Delchain partners Flare to facilitate cryptocurrency transactions

Delchain is regulated as a Financial and Corporate Services provider and is part of one of the private banking group in the Caribbean. The company is a one-stop shop for blockchain financial services and aims to bridge the gap between regulated financial services and the world of cryptocurrency.

Flare is a contract platform that applies Federated Byzantine Agreement (FBA) consensus to smart contracts. The platform is built on a modified version of Avalanche and incorporates the Ethereum Virtual Machine, which is the same smart contract engine that also runs on the Ethereum blockchain.

Because Flare doesn’t require a token for staking to garner security, its token Spark (FLR) is used to enable a non-custodial and decentralized way to enable any cryptocurrency from any other chain to be used in smart contracts on its platform. This system is launching with XRP (Ripple transaction protocol), Litecoin, XLM (Stellar) and Dogecoin. The company has plans to add additional tokens.