The Flare Time
Series Oracle (FTSO)
The Flare Time Series Oracle is Flare’s enshrined oracle that provides fast, decentralized and highly accurate time series data, such as cryptocurrency prices, to applications on Flare. Because the process is decentralized, no single party is in control, making it exceptionally resilient against manipulation and malicious parties.
Why
Blockchains function in a closed environment, unable to directly access real-world data. Developing useful onchain applications requires fast, cost-efficient, and wide-ranging decentralized data. The FTSO provides this data ensuring onchain applications can interact with real-world data seamlessly.
How
The FTSO is enshrined in Flare’s core protocol, where Flare’s validators serve a dual role as both block validators and data providers. Every 1.8 seconds, with the creation of each block, FTSO uses a verifiable randomness algorithm to select a set of data providers to submit incremental feed updates. This selection process uses a stake-weighted algorithm – providers with more stake are more likely to be chosen, ensuring fairness.
FLR holders can delegate their tokens to data providers they trust, reflecting their confidence in the provider’s reliability and accuracy. Data providers who submit accurate feeds, closely matching the results of a commit-reveal process, are rewarded. These rewards are shared with the token holders who delegated to the successful providers.
This mechanism ensures that each FTSO feed is supported by around 100 independent data providers, selected by Flare users through delegated stakes, imposing a strict economic cost for misbehavior and maintaining the integrity of the data.
The FTSO offers up to 1,000 data feeds, with most of them available for free. This is enabled by the fact that it is built into the network, which unlocks design flexibility. Flare can then optimize the oracles for more efficient data handling and cost minimization.
The Flare Time Series Oracle provides
highly decentralized price feeds.
The Flare Time Series Oracle provideshighly decentralized price feeds.
Decentralized
A network of data providers makes the FTSO decentralized. They are independent entities to Flare and not owned or managed by Flare in any way.
Rapidly updating
FTSO data is currently updated every 1.8 second. Future versions of the FTSO will shorten this interval.
Extendable
More prices and other time series data sets can be added.
Accurate
The FTSO incentivizes accurate provision of decentralized data to the network.
Incentivized participation
Flare token holders receive a share of the FTSO rewards earned by the specific data providers they have delegated tokens to.
