Ripple CEO, Brad Garlinghouse has announced that the new Flare platform that will be unveiled will offer clients the combined prowess of XRP, Avalanche and Ethereum.
Brad Garlinghouse was in attendance at the first-ever crypto town hall meeting where he gave the community a glimmer of what the Flare platform was going to offer them. In his full statement, the CEO said that Flare was hoping to combine the use of XRP to provide clients with fast payments while Ethereum will be used to initiate smart contracts.
Furthermore, he said that Avalanche will be exploited to provide consensus and will, in turn, help XRP boost its utility. He, however, said that developers on the platform would have their hands full as they would be able to build smart contracts that will support lending.
New platform to provide users with the feel of XRP, Avalanche and Ethereum features
The new Flare network that will be unveiled by Ripple has promised to award clients on the platform with Spark, which will be used to enable them to use smart contract features.
The new Flare platform is a new platform that provides clients with smart contracts services with the use of a virtual machine that is backed by Ethereum. Furthermore, Flare makes use of the same encryption scheme that XRP uses and in turn will be able to combine the usage of Flare and XRPL for the clients on the platform.
Clients on the new Flare platform will earn free Spark token for holding XRP
According to the CEO of the Flare platform, Hugo Philon, clients on the new platform that holds XRP would be eligible for a reward of the Spark token.
Furthermore, users on the platform can make use of the Spark tokens to make and receive payments provided they use the FXRP. It should be noted that the FXRP acts as the driving force behind the smart contracts present on the Flare platform. Users are allowed to control the future of the Spark asset because it is the governance token on the network.