Flare Network, the blockchain network based on the Flare Consensus Protocol has announced the release dates for its mainnet launch. The long-awaited mainnet launch of Flare (FLR) blockchain is set for by the end of June, as per the development team behind Flare blockchain.
Flare Network Mainnet Launch to Go Live by June End
The development team behind Flare blockchain has shared in an official announcement that the mainnet launch of the Flare network is set to go live sometime by the end of June.
Likewise, the distribution of the FLR tokens will only start once the Flare Network is all set up. The team ensured that the distribution of the token will be done as safely as possible. The exact date and time for the distribution of the FLR tokens will take dependent on finishing the security testing.
Meanwhile, Flare (FLR) is currently undergoing testing within the second iteration of its testnet, Coston.
The first phase of the mainnet took a step back due to some issues with the Metamask synchronization. Its nodes were updated to version v1.3.1 of the Avalanche (AVAX) consensus.
The blockchain project has already gathered strong support from the pioneers of the crypto industry. Recently, its DeFi-based Flare Finance (DFLR) had its airdrop supported by the major exchange, Bitrue.
Meanwhile, Flare now has its first NFT platform, thanks to Sparkles NFT platform’s plan of utilizing Flare as its core technology.
Flare Network Supports EVM Compatibility
Flare is a new type of blockchain that utilizes digital assets such as XRP, LTC, DOGE, XLM to help settle smart contract transactions using the Ethereum Virtual Machine running on Flare Nodes. Flare Network is a new way to scale networks that don’t support smart contracts capability.
It can be used to create two-way bridges between networks, such as Ethereum and the XRP Ledger. This means even the XRP token can be used with smart contracts.
Flare uses a consensus protocol called Avalanche, which has been adapted to work with Federated Byzantine Agreement (FBA). FBA is a consensus mechanism used by networks such as the XRPL and Stellar.