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šŸ’„Flare Network gives blockchain a boost with groundbreaking protocol running on Google CloudšŸ’„
November 03, 2022
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FlareĀ started as a research organization looking into the future of blockchain technology. This resulted in the development of our own platform and the launch of Flare Network, a blockchain which presents developers with a simple and coherent stack for decentralized interoperability. Decentralized applications on Flare can safely access information from outside the Flare network including prices and blockchain state, helping to establish a highly secure, interoperable multi-and cross-chain solution.Ā 

One benefit is that by building on top of Flare, it becomes possible to devise bridges that transport value from one blockchain to another, with decentralized insurance that gives peace of mind to users. By alleviating the risk to the user, Flare believes that the blockchain as an industry can scale to hundreds of millions of users and fulfill its potential to benefit multiple sectors from finance to healthcare. That’s why our motto is ā€˜connect everything’.Ā 

Even though Flare is a new startup, we have to maintain enterprise levels of security and availability for our customers. With that, we turned toĀ Google CloudĀ to help ensure that our environment was robust and highly secure from the start, as there is no better solution for tech companies when it comes to security than Google.Ā 

Bringing blockchain to the mainstream

Google Cloud solutions provide us with a reliable infrastructure upon which we can build and monitor our services. Today, our automation is so advanced that we can have a new test network up and running within minutes. Once in place, we can quickly integrate it with any of our connected chain networks, enabling digital assets and on-chain information to flow freely. Google Cloud also gives us certainty that our system environments are resilient and available across 22 regions worldwide. We are confident that if anything happens in one of these areas, we can be back up and running within minutes.

Google Kubernetes EngineĀ (GKE) provides a managed environment for deploying, managing, and scaling our containerized applications. We also take advantage ofĀ Compute EngineĀ to launch virtual machines on demand in less time, which reduces the burden of routine tasks on our engineering team.Ā 

We recently began usingĀ ApigeeĀ to streamline our GTM and security operations for a future API-based web3 cross-chain infrastructure offering (infura but multi-chain) to support our chargeable API platform which is launching in beta soon:Ā https://api-portal.flare.network/Ā 

I saw this first-hand when I joined Flare. One of my first tasks was to get a Flare testnet up and running within one month. Google Cloud took away a lot of the heavy lifting and upfront configuration, so I could focus on fine-tuning the test network.Ā Ā 

Government and financial-grade security

Google Cloud has several government and financial-grade certificates that help ensure our environment is secure, safe, and monitored. For example, Google has received the UK’s National Cyber Security Centre’s (NCSC) Cyber Essentials Plus certification for both Google Cloud and Google Workspace.

It’s also important to mention the support we’ve received from Google Cloud startup experts. They helped us with several reviews and gave us advice on how we could improve our overall system performance. Google Cloud credits has also enabled us to optimize our spend, which is critical as we navigate the startup process and test out different products and projects while we grow.Ā 

Google Cloud support strengthens our credibility with external communities and partners. The resilience and security of the environment gives the developer community confidence that Flare is a reliable base on which to build applications using both price and state from other networks.

For end-users, Google Cloud will help to enable our mission to offer bridging for tokens that lack smart contract capabilities such as Bitcoin, LiteCoin, Dogecoin, Stellar, and XRP.Ā  We will also be offering bridging for smart contract tokens, including Ethereum, USD Coin, and Tether.

As a next step, we’re looking to deploy the latest public APIs for all of Flare’s chains and connected chains to theĀ Google Cloud MarketplaceĀ to lower the barrier to entry for our networks, technologies, and services.Ā 

Moving into the Metaverse

Although these are early days for our business, we see this as a long-term partnership with Google Cloud. We like the way that their platform is evolving, and we can already anticipate how this will support our mission to bring blockchain into the mainstream.

For instance, we recently announced a partnership with a metaverse platform that enables users and their assets to move seamlessly between different metaverse ecosystems. It’s a groundbreaking project and we look forward to continuing to work with Google Cloud to bring this and other exciting initiatives to market in the future.

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The Stellar blockchain ecosystem is experiencing remarkable momentum in 2025, with groundbreaking technical achievements and expanding real-world adoption that position it as a major player in the decentralized finance landscape. From lightning-fast transaction speeds to innovative smart contract capabilities, Stellar is demonstrating that blockchain technology can deliver both performance and practical utility.

Technical Breakthroughs Drive Performance

The Stellar Development Foundation's Q1 2025 quarterly report reveals impressive technical milestones that showcase the network's maturation. The platform now processes an astounding 5,000 transactions per second with remarkably fast 2.5-second block times, putting it among the fastest blockchain networks in operation today.

