Unlocking Blockchain Data: We're Infrastructure Providers for Fl…

Unlocking Blockchain Data: We're Infrastructure Providers for Flare

November 6th, 2023

SenseiNode is an Infrastructure Provider for the Flare Network.

As Flare transitions to a staking model, the validators of the network are also data providers. The name used to refer to an entity that undertakes this dual role is Infrastructure Provider, which enables two native oracles, the FTSO and the State Connector.

This native processing provides developers on Flare with efficient access to large amounts of data and data proofs at minimal cost.

Our nodes run on dedicated Bare Metal servers, with uptime monitoring and real-time security. ✔

Unlocking Blockchain Data Access

Flare's vision is to stand out in a new era where data operates as a public asset, uninhibited by central controls and free for collective consumption.

Flare operates as a Layer 1, EVM-compatible smart contract platform, committed to enhancing the utility of blockchain and to provide data as a public good.

Its focus is improving the quality of on-chain data ensuring it remains decentralized and accessible to all, while providing a better developer experience. Its infrastructure, comprising of the FTSO and State Connector oracles, provides developers with efficient access to a broad range of data and data proofs.

Core Protocols

Flare incorporates native data acquisition protocols:

Flare Time Series Oracle (FTSO): Is a Smart Contract that provides continuous estimations for different types of data in a decentralized manner (no single party is in control of the process).
State Connector: A Smart Contract that enables querying of verifiable, static data from various chains and online sources from outside the Flare network.
LayerCake: Under Flare Labs development, is a decentralized bridging and cross-chain composable protocol that aims to bridge smart contract networks.

Developing on Flare

Developers working with Flare will find a similar environment to Ethereum, being Flare a EVM compatible network due that they managed the same API and the Ethereum Virtual Machine (EVM).

Flare supports Ethereum's Solidity smart contracts and assets like NFTs.

The FLARE Token

FLARE (FLR) is the native token of the Flare network. Similar to other Layer 1 networks, it serves as a means for payment for gas within the Flare ecosystem.

The Flare native currency, $FLR, works the same as $ETH on the Ethereum blockchain. For those contracts that can only work with ERC-20 tokens, $FLR can be easily wrapped as $WFLR, which is an ERC-20 representation of $FLR

If you hold $FLR or $SGB tokens, you can delegate them to an FTSO data provider to increase its vote power and earn a share of its rewards, resulting in a mutually beneficial arrangement. When you delegate your vote power, you not only earn rewards but also support reliable data providers, which strengthens the stability of the FTSO and the whole ecosystem.

Flare Chains

Flare's architecture is built on two primary chains:

C-Chain: This is where smart contracts are executed, utilizing the Ethereum Virtual Machine.

P-Chain: Designed for staking and rewarding its validators.

Flare Staking

On Flare there are two types of stake: self bond, the stake put up by an infrastructure provider itself, and delegated stake, the stake delegated by token holders to an infrastructure provider.

The rollout of staking will occur in 3 phases. Now ,Flare is as at Phase 2 of the PoS transition, with Public Staking Activated!

How to stake:

There’s a new staking tool to transfer your FLR from the C-Chain, where smart contracts run, to the P-Chain, where staking happens.

We’ll be sharing more info about staking with Flare, stay tuned!