- Flare Network has completed its interoperability test with an NFT purchase on Songbird.
- The XRP and Dogecoin digital currencies were used to complete the purchase.
Flare Network, the EVM-based Layer 1 blockchain designed to allow developers to build applications that are interoperable with blockchains, and the internet has showcased its inherent capabilities in a grand way. According to a Press Release shared with Crypto-News Flash, Flare has successfully completed the acquisition of a Non-Fungible Token (NFT) on its EVM network using tokens from two different blockchains.
The purchases were made using XRP and Dogecoin (DOGE), unveiling the highly interoperable nature of the protocol. According to the update, the demo of the transaction was shared live by the Flare Network team. The team used two of Flare Network’s top interoperability protocols including the State Connector and the Flare Time Series Oracle (FTSO).
Flare Network made a lot of buzz in the Web3.0 ecosystem following the release of its promised airdrop back in January. The airdrop was distributed after about a 2-year wait based on the snapshot of XRP coin on exchanges. The total token airdropped was pegged at 4 billion and though it came with some minor disputes from a number of exchanges, it helped kickstart the smooth operation of the Flare Network.
The showcase of its interoperability features with the State Connector and the FTSO featured the purchase of the NFT on the protocol’s canary network, Songbird. The demo also highlights the readiness of the protocol for use and users can resort to the Flare Network and start transacting using a wide array of tokens.
Flare Network and the Role of the State Connector and the FTSO Utility
According to the update shared, the State Connector showcased its strength as a channel through which Decentralized Applications on Flare can link up with different blockchains for cross-chain transactions. The State Connector allows DApps to access the needed liquidity, and information that could make a protocol stay vibrant.
There is no boundary to the nature of info that can be accessed with the help of the State Connector and this could range from whether a particular transaction has been completed or whether the right amount of payment was received for a transaction.
“This demo highlights Flare’s ability to provide more types of secure, decentralized data on-chain in order to power new functionality and potential use cases for the industry,” said Hugo Philion, Flare CEO & Co-founder. “The NFT demo is one example of the web3 utility Flare can unlock for legacy tokens, enabling them to be used trustlessly in DApps on the network.”
The FTSO even brings additional functionalities to Flare and it helps pull off some data from external sources and brings them on-chain.
These two interoperability tools are very essential in boosting the overall usability of the Flare Network as an EVM protocol. They generally grant more accessibility for users as every EVM-compliant token or NFT can find a place on the Flare protocol.
“We are excited to see what other applications engineers can develop, harnessing the capabilities of Flare’s native interoperability protocols,” Philion further stated.
