Cripto Revolution @CriptoRev
Joined August 2015-
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If you have yet to jump in and learn about what @FlareNetworks FTSOv2 has to offer, now’s your chance to do so! Check out the thread below 👇
If you have yet to jump in and learn about what @FlareNetworks FTSOv2 has to offer, now’s your chance to do so! Check out the thread below 👇
Tl;dr The secret lies in moving unwieldy computations off-chain, with only verification information published on-chain. In this way, the hard work necessary to perform the calculations is performed by the data providers, minimizing on-chain computation. Now, let's zoom in 🔍
The flow diagram below reveals FTSOv2's secret to efficiency: Off-chain computations 🔑 Here's a breakdown of the FTSOv2 access flow in 4 steps 👇
1️⃣ Each provider computes their estimate for each of the supported FTSO data feeds, and uploads to the chain a single hash committing to their individual estimates.
2️⃣ Each provider reveals their list of estimates and uploads the information on-chain.
Once enough signatures corresponding to the same hash are uploaded, this hash determines the final values for the data feeds for the round, which is now available for use in dapps. See how the FTSOv2 works in detail: flare.network/wp-content/upl…
4️⃣ Providers package the list of median values into a single hash, uploading this hash to the chain, together with a signature over the hash.
3️⃣ Off-chain providers compute the aggregate value for each feed in the voting round.
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How to use #Flare P-Chain Explorer?⬇️ flare.space/dapp/p-chain-e…
Flare joins forces with Web3 security leader @HypernativeLabs to safeguard its ecosystem. $14B prevented losses & $37B assets are already secured by Hypernative. This team-up underscores Flare's commitment to top-tier security for institutions, builders & users.…
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