Will Flare Network Grow This Year?

Posted by Somendra Kumar on February 22nd, 2023

Crypto fans and experts have recently paid a lot of attention to layer-2 networks and scaling services, but what about the desperately required innovation in decentralized application (dapp) functionality? The market capitalization of the whole application-based sector is close to 0 billion (with DeFi making up a billion TVL), but its expansion has been constrained by issues like UI/UX and, more importantly, the general lack of value for most consumers. Blockchain requires new applications that are more pertinent to a wider audience if it is to continue to expand. Flare is addressing many issues by using data, including pricing, transactional information, and Web2 events. Stay updated with the Flare Network price from Cryptoknowmics. 

Will Flare Grow?

Will Flare Network grow in 2023? There is a chance. Web3 technologies continue to lack real-world value, in part because there is a dearth of off-chain data that has been safely gathered and is usable by on-chain Dapps. Flare Network launch date was the 14th of July last year. The development of novel use cases and monetization strategies is made possible by decentralized access to high-quality data from other distributed ledgers and Web2 internet sources. More kinds of off-chain data are now reliably, scalable, and truthfully accessible for usage in on-chain Dapps thanks to the FTSO and the State Connector of the Flare Network.