blockchainreporter.net
Flare, the cutting-edge smart contract platform, has taken a monumental step towards revolutionizing decentralized data access by onboarding renowned infrastructure providers Ankr, Figment, Restake, and NorthStake. This collaboration signifies a paradigm shift in the blockchain landscape, as these institutional validators not only serve as validators but also as data providers for Flare‘s native oracles, marking the first instance of such integration on a smart contract platform.
Flare’s innovative approach involves merging validation processes with data provision, presenting developers with an unprecedented opportunity for fully decentralized access to an extensive array of data, all at scale and with minimal cost implications. In the realm of decentralized applications, secure integration of real-world data through oracles is crucial, and Flare is spearheading the expansion of blockchain possibilities by offering a broader spectrum of decentralized data.
Creating a Fully Decentralized Data Frontier
The current roster of 91 network validators worldwide, including Ankr, Figment, Restake, and NorthStake, double up as data providers for the Flare Time Series Oracle (FTSO). This consolidation establishes the FTSO as one of the most decentralized and reliable oracles accessible to developers, solidifying Flare’s commitment to fostering a robust and secure data ecosystem.
Hugo Philion, CEO and Co-founder of Flare, expressed enthusiasm about the latest collaboration, stating, “The fact that institutional validators of the quality and scale of Ankr, Restake and Luga Nodes are willing to extend their business model to also provide decentralized data specifically on Flare gives proof positive to Flare’s vision for a fully decentralized network for data.”
Anuj Shankar, CEO of Luga Nodes, echoed this sentiment, saying, “Luganodes has always been committed to offering institutional-grade services in the blockchain infrastructure space and we find Flare’s new model of decentralized data provision very interesting. It’s not something we’ve done before, but being part of the Flare ecosystem as both a validator and a data provider to their native oracle aligns perfectly with our mission to provide reliable and secure blockchain infrastructure solutions – and we are keen to see how it improves decentralized data access for developers.”
Flare positions itself as the blockchain for data, an Ethereum Virtual Machine (EVM) smart contract platform designed to enhance blockchain utility. With decentralized oracles seamlessly integrated into the network’s architecture, Flare stands out as the only smart contract platform optimized for decentralized data acquisition, covering price & time series data, blockchain event & state data, and Web2 API data.
In providing developers with trustless access to a diverse range of data at scale and cost-effectively, Flare acts as a utility layer for the blockchain industry. The platform’s commitment to supporting the development of new and improved use cases positions it as a frontrunner in the evolving landscape of blockchain technology. The latest collaboration with top-tier infrastructure providers further solidifies Flare’s standing as a trailblazer in the pursuit of a fully decentralized network for data.