The live demo is scheduled for later today.
Flare Networks will demonstrate the Layer 1 Ethereum Virtual Machine-based blockchain’s interoperable capabilities today by purchasing NFTs on Flare using Dogecoin and XRP.
Notably, Flare first revealed the plan for the demo in a tweet last Friday. It will take place at 14:00 UTC on Twitter today, with Flare Networks Chief Executive Officer Hugo Philion and Senior Solidity Developer Filip Koprivec listed to conduct the demo.
?Live demo: We will use DOGE and XRP to trustlessly buy an #NFT on #Flare.
Join us on February 22nd at 14:00 UTC.#DOGE #XRP pic.twitter.com/rjv2DH5aGk
— Flare ☀️ (@FlareNetworks) February 20, 2023
It bears mentioning that it would not be the first time for the Flare Networks team to demonstrate this, as it did so recently in a GMO Internet-hosted event in Tokyo using XRP, as highlighted in a previous report. However, it is likely their first time doing it for the general public. Meanwhile, Philion shared a teaser yesterday with a picture of what appears to be a person in a Flare-branded T-shirt holding an XRP-branded can drink.
Sneak peek of the demo tomorrow. pic.twitter.com/9F5EonorhV
— Hugo Philion ☀️ (@HugoPhilion) February 21, 2023
Recall that the network’s slogan is “Connect Everything,” as developers built it to provide smart contract capabilities for blockchains without them, starting from the XRP Ledger. Consequently, interoperability is at the core of its operations.
As a result, it is built with two interoperability protocols, namely the State Connector and Flare Time Series Oracle. Per the official Flare website, the State Connector allows for secure and decentralized data collection from external blockchains and the internet. Alternatively, the FTSO acquires and delivers off-chain data recorded at consistent time intervals, like cryptocurrency prices, to Flare applications.
Flare launched early this year following a Token Distribution Event promised to XRP holders at the time of a December 2020 screenshot. The project, over the years, has received investments from Ripple and Digital Currency Group.
While the execution of its airdrop to XRP holders has attracted criticism, holders of the native token Flare (FLR) remain bullish on its outlook as pundits have tapped interoperability as one of the biggest themes this year for crypto. At the time of writing, FLR is trading for $0.04276, up 1.89% in the last 24 hours, despite a broad crypto market correction.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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