Dogecoin (DOGE) approved as the new asset of the Flare community

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Flare Networks, the development team behind the highly anticipated Flare blockchain, conducted a survey on their official Twitter account. Now Flare supporters are embracing Dogecoin, the most extraordinary asset of all old-fashioned cryptocurrencies.

DOGE application approved by the Flare community

On January 21, 2020, Flare Networks started a community referendum with just one question. So, Flare supporters were asked to state their opinion on the possibility of adding Dogecoin (DOGE) as F-Asset on Flare.

Today, when the referendum ended, it turned out that the Flare community was generally optimistic about DOGE’s expectations on the platform. 53.1 percent of respondents were positive about DOGE as a third F-asset along with XRP and Litecoin (LTC).

Mr. Hugo Philion, CEO of Flare Networks, emphasized that the “value” behind a cryptocurrency protocol is the basic criterion for the implementation of new assets.

Flare Networks (FLR) is considering adding DOGE as F-Asset. So why?

The survey attracted great attention from the Flare Network’s Twitter community. 11,546 crypto enthusiasts from 64,000 followers participated in the survey.

What is an F-Asset?

According to the official statement by Flare Networks, an F-Asset displays a 1: 1 representation on Flare of any token from another chain. Thanks to Flare’s reliable design, the bridge between the two protocols is built in a decentralized way, with no third parties involved.

Flare is a programmatic blockchain, so bridging it to it provides smart contract functionality for each connected blockchain.

FXRP, a token fixed to XRP, will be the first asset to be broadcast live on Flare. Also, recently Flare Networks announced the integration of Litecoin-based FLTC token.

Moreover, Flare will be Ethereum compatible from day one. Turing uses Flare, FBA mechanism and Avalanche consensus, a complete blockchain. Flare’s first mainnet version is expected to be released in May 2021.

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