction fees within the network.

Who are the Founders of Flare?

Flare was co-founded by Hugo Philion, the CEO, alongside other key figures including Sean Rowan, the CTO, and other team members with backgrounds in blockchain technology and software development. Hugo Philion has been active in the crypto space for over a decade and has previously contributed to various blockchain projects. The team is complemented by advisors and developers with extensive experience in decentralized finance (DeFi) and blockchain interoperability.

How does Flare Work?

Flare operates using a unique consensus mechanism called the Federated Byzantine Agreement (FBA), which allows for quicker and more secure transactions compared to traditional proof-of-work or proof-of-stake models. This mechanism enables the network to achieve consensus without requiring miners, thus reducing energy consumption. Flare also utilizes the State Connector, a protocol that enables real-time data transfer from external blockchains, allowing smart contracts on Flare to access and utilize off-chain data. Additionally, Flare's Flare Time Series Oracle (FTSO) provides accurate and decentralized price feeds, essential for DeFi applications.

Top Use Cases of Flare

Flare presents several use cases, particularly in enhancing blockchain interoperability and DeFi applications:

  • Decentralized Finance (DeFi): Flare enables the creation of decentralized applications (dApps) that leverage assets from various blockchains, increasing liquidity and accessibility.
  • Cross-chain Asset Transfers: Users can deploy assets from non-smart contract chains like XRP and Litecoin on the Flare network, allowing for smart contract interactions.
  • Tokenized Assets: Flare allows users to create tokenized versions of assets, enabling them to use their existing holdings in DeFi protocols.
  • Governance: FLR token holders can participate in the governance of the network, voting on proposals that affect the ecosystem.
  • Data Oracles: The FTSO can be utilized by dApps to obtain reliable data, facilitating more complex financial instruments and applications.

How to Keep your Flare Safe?

To keep your Flare (FLR) tokens safe, consider the following practices:

  • Use Hardware Wallets: Store your FLR in hardware wallets like Ledger or Trezor for enhanced security against hacks.
  • Enable Two-Factor Authentication (2FA): When using exchanges or wallets, enable 2FA to add an extra layer of security.
  • Regularly Update Software: Keep your wallet software and related applications updated to protect against vulnerabilities.
  • Be Wary of Phishing: Avoid clicking on links from unknown sources and verify website URLs before entering sensitive information.
  • Backup Your Wallet: Regularly back up your wallet and store the recovery phrases in a secure location away from your devices.

How to Invest in Flare (FLR)?

Investing in Flare (FLR) or any other cryptocurrency involves several steps:

1Choose a Reliable Exchange: Select a reputable cryptocurrency exchange platform like Coinbase, Binance, or Okx. These platforms allow you to buy, sell, and trade cryptocurrencies.

2Create an Account: Sign up for an account on your chosen exchange by providing the necessary personal information and completing the verification process.

3Fund Your Account: Deposit funds into your exchange account using various methods like bank transfers, credit/debit cards, or wire transfers.

4Buy Flare: Once your account is funded, you can purchase Flare directly from the exchange. Choose the desired amount and complete the transaction.

Investing in Flare (FLR) Using Botsfolio:

Botsfolio is a platform that automates cryptocurrency investments using trading bots. To invest in Flare using Botsfolio, follow these steps:

  • Create a Botsfolio Account: Sign up for a free account on the Botsfolio platform.
  • Create Portfolio: Select an investment type from available options such as Premade crypto portfolios OR Custom crypto portfolio.
  • Connect Your Exchange: Link your chosen cryptocurrency exchange account to Botsfolio through fast connect or API key to enable seamless investing.

Botsfolio allows you to automate your cryptocurrency investments, potentially saving time and effort while optimizing your trading strategies.

What is the Price Prediction for Flare (FLR) in the Long Term?

Flare (FLR) is currently trading at $0.027 and exhibits good potential for future growth. Check the latest Flare (FLR) price prediction.

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