Flare Network and Bloxico Partnership
Flare, a Layer 1 blockchain for data, has partnered with Bloxico, a blockchain consultancy and development firm. This partnership aims to bring community trust metrics to the Flare network by introducing a “Reputation Score” based on various factors. The score will be calculated using both on-chain data and subjective community-based measures to determine the final score of a Flare network participant.
Enhancing Utility of the Blockchain
As a blockchain for data, Flare aims to enhance the overall utility of the blockchain. The platform includes decentralized oracles and an EVM smart contract optimized for decentralized data acquisition. The Reputation Score allows new users to easily spot the best oracles, network participants, and apps on Flare, eliminating the need to sift through multiple providers.
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Bloxico’s Contributions to Reputation Score
Bloxico has been offering Web 3-focused services to institutional clients and has now added features to the Flare Reputation Score. The score reduces the barrier to entry for new participants and combines on and off-chain metrics to give the final score on infrastructure providers that users aim to engage with. It also provides a safer channel for new community members to deploy capital.
Benefits of Reputation Score Implementation
The introduction of the Flare Reputation Score increases the incentive for deeper network involvement and contribution by infrastructure providers, supporting the health and safety of the wider ecosystem. In the future, the score will also be added to applications, platforms, and other key network participants such as FAssets agents and LayerCake bandwidth providers.
Hot Take: Revolutionizing Community Trust Metrics
The strategic partnership between Flare Network and Bloxico is set to revolutionize community trust metrics within the blockchain space. The implementation of the Reputation Score not only enhances transparency but also provides users with a convenient way to select between different apps and Flare participants once a new system is launched on Flare’s mainnet.
