Buy Flare (FLR)
What is Flare?
Flare is a Layer-1 blockchain network designed to enhance interoperability and smart contract capabilities across different blockchain ecosystems. It focuses on decentralized access to high-integrity data, enabling cross-chain communication and supporting networks that do not natively possess smart contract functionality, such as the XRP Ledger.
How does Flare work?
Flare operates using a modified Avalanche consensus mechanism combined with a Federated Byzantine Agreement (FBA), securing the network through staking. Its ecosystem includes the Flare Time Series Oracle (FTSO) for decentralised price data and a State Connector system for secure data integration from other blockchains. The network supports Ethereum Virtual Machine (EVM)-based smart contracts, allowing for interoperability and integration across various blockchains.
What are the potential use cases for Flare?
Flare provides multiple use cases including cross-chain exchanges where users receive FLR rewards, governance participation through FLR token delegation, collateral in decentralised financial applications, and enabling smart contracts on non-compatible chains. It also facilitates asset tokenization, turning real-world assets like stocks and real estate into blockchain representations. Partnerships in areas like digital art and data decentralisation further expand its practical applications.
What is the history of Flare?
Flare Network was founded by Hugo Philion, Sean Rowan, and Dr. Naïri Usher, with an aim to bridge blockchain ecosystems and enable decentralised connectivity. Officially launched in 2020, it has achieved significant milestones including strategic partnerships and the integration of real-world data sources. It is transitioning to a Proof-of-Stake system and underwent a second stage of network upgrades in September 2023. The network's native token distribution prioritises community allocation, with a circulating supply milestone reached in 2024 showing robust market engagement.
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Frequently Asked Questions (FAQs)
What is the current price of Flare (FLR)?
The Flare price is $0.04286412 AUD, representing a -2.44% from the day prior.
Where is the best place to buy Flare (FLR) in Australia?
The best place to buy Flare (FLR) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Flare (FLR) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Flare (FLR)?
The trading volume of Flare (FLR) is $14.2M AUD in the last 24hrs, representing a -2.44% from the day prior.
How can I buy Flare (FLR)?
Flare (FLR) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Flare (FLR)?
The current market cap of Flare (FLR) is $2.3B AUD.
Can I convert Flare (FLR) to cash?
Yes - With Coinstash you can convert your Flare (FLR) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Flare (FLR) are there?
The current circulating supply of Flare (FLR) is 54.9B.
Is Coinstash a safe place to buy Flare (FLR) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Flare (FLR) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.