Flare is Building a ‘Fully Decentralized’ DeFi Hub: Co-Founder

Quick Summary:

The "blockchain for data” is building trust-minimized bridges for non-smart contract tokens like Bitcoin, XRP and Doge, Hugo Philion said.

That, he said, would enable Flare to process “vast amounts of data,” making dapps built on the platform competitive with data-rich Web2 applications.

With a total value locked (TVL) of $20.75 million according to DeFiLlama, Flare hit 1 million active wallets in August 2024.“Our TVL is relatively small, but it's growing quite quickly,” Philion said.

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Article Details

Category: Crypto

Markets: Estonia

Topics: DeFi Trusted execution environment Flare Hugo Philion Bridge TEE Data oracles Decentralized Finance Technology

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-26 @ 17:01:05 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: decrypt.co

Language: English

Article Length: 637 words

Reading Time: 4 minutes read

Sentences: 17 lines

Sentence Length: 38 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Decrypt

News ID: 23893467

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Main Topics: Crypto

Official Website: decrypt.co

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