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What is Lightning Network?
The Lightning Network for Bitcoin facilitates instantaneous payments, offering quick blockchain transactions that circumvent the typical wait associated with block confirmations. It boosts security through smart contracts on the blockchain, negating the requirement for distinct on-chain transactions for every payment. Users can enjoy transaction times that vary from milliseconds to just seconds. This innovative network features impressive scalability, able to manage millions or even billions of transactions every second, significantly eclipsing the capacity of conventional payment systems. Moreover, it allows payments to be tied to specific actions or clicks without relying on intermediaries. Another advantage is its cost-effectiveness, as off-chain transaction settlements lead to significantly reduced fees, enabling groundbreaking applications such as real-time micropayments. The Lightning Network also facilitates cross-chain atomic swaps that can be executed instantly and off-chain, given that the involved blockchains share the same cryptographic hash function. This capability for interoperability among various blockchain systems introduces exciting opportunities for smoother financial exchanges. With its dynamic features, the Lightning Network is set to revolutionize the way transactions are conducted in the digital realm.
What is Flare?
An astonishing 65% of the potential value tied to blockchain tokens remains unutilized by decentralized applications, but this situation is set for transformation. Introducing Flare, an innovative network that features the first Turing complete Federated Byzantine Agreement (FBA) system, crafted to be scalable without depending on a native token for security purposes. This groundbreaking architecture mitigates the dangers of safety loss that can arise from conflicting demands on a native token while ensuring smooth compatibility with the Ethereum Virtual Machine. With a strong base of developer expertise, Flare streamlines the integration for ongoing projects and offers minimal transaction fees, enabling applications to expand without burdening users with excessive costs. The native token, Flare (FLR), functions as collateral for the secure issuance of assets from non-Turing complete chains, starting with prominent currencies such as XRP, XLM, Litecoin, and Dogecoin. Moreover, it plays a crucial role in facilitating the Flare time series oracle, generating yield for securing the price mechanism on the network and engaging in governance activities. F-Assets are introduced to enable Turing complete smart contracts on each connected chain, allowing assets to be originated and settled back to their respective networks in a trustless manner, which significantly boosts both functionality and flexibility within the blockchain ecosystem. With these remarkable innovations, Flare is set to redefine the interaction between decentralized applications and blockchain tokens, creating a more dynamic and interconnected digital landscape. As the platform evolves, it will likely inspire further advancements in the field.
Integrations Supported
Bitcoin
BlueWallet
Bottlepay
Breez
Build on Bitcoin (BOB)
Cash App
DEX Screener
Damus
Eclair Mobile
Electrum
Integrations Supported
Bitcoin
BlueWallet
Bottlepay
Breez
Build on Bitcoin (BOB)
Cash App
DEX Screener
Damus
Eclair Mobile
Electrum
API Availability
Has API
API Availability
Has API
Pricing Information
Pricing not provided.
Free Trial Offered?
Free Version
Pricing Information
Pricing not provided.
Free Trial Offered?
Free Version
Supported Platforms
SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux
Supported Platforms
SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux
Customer Service / Support
Standard Support
24 Hour Support
Web-Based Support
Customer Service / Support
Standard Support
24 Hour Support
Web-Based Support
Training Options
Documentation Hub
Webinars
Online Training
On-Site Training
Training Options
Documentation Hub
Webinars
Online Training
On-Site Training
Company Facts
Organization Name
Lightning Network
Date Founded
2015
Company Website
lightning.network/
Company Facts
Organization Name
Flare Network
Date Founded
2019
Company Location
United Kingdom
Company Website
flare.xyz/