• Flare recently completed a live demonstration of its new interoperability functionality available in beta on the network.
• The demo used State Connector and Flare Time Series Oracle (FTSO) protocols to trustlessly purchase an NFT using tokens from different blockchains.
• The demo was successful, highlighting the potential use cases and applications for legacy tokens on the network.
Flare Unlocks Interoperability Functionality
Flare, a layer-1 for data, has recently completed a live demonstration of its new interoperability functionality now available in beta on the network. The demonstration aimed to prove that it is possible to trustlessly purchase an NFT on Flare using tokens from a different blockchain.
Demo Details
The demo was performed on Flare’s canary network, Songbird, with two core interoperability protocols being used – State Connector and Flare Time Series Oracle (FTSO). DOGE and XRP tokens were used to make the purchase.
State Connector enables information from other blockchains and the internet to be securely accessed by EVM-based smart contracts on Flare chains. In this case, it has been used to prove that a transaction was confirmed on a non-Flare chain while verifying that the correct payment reference was included.
The FTSO delivers highly decentralized price and data feeds to dapps on Flare without relying on central providers for data delivery. For this demonstration, it provided the live updating price of the NFT in the currency of another chain.
Standard ERC721 Contracts
EVM-based blockchains such as Ethereum are capable of achieving anything which can be performed by standard ERC721 contracts written in Solidity deployed on their networks too – including minting NFTs. To use them in this demo however required some additional methods to integrate with FTSO and State Connector protocols as well as writing Solidity code for them..
Web3 Utility Enabled
Hugo Philion, Flare CEO & Co-founder commented: „This demo highlights [the] ability to provide more types of secure decentralized data on-chain in order to power new functionality and potential use cases for the industry.“ He added that “we are excited to see what other applications engineers can develop harnessing [the] capabilities of Flare’s native interoperability protocols” enabling web3 utility for legacy tokens usage trustlessly within dapps built upon their platform.
Demo Video
A video demonstrating all aspects described above can be found here: https://www.youtube.com/watch?v=g0qxxm2EZjw
