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Flare (FLR), a layer-1 blockchain for data, has secured a round of funding from its early backers aimed at reducing immediate liquidity while boosting investment into the Flare ecosystem, according to a press release shared with Finbold on February 23. The early invest ors in Flare, such as Kenetic and Aves Lair, have reaffirmed their confidence in the project by agreeing to extend token vesting periods, imposing limits on token sales, and helping develop various aspects of the Flare ecosystem .  Flare funding details The funding signals a prolonged commitment from Flare’s already long-standing supporters and a desire to safeguard the community, foster future growth, and remove some pressures from the token’s ecosystem. Picked for you Dogecoin competitor threatens 100% bullish breakout 5 mins ago Donald Trump's latest insights on paying with Bitcoin 18 mins ago Bifrost receives a 500k DOT treasury liquidity loan from Polkadot to enhance liquid stakin...

Ava Labs is making headlines with a new update for the Avalanche (AVAX) blockchain. The upgrade, dubbed Vryx, promises to handle an eye-popping 100,000 transactions per second (TPS). On Jan. 26, the company shared a sneak peek into this development, which is about making the blockchain run smoother and faster. AVA LABS UNVEILS VRYX SCALING SOLUTION, TARGETS 100,000 TPS ON AVALANCHE Blockchain builder Ava Labs reveals details of its scaling solution , Vryx, aimed at achieving speeds of around 100,000 transactions per second (TPS) on the Avalanche blockchain. Ava Labs plans to… pic.twitter.com/CcVblSlZoY — Mario Nawfal’s Roundtable (@RoundtableSpace) January 27, 2024 This development addresses one of blockchain technology’s most critical and long-standing challenges: scaling networks to handle larger transactions without compromising security or decentralization. Ava Labs expects to initiate this technology on the HyperSDK testnet, a toolkit for building high-performance blo...

An in-depth look at tokenizing social media profiles and creating a more transparent ecosystem for social media users. Social media platforms have revolutionized communication and information sharing, connecting people across the globe and providing a platform for personal and professional growth. However, with this increased connectivity comes a new set of challenges, particularly around the issue of fake engagement and bot activity. In recent years, the rise of automated bots and fake accounts has plagued social media platforms, leading to a distorted picture of user engagement and a lack of trust in the authenticity of the content. This problem is not only a concern for individual users but also for brands and businesses that rely on social media as a marketing and advertising tool. However, a potential solution to this problem is emerging through the rise of Web3 and the use of blockchain technology. By tokenizing social media profiles, users can prove their authenticity and estab...

Making the blockchain space more welcoming to creators can open up more use cases. The blockchain space has long been an attractive medium for creators of all kinds. From digital artists to software developers, blockchain tech has something to offer. However, one big challenge still remains in the space - most blockchains follow the ‘to each their own' concept. Interoperability in web3 is still scarce, which limits creators and makes the entry point for many a bit steeper. One of the main elements that creators of all areas are still seeking is the opportunity to collaborate freely and effortlessly. What needs to improve? As things stand at the moment, blockchain developers scarcely have the opportunity to build collaboratively. While a team of devs can come together and work on a single project, the opportunity for cross-chain collaboration is virtually nonexistent. Developers select a blockchain they’d like to work on, and there is little room for integrations beyond that protoc...