Key Takeaways
Flare Networks is working to introduce good contracts on Litecoin.
This function will introduce utility and growth capabilities, much like the performance discovered on Ethereum.
Litecoin customers also can take part in Flare Networks’ airdrop.
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Litecoin will obtain good contract capabilities by means of Flare Networks, in line with a tweet from the latter challenge.
Flare Networks Provides Good Contracts
Flare Networks states that it’ll introduce the function forward of its launch in Q2 2021. It says that it will enable Litecoin for use on Flare “with Ethereum-style good contracts,” noting that it will present Litecoin with “interoperability and composability.”
Although Flare Networks has not but introduced exactly what builders will have the ability to do with good contracts, it’s probably that Litecoin builders will have the ability to create decentralized purposes (dApps) much like these discovered on Ethereum.
Flare Networks may also airdrop tokens to Litecoin holders. The challenge will reallocate 5 billion FLR tokens from its personal holdings to be able to pay those that take part within the airdrop.
Flare can also be working to combine good contracts with XRP Ledger in an identical method. It is going to launch tokens from that airdrop later this 12 months.
Is the Mission Viable?
Flare is a third-party challenge, however the Litecoin Basis has acknowledged its efforts, noting that it’s “very excited to see the potential of good contracts and interoperability” coming by way of Flare.
Nevertheless, different third events have pursued comparable objectives with little fanfare. In 2018, Litecoin chief Charlie Lee beforehand acknowledged Litecoin assist for good contracts by means of a unique platform, Abra. These good contracts have been restricted to sure features on the Abra buying and selling platform.
Flare’s good contracts will seemingly be rather more full-featured. Nonetheless, it’s not clear that Flare-based good contracts will likely be broadly used or change into extremely seen when the challenge goes reside.
On the time of scripting this writer held lower than $60 of Bitcoin, Ethereum, and altcoins.
Shutterstock picture by Pasuwan.
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