This partnership will help in ensuring data transparency allowing validators and other network participants in making well-informed decisions.
On Friday, July 14, Flare Network entered into a strategic partnership with the community-managed database platform FlareDashboard.
The collaboration aims to gather important information about the contributors who support the network’s decentralized operations, improving transparency within the Flare ecosystem.
Initially, the focus will be on the data providers for Flare Time Series Oracle (FTSO), who provide price feed data to the network. Eventually, the partnership will include other participants such as validators and State Connector attestation providers, enabling network participants to make well-informed decisions.
Flare is a Layer 1 blockchain that focuses on providing developers with lots of information in a decentralized way. Unlike other blockchains, Flare has built-in protocols that make it easy and affordable for developers to access different types of high-quality data. It’s designed to handle large amounts of information efficiently and at a low cost. Speaking on the development, Ash W, CEO and Co-Founder of FlareDashboard said:
“We have been actively supporting the Flare and Songbird ecosystem since their inception, and we take great pride in building FlareDashboard, an independent community platform that connects infrastructure teams with ecosystem participants. FlareDashboard’s objective is to facilitate the exchange and validation of valuable information provided by the network’s infrastructure providers. This information can be utilized by ecosystem participants when delegating to support infrastructure teams that bring added value to the ecosystem.”
Flare Seeks to Build a Transparent System
The Flare platform brings together crucial information including team details, KYC compliance, operational history, data protection measures, technology configuration, and network addresses. This promotes transparency within the system.
All network participants can access this important information through the website flaredashboard.io. Infrastructure providers also have the chance to share additional details with the community. Hugo Philion, CEO & Co-Founder of Flare Network said:
“Flare is proud to be able to support a community initiative like FlareDashboard. By providing a transparent view on ecosystem contributors, they can help our community make more data-driven decisions on how they participate.”
The Flare Network has been working on key initiatives in the past to build robust blockchain-based decentralized infrastructure. Recently, Flare formed a strategic partnership with Ankr, a well-known cloud infrastructure provider in the Web3 industry. The collaboration aims to improve Flare’s Remote Procedure Call (RPC) procedures, which are specifically designed for developers.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
