DeFI News by Thebittimes.Com

With the update, the project wants to help FLR holders secure and contribute to the ecosystem. Flare, a layer-1 solution that enables using smart contracts on the XRP network, has rolled out a public staking service for FLR token holders. Flare public staking is live: https://t.co/ZB0AaH7sFZ Learn everything about delegating FLR stake with #FlareStake. ️ pic.twitter.com/EsqWng7KCv — Flare ️ (@FlareNetworks) October 29, 2023 In an X thread on Oct. 29, the Flare team said the launch is part of the transition to a proof-of-stake consensus model. With the dedicated staking platform, FLR holders users can delegate their token s to validators in a bid to support them in contributing to the ecosystem, the developers said. You might also like: Flare brings blockchain API to Google Cloud Marketplace At launch, users could only stake FLR with Avalanche application set on their Ledger hardware wallets. However, the developers promise to add other staking options in the f...

Numerous initiatives by local and state governments in India — from data management systems to verifiable certificate issuances — currently use blockchain technology. Ever since Bitcoin (BTC) popularized blockchain technology worldwide, the tech has found its way into myriad processes, from finance to public administration. What started as a flex statement for early adopters has now become a way of revamping legacy systems and improving immutability, transparency and decentralization. Despite its proven real-world use cases, most government agencies continue to take a cautious approach to adopting and infusing blockchain into their paper-based processes, given its predominant link to the cryptocurrency ecosystem. However, a change of heart is underway as emerging economies see blockchain as a rare opportunity to establish a trust-based system for society. While still reluctant to legitimize cryptocurrencies fully, India has generally accepted blockchain technology. Numerous initiat...