Flare to Join ETHGlobal in New York: Smart Contract Development in Focus

During the event, participants will discuss current developments related to the Ethereum Virtual Machine (EVM), as well as tools that facilitate scaling of blockchain platforms and expansion of their functionality. Flare will present its developments and solutions aimed at improving interaction between blockchains.

Flare Network is a decentralized platform that supports the execution of smart contracts compatible with the EVM. This allows developers to run universal applications on a network that is Turing-complete — that is, capable of solving almost any problem given the resources. This approach makes Flare a powerful foundation for building a complex blockchain ecosystem.

Flare's consensus is based on a modified version of Avalanche, adapted to the Federated Byzantine Agreement (FBA) model. This architecture has already been successfully used in networks like XRPL and Stellar. Unlike Ethereum, where network security is ensured by economic incentives for validators through the Proof of Stake mechanism, Flare relies on a structured approach without the need for token locking.

Flare's native token, Spark (FLR), plays an important role in the ecosystem. It serves several purposes at once: protection against network attacks, payment for transactions, support for decentralized applications, the operation of oracles, and participation in protocol governance. This multifunctional approach increases the stability and flexibility of the network.

Flare’s participation in ETHGlobal New York will therefore be an opportunity to showcase its technological advancements and strengthen its connections with developers and industry partners. The event also highlights the growing interest in innovative solutions in the Web3 world, especially those that offer alternatives to traditional approaches to security and scalability.