The Flare Network team has officially released the token distribution event schedule. XRP investors are about to receive the long-awaited FLR airdrop rewards. Here is what you need to know about the airdrop.
Flare Networks finally announces the date XRP investors have been waiting for
Flare Network announced its airdrop program for XRP investors in a blog post today. It also announced that it was launching the validator code.
Airdrop date
The blog post confirms that the airdop period runs from October 24 to November 6. However, that date will be determined by whether the network can attract enough validators.
However, we learned that Flare will be released in beta for 6 to 9 months. It reveals that during this time professional partners and Flare Time Series Oracle (FTSO) participants will split network validation. All technical details for the future are in the tweet above.
What is Flare Network?
Flare Network is a distributed network that integrates the Ethereum Virtual Machine (EVM). It also uses a consensus protocol called Avalanche, adapted to work with the Federated Byzantine Agreement (FBA). FBA is a consensus mechanism used by networks such as XRPL and Stellar. As a result, Flare’s consensus algorithm does not rely on economic mechanisms such as PoS to maintain the security of the network.
Flare Network uses Ripple’s XRP Ledger (XRPL) infrastructure, a global payment network. Spark is Flare’s native cryptocurrency. At the same time, some of its supply will be airdropped to XRP investors.
45 billion Spark will be gifted to XRP investors as part of the airdrop. You can claim these tokens on exchanges using your own wallet. This way, all the technical details will be taken care of for you and you just have to keep your XRP on Binance at the moment of the snapshot.
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