🚨 Killer Thread Incoming! 🚨

$FLR Price - What's the Deal?

DISCLAIMER: This is not financial advice, just an insight into my personal thoughts about #FlareNetwork's native asset, FLR.

Strap yourself in and get comfortable, it’s going to be long one!

🧵 [ THREAD ] ⤵️ It’s no secret the price of $FLR has depreciated…

Buy why?

What are the underlying factors, and what might the future hold for FLR?

Well… Predicting exact movements is challenging...

Yet, we can break-it-down and see if we can get any clues as to what we can expect!

🚨New #XRP Amendment!🚨

$XRP On-Chain Oracle proposal comes in the form of XLS-45d.

What does this mean for the #FlareNetwork and the FTSO?

Are they in direct competition? Let's find out!

🧵 [ THREAD ] ⤵️
github.com/XRPLF/XRPL-Sta… All great networks should have access to reliable & decentralised data-feeds.

Oracles open up opportunities for information critical dApps, where accuracy is extremely important.

XLS-45d includes the role of a "Provider" akin to Flare's "Data Provider" role.

Let's dig in...⤵️

🧠 Ultimate #LayerCake Thread 🍰

Those new to the #FlareNetwork may not realise the gravity of the innovative Layer Cake protocol, designed to create better bridges.

Here are 3 videos to bring you from zero to hero, starting with "Layer Cake - Speed and Safety"

🧵 1 / 3 "Layer Cake - Chain Reorganization Prevention"

🧵 2/3

@so_annieways I'll give you my run down on #NFTs.

Let's start with purely Art / Collectable NFTs, many of which I believe will become too illiquid to trade efficiently.

There are some incredibly talented artists, animators, 3d modellers out there creating some really unique pieces. @so_annieways I believe these artist will stand the test of time because visually, their work is stunning & people recognise this.

However, sadly, some talented artists never get to see the light of day. imo it's safe to assume a successful project relies on both marketing and visual appeal!

#Songbird, even though relatively young, is already an extremely impressive network.

But what you are currently seeing is just a small fraction of its true potential, what's coming will blow your mind!

🧵[THREAD] The party really starts when @FlareNetworks unleashes the power of the State Connector, followed by the F-Asset system!

"The State Connector enables proving any real-world event to any contract on #Songbird / Flare!"

docs.flare.network/en/state-conne…

There is so much negativity I'm hearing today and I feel it is because people have not fully understood the role of Songbird, so let me explain it with a few name changes and tell me how you feel about it then.

🧵[THREAD] Let us 𝐈𝐌𝐀𝐆𝐈𝐍𝐄 that Songbird was instead called Flare.

Yay everyone is happy again, you have a network which is fully functional, you got your free tokens and you can interact with the various decentralised applications and earn from it.

🙏AMAZING NEWS!❤️

4 reasons to be happy about @FlareNetworks latest announcement regarding the Songbird Canary Network!

🧵[THREAD]
1.

If you're eligible to receive $FLR, you're eligible to receive $SGB, the native token of the Songbird Canary Network.

Yes this will have value, it has a finite supple and will be used on a functional network which imitates the #FlareNetwork

I hear this so often..

"WhErE's My FlArE? It'S JuLy!"🤪

@FlareNetworks latest *** 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞 *** says end of June ± 2-4 weeks. That means from the start of June, to the end of July.

🧵[THREAD] 1/

https://twitter.com/FlareNetworks/status/1383191399923916800

Since June has obviously passed, the #FlareNetwork will not launch in June.

Based on their *** 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞 *** (made back in April) the #FlareNetwork *** 𝐜𝐨𝐮𝐥𝐝 *** launch in July.

But this is only an *** 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞 ***.

2/

What is the most important aspect of any Blockchain project?

The way it reaches consensus.

The way transactions are verified.

Solving the double spend problem can be done in many different ways, some better than others...

🧵[THREAD] Proof-of-Work (PoW)

PoW is a decentralized consensus mechanism that requires members of a network to expend effort solving an arbitrary mathematical puzzle - AKA mining.

I'm going to break this down into the most simplest way I can, I will do it once, so please listen up.

Say I have 100 apples.

I give 100 people 100 apples.

They have 1 apple each.

Let's say I have 100 oranges.

I will distribute them equally to those who hold apples.

1/3 Scenario 1:

Let's say I decide to give out the oranges now.

That's 1 orange for each person.

100 apples evenly distributed, 100 oranges, 1 each, yes?

1 ORANGE EACH!

2/3

#Flare vs. #Ethereum

I hear many people describing the Flare Network as the 'Ethereum killer'.

But few actually consider why that might be.

Let's look at the facts, $FLR vs $ETH

🧵[THREAD] Ethereum, once upgraded to 2.0 will reach consensus with Proof-Of-Stake which means the security of the network depends on the price of #ETH.

A fundamental issue with PoS as a consensus algorithm is the inability to scale the fact it remains susceptible to 51% attacks.

2/

💪𝐅𝐥𝐚𝐫𝐞 𝐍𝐞𝐭𝐰𝐨𝐫𝐤 𝐆𝐨𝐯𝐞𝐫𝐧𝐚𝐧𝐜𝐞👌

Flare is governed entirely by Spark token holders through voting.

Some decisions can be implemented on-chain such as:
changing the transaction cost or changing the collateral ratio and creation fee of a F-Asset.

🧵[THREAD] Other decisions such as changing network consensus parameters or more complex long-term updates require a code change.

The Flare white paper sets out a proposal, development and testing regime for manual changes which can be initiated and voted on by Spark token holders

2/

Flare Network token distribution.

@FlareNetworks have blessed #XRP holders by taking a snapshot of the XRP Ledger (12/12/2020) for the token distribution.

Let us discuss further how Spark will be distributed and the important dates associated with the airdrop.

🧵[THREAD] First of it is important to note, Spark will be distributed to eligible wallets, but what constitutes as an eligible wallet?

Eligible address are those who have correctly claiming Spark, details of which can be found here:

flare.ghost.io/claiming-spark…

2/

#Flare is the world’s first Turing complete Federated Byzantine Agreement (FBA) network.

It's going to change game!

But I would like to bring your attention to the @FlrFinance ecosystem which will be built upon the Flare Network.

🧵[THREAD] 𝗙𝗹𝗮𝗿𝗲 𝗙𝗶𝗻𝗮𝗻𝗰𝗲

Flare Finance is the first DeFi platform built on the Flare Network. It utilizes smart contracts to offer a non custodial environment for trading, farming, loans, insurance, and mining.

2/