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Dogecoin (DOGE) approved by Flare Community as F-Asset

Dogecoin (DOGE) approved by Flare Community as F-Asset

According to recent reports, the Flare Community has voted on Twitter that they approve DOGE. The development team behind the much-awaited Flare blockchain, Flare Networks, conducted a poll on its official Twitter account. Flare Networks launched a community vote with only one question. Specifically, Flare supporters had to designate their position on the feasibility of combining Dogecoin (DOGE) as an F-Asset on Flare.

Today, when the discussion came to an end, it became evident that the Flare community is commonly optimistic about DOGE’s views on the platform. A massive 53.1% of respondents noted interest in DOGE as a third F-asset alongside XRP and Litecoin (LTC). Flare Networks CEO, Mr. Hugo Philion, emphasized that the “value” after a cryptocurrency protocol is the core criteria for new assets implementation. The poll created high interest amongst Flare Network’s Twitter community. Out of 64,000 followers, 11,546 crypto enthusiasts determined to take part in it.

Intricate details about an Flare community’s F-Asset

According to Flare Networks, an F-Asset is a 1:1 representation of Flare of any token from another chain. Owing to the trustless design of Flare, the connection between the two protocols comes into existence in a decentralized manner with no third party required. Flare is a programmatic blockchain, so connecting to it allows smart contract functionality for every blockchain-related. 

Earlier, Flare stated that they are extending support for XRP. The Spark Token airdrop for XRP holders assisted a price surge in XRP late last year. Nevertheless, that happened just before the token’s plummet because of an SEC lawsuit calling it security. Recently, Flare declared they would be combining support for Litecoin (LTC). They presented some airdrop, including Litecoin.

Nevertheless, it now appears that this may occur after the Flare network launch originally listed for Q1 2021. Flare, a Turing-complete blockchain, employs FBA mechanism and Avalanche consensus. Flare’s first mainnet release may be in May 2021. Conclusively, with LTC’s extension and the potential expansion of XLM and DOGE, Flare may discover itself struggling with Ethereum-killers Polkadot and Layer-2 solutions such as Matic xDai for some of the smart contract market share.

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