- Flare Networks is working to introduce good contracts on Litecoin.
- This characteristic will introduce utility and growth capabilities, just like the performance discovered on Ethereum.
- Litecoin customers also can take part in Flare Networks’ airdrop.
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Flare Networks Provides Good Contracts
Flare Networks states that it’ll introduce the characteristic forward of its launch in Q2 2021. It says that it will permit Litecoin for use on Flare “with Ethereum-style good contracts,” noting that it will present Litecoin with “interoperability and composability.”
Although Flare Networks has not but introduced exactly what builders will have the ability to do with good contracts, it’s doubtless that Litecoin builders will have the ability to create decentralized purposes (dApps) just like these discovered on Ethereum.
Flare Networks can even airdrop tokens to Litecoin holders. The undertaking will reallocate 5 billion FLR tokens from its personal holdings with the intention to pay those that take part within the airdrop.
Flare can be working to combine good contracts with XRP Ledger in an identical method. It should launch tokens from that airdrop later this 12 months.
Is the Mission Viable?
Flare is a third-party undertaking, however the Litecoin Basis has acknowledged its efforts, noting that it’s “very excited to see the potential of good contracts and interoperability” coming through Flare.
Nevertheless, different third events have pursued comparable objectives with little fanfare. In 2018, Litecoin chief Charlie Lee beforehand acknowledged Litecoin help for good contracts by a distinct platform, Abra. These good contracts had been restricted to sure features on the Abra buying and selling platform.
Flare’s good contracts will seemingly be rather more full-featured. Nonetheless, it’s not clear that Flare-based good contracts will likely be extensively used or grow to be extremely seen when the undertaking goes reside.
On the time of scripting this creator held lower than $60 of Bitcoin, Ethereum, and altcoins.
Shutterstock picture by Pasuwan.
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