FLARE, the layer 1 Ethernet virtual machine (EVM) blockchain, was launched on January 10th after the introduction of two core protocols for decentralized interoperability applications. Blockchain networks allow developers to create applications that interoperate between various blockchain ecosystems and Internet platforms.
Less than a month later, on March 2nd, FLARE ushered in the irreplaceable token (NFT) platform Sparkles on its layer 1 Oracle network.
According to the announcement, one of the main goals of the Sparkles NFT platform is to hone the interoperability of the native FLARE protocol to increase the use cases of NFT utilities.
The NFT platform plans to address other major issues in this area, such as intellectual property (IP), by attaching intellectual property licenses on the chain to future collections. Spakles also plans to devolve its core technology and infrastructure after the transition to DAO.
Since its launch on the flare canary network Songbird in January 2022, Sparkles has handled 90 per cent of NFT's sales, with NFT's sales of $3.5 million. It currently has more than 3200 collections.
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In addition, in 2021, Sparkles joined the encrypted climate agreement, promising to achieve net zero by 2023. The platform reported that the positive status of the environment was achieved through carbon credit and that carbon credit was deactivated on the chain through the Toucan bridge.
Interoperability will continue to be a major theme of decentralized space in 2023. It is one of the main concerns of many companies and communities in this area and is designed to help achieve scalability and involve more users. New tools such as no trust bridges have been implemented to create more secure options for implementing interoperable solutions.
The Web3 domain alliance recently expanded with 51 new members, after which it designated interoperability as one of its main priorities this year.
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Tue, 18 Apr 2023