The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

After XRP, Flare Networks May Bring Smart Contracts Functionality to Bitcoin

by Daily Hodl Staff
January 30, 2021
in Altcoins, Bitcoin

Flare Networks is defining the extent of the project’s capabilities, claiming that its protocol could bring smart contract functionality to Bitcoin.

In a recent interview hosted by Real Vision, Flare’s co-founder Hugo Philion says that after XRP, their project could potentially bring smart contract capabilities to the Bitcoin blockchain.

“We are a network that is based around utility, about providing utility to other networks such as XRP, potentially one day, Bitcoin, potentially other networks. Any asset can be represented, any blockchain asset can be represented on Flare. The point is that, yes, we are trying to put forward a very strong idea for each participant about how utility works, and why they need to participate.”

Flare Networks aims to be a new scalable and safe blockchain network that can bring decentralized finance (DeFi) and smart contracts to blockchain networks, starting with XRP and Litecoin (LTC) and then possibly to the king crypto itself.

The co-founder adds that the process to integrate Flare with new networks is one that takes time to set up, as the project aims to be fully decentralized and to have its governance Spark token maintain utility.

The team plans to grow its ecosystem, says Phillion, while also carefully growing into a value network.

“Flare is creating a network. Then once it creates a network, that network has a foundation. After that point, there is a governance process for everything. Flare will not be just continually adding new things without governance form a network. Because specifically we cannot. That is not the way this works. It has to be a decentralized network. It has to have governance and also, we cannot as a foundation, and even as a sponsor, potentially related commercial entity, we cannot undertake to do anything for the network. Because as you have seen as many, many different cold cases, we make no undertaking that we have any responsibility towards building.

This is not a security you are not bing an equity and we are not going to be providing the value to that. We are setting up a network. It is going to run like an automaton and hopefully it provides utility and it bulls an ecosystem around it.”

Earlier this year, Flare announced that in addition to its Spark token airdrop to eligible XRP holders, it would perform an airdrop for qualifying Litecoin holders as well.

Flare is set to launch in Q2 of 2021 and will airdrop its Spark token to Litecoin holders who qualify for the airdrop ahead of the launch.

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/GrandeDuc

Submit a Press Release

Industry Announcements

  • Meta Earth Network 2.0 – Pioneering Web 3.0 Innovation With Rewards and Global Events
    June 20, 2025
  • Perceptron Network Merges With BlockMesh To Create First End-to-End Decentralized AI Data Infrastructure
    June 20, 2025
  • Bubblemaps Integrates With TON, Enhancing Transparency in Telegram’s Native Blockchain Ecosystem
    June 19, 2025
  • NATIX Network Launches DePAI Initiative, Merging DePIN Infrastructure With Decentralized AI
    June 19, 2025
  • BitVault Raises $2 Million From GSR, Gemini and Auros To Launch BTC-Backed Money
    June 18, 2025
  • TAC Raises $11.5 Million To Bring DeFi to Telegram’s Billion-User Ecosystem
    June 18, 2025
  • Falcon Finance Launches Pilot Season of Falcon Miles Points Program To Reward Ecosystem Participants
    June 18, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$99,468.65
$99,468.65
2.98%
Ethereum
$2,189.57
$2,189.57
8.59%
BNB
$608.24
$608.24
3.79%
Solana
$129.74
$129.74
5.91%
XRP
$1.97
$1.97
5.22%

Spotlight

  • Walmart, Amazon and Other Multinational Giants Considering Issuing Stablecoins: Report
    June 15, 2025
  • 65-Year-Old Forced Out of Retirement After Losing ‘Everything’ in Elaborate Bank Fraud Scam
    June 15, 2025
  • Crypto Strategist Warns of up to 80% Bitcoin Correction in Next Bear Market Fueled by Selling of Major BTC Adoption Group
    June 15, 2025
  • Woman To Serve Four Years in Prison for Role in $800,000 Business Email Hack That Tricked Victims Into Sending Fraudulent Bank Wires
    June 15, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl