Who created the flare coin?

Flare is a groundbreaking initiative conceived by Hugo Philion and Sean Rowan, aimed at addressing two fundamental challenges inherent within the blockchain ecosystem. By harnessing innovative technology, Flare endeavors to revolutionize the way we perceive and interact with blockchains.

BTCC, a leading cryptocurrency exchange, offers a wide range of services that cater to the diverse needs of the crypto community. Among these services are spot trading, where users can buy and sell cryptocurrencies at current market prices, and futures trading, which allows for speculation on the future price of digital assets.

The first problem Flare tackles is the issue of interoperability. In the current landscape, various blockchains operate in silos, with limited ability to communicate or exchange data with each other. This hinders the widespread adoption of blockchain technology and limits its potential.

The second challenge Flare seeks to overcome is scalability. As blockchain networks grow, they often struggle to maintain high transaction speeds and low fees. This can lead to congestion and discourage users from adopting the technology.

Flare's solution involves the development of a new consensus mechanism, called the Federated Byzantine Agreement (FBA), which enables blockchains to securely communicate and exchange information with each other. This enhances interoperability and fosters collaboration between different blockchain networks.