Flare has developed two native interoperability protocols facilitating on-chain, decentralized acquisition of blockchain, time series and Web2 API data. The protocols are secured by the network itself, with decentralized, independent data providers incentivized to deliver accurate data. This helps Flare to minimize risks for users and developers.
The State Connector securely acquires event information from other blockchains and the internet to be used in smart contracts on Flare. It acquires this data securely, scalably and in a decentralized manner, with a set of independent attestation providers needing to reach consensus on the validity of an event before the information can be made available to dapps on the network.
The Flare Time Series Oracle (FTSO) utilizes the network structure to deliver highly decentralized prices and data series to dapps on Flare without relying on centralized data providers.
By providing reliable access to cryptocurrency prices, detailed transaction information from other chains, and Web2 event data, Flare enables developers to build applications that can provide more utility to a larger group of users.