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Smart Contracts Get Smarter with Soroban

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New Token Standards Meet Market Needs

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Source: The Dinarian ⚔ Claude AI

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šŸ’³ PayPal:Ā 
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Soroban Security Audit Bank: Raising the Standard for Smart Contract Security

The Stellar Development Foundation (SDF) is deeply committed to helping ensure that the highest security standards are available for projects building on the Stellar network. Last year SDF launched the Soroban Security Audit Bank, an initiative to provide projects access to auditing experts and tooling that are proven to help prevent hacks by catching potential bugs, inefficiencies, and security flaws before contracts go live. Through the Soroban Security Audit Bank, we’re empowering teams building on Soroban with comprehensive security audits from leading audit firms, enhanced readiness support, and robust tooling, significantly elevating the ecosystem’s safety and efficiency.

SinceĀ launch, the Soroban Security Audit Bank has successfully conductedĀ over 40 essential audits, deploying over $3 million to support security of the smart contracts on Stellar. Check it out!

Ā 

Ecosystem Success Stories: How the Soroban Audit Bank Drives Security Forward

By making automated formal verification available to developers, in addition to allocating significant budget for securing many of the top DeFi protocols built on top of Stellar, SDF has established a new security standard in the Web3 ecosystem. –Mooly Sagiv,Ā Co-FounderĀ of Certora
SDF has been a strong partner as we’ve worked with teams across the Stellar ecosystem. SDF’s Audit Bank initiative allows for a smooth and streamlined review process, and is a clear reflection of the Stellar ecosystem’s enhanced commitment to security. –Robert Chen,Ā CEOĀ of OtterSec
Ā 

Leading projects within the Soroban ecosystem have highlighted the impact of the Audit Bank

Finding a good auditor is difficult, expensive, and high-stakes. The Audit Bank streamlines the process and supports ecosystem projects with security review at critical growth milestones. –Markus Paulson,Ā Co-FounderĀ of Script3
The audit firms we worked with deeply understood the full ecosystem and the underlying protocols used. Their expertise and the tools from the Audit Bank strengthened our security and supported user and investor trust. –Esteban Iglesias ManrĆ­quez,Ā Co-Founder of Palta.Labs

What's New in 2025: Enhanced Audit Support for Soroban Builders

Teams building financial protocols, high-dependency data services, high-traction dApps funded by the Stellar Community Fund are able to request an audit and will typically be matched with a reputable audit firm within two weeks. We recently restructured the program for this year to enhance audit efficiency and incentivize accountability, and rapid and complete vulnerability remediation:

  • Complimentary Initial Audit: Projects will need to contribute 5% of the audit cost upfront, but this co-payment amount is eligible for a full refund, provided that critical, high, and medium vulnerabilities identified are swiftly remediated within 20 business days of receiving the initial audit report (learn more).
  • Incentivized Security at Key Traction Milestones: Complimentary, extensive follow-up audits are available as projects achieve critical traction milestones (e.g., $10M and $100M TVL). These audits include deeper assessments such as formal verification or competitive audits, significantly boosting project security at pivotal stages.
  • Advanced Security Tooling: Projects can enhance their security self-serve through complimentary or discounted access to specialized tooling, which provide vulnerability detection and formal verification capabilities (see full list of available tooling). These tools are encouraged to capture ā€˜easy-to-spot’ issues prior to audit as well as a final check post-audit to increase the effectiveness and thoroughness of audits.
  • Enhanced Audit Readiness Support: Projects receive structured preparation support, including the implementation ofĀ best practices and security standardsĀ based on the STRIDE threat modeling framework. This ensures project teams are thoroughly prepared, optimizing audit efficiency and minimizing delays.

Get Started Today

If you're already funded through the Stellar Community Fund,Ā meet the criteriaĀ and ready to secure your smart contracts, check your email for an invitation to submit an audit request–if you haven’t received one, contactĀ [email protected].

If you haven't built on Stellar yet, we encourage you to start your journey with theĀ Stellar Community FundĀ to become eligible for future security audits and ecosystem support. For any broader questions on the program, contactĀ [email protected].

Also, we’re organizing an exciting series of workshops–join us for the kick-off onĀ Soroban Security Best PracticesĀ on Friday, May 30, 2025 at 2 PM ET onĀ @StellarOrg. Together, we're shaping a secure and resilient future for smart contracts on Stellar.

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šŸ™ Donations Accepted šŸ™

If you find value in my content, consider showing your support via:

šŸ’³ PayPal:Ā 
1) Simply scan the QR code below šŸ“²
2) https://www.paypal.me/thedinarian

šŸ”— Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! NamastĆ© šŸ™ The Dinarian

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Santander mulls stablecoin, crypto offering

BloombergĀ reported thatĀ Banco SantanderