Flare – EVM-based layer 1 blockchain

Flare is a blockchain for data. It is a layer 1, EVM smart contract platform designed to extend the utility of blockchain.

The network is built using two open native interoperability protocols.

State Connector and Flare Time Series Oracle (FTSO), which enable on-chain distributed acquisition of blockchain and time-series data, respectively. State Connector enables decentralized consensus on the state of external blockchains and enables on-chain retrieval of external blockchain data.

of status connector Enables the state of external blockchains to be captured on-chain in a decentralized manner. This is achieved using his two core protocols: Request-Commit-Reveal (RCR) and Branching Protocol.

Request, Commit, Publish (RCR)– The RCR protocol allows users to send requests called attestation requests to Flare to retrieve information from another blockchain.

of FTSO is a decentralized protocol aimed at generating accurate estimates of off-chain time series data on the Flare Network. Provides continuous estimation of changing data such as price pairs.

Consensus mechanism –

The Flare Consensus Protocol (FCP) is a new version of the Federal Byzantine Agreement (FBA) consensus. This is an asynchronous, ordered, leaderless version of Federal Byzantine Agreement (FBA) consensus. FCP is leaderless, asynchronous Byzantine fault-tolerant, has ordered transactions, and uses a new network complexity reduction technique called federated virtual voting, making it highly scalable.

FLRUSD price has increased over 75% in the past two weeks. It reached a high of $0.0497 and is currently trading around $0.0445. The pair remains above the short-term (21-day and 55-day EMA) and above the long-term moving average (200-day EMA).

Near-term resistance is around $0.06, and a break above this will take the pair to $0.08/$0.10. At the lower bound, the immediate support is at $0.0340, below which he will be targeted at $0.0280/$0.020.

Indicator (4 hour chart)

Directional movement indicators – bullish

If TP is $0.080, it is better to buy SL at a push around $0.0280 or $0.0350.

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