- Flare Network is empowering Web3.0 with new collaboration with Rationarium.
- The partnership will see the best of Flare and Rationarium’s products integrated to meet more user’s need.
Flare, an Ethereum Layer 1 EVM Oracle Network is collaborating with Rationarium to implement full-stack ERP solutions for Web3. As contained in a Press Release shared with Crypto-News Flash, by implementing a full-stack ERP solution for Web3, Flare is looking at streamlining its operations and improve its efficiency, as well as provide its customers with a more seamless experience.
According to the announcement, Flare will be leveraging Rationarium’s purchase ledger and treasury function to process data both in fiat and crypto. As a result, all Flare workers and contractors will be able to process their expenses on Rationarium and be paid in fiat or cryptocurrency.
Interestingly, the news comes shortly, after Flare conducted a live demonstration of new interoperability functionality currently available in beta on the network. Using two fundamental interoperability protocols, State Connector and Flare Time Series Oracle (FTSO), an NFT was securely bought with a different chain and a different token.
Notably, Rationarium is a web3 enterprise software supplier that provides an Enterprise Resource Planning solution for blockchain and crypto businesses. This technology combines off-chain and on-chain transactions into a single ledger, resulting in a more complete and unified view of a company’s financials.
In addition to a unified ledger, Rationarium also provides accounting and tax modules that are totally customizable. This allows clients to customize the solution to their individual demands, which is especially crucial for organizations operating in the blockchain and crypto industry.
The Flare Network, on the other hand, is a decentralized network that intends to add smart contract capabilities to cryptocurrencies that do not natively support them, such as Bitcoin and XRP.
The use of the Ethereum Virtual Machine (EVM) by Flare Network is one of its core advantages, empowering developers. This allows developers to design Flare-based decentralized applications (Dapps) that can connect with other blockchains such as Bitcoin and XRP.
Another important aspect of Flare Network is its focus on interoperability. By enabling smart contracts to be executed across different blockchains, Flare aims to create a more connected and interoperable blockchain ecosystem. This could assist to open up new use cases and applications for decentralized finance (DeFi), as well as other industries such as gaming and social media.
Does Flare Have the Potential to Become a Leading Blockchain Project?
Over the past 24 hours, FLR, Flare Network’s native token has experienced a 2.79% price increase, according to data from Marketcapa.
Additionally, the volume/market cap ratio of FLR is 3.14%, suggesting that there is a moderate level of trading activity in FLR relative to its market capitalization, which could indicate that there is some level of interest and liquidity in the token.
While FLR’s market capitalization and trading volume are not among the highest in the cryptocurrency space, the project’s focus on bringing smart contract functionality as well as its emphasis on interoperability may make it an interesting project to follow in the DeFi space in the long run.