Hi everyone! My name is Sean Rowan and I’m the co-founder and CTO of Flare. This first post conveys a short introduction to Flare and how we use Interledger with Flare.
Flare is a new distributed network that uses the same style of consensus as Ripple and Stellar (Federated Byzantine Agreement). However, Flare is Turing-complete and can run full smart contracts - the first release of Flare runs the latest Ethereum Virtual Machine.
A Flare Network is underpinned by the Flare Consensus Protocol (FCP), which is a new construction of Federated Byzantine Agreement (FBA) consensus. An FBA construction does not rely on economic mechanisms for securing consensus because it enables individual nodes to independently effect quorum slice decisions; market forces cause overlaps of quorum slice decisions on the network and this gives rise to the network-wide rule for consensus. FCP achieves fairness by being both leaderless and totally-ordered, making it excessively difficult for an attacker to influence which of two transactions will be ordered first in a transaction set. FCP is also asynchronous and achieves very fast finality. These properties make FCP a compelling model for internet-level Turing-complete consensus.
FCP has a complete mathematical proof of its Byzantine fault-tolerance and it is currently under peer-review; we will publish the whitepaper upon completion of this process. FCP and the EVM Flare Network have also been implemented to production-grade standards as of December 2018 and we are currently undergoing our latest round of cybersecurity audit of our codebase (written entirely in Golang) by a cybersecurity firm that contracts for NATO and many financial institutions.
There are numerous deployments that we have in mind for Flare, and we don’t want to make any particular restriction on how node operators in a Flare Network are remunerated. Concretely:
The Flare Network is not releasing a native token.
We want to enable different node operators to accept remuneration in different currencies of their choice in a single Flare Network.
We even want to enable a single node operator to be able to accept different currencies.
We analysed several options for handling node remuneration, and Interledger matches up perfectly with all of our requirements. We are early-on in our progress with Interledger, and we wanted to open up the conversation now in order to introduce ourselves and get feedback on our use of Interledger as we deploy ILP for Flare node remuneration.
We’re excited to dive into Interledger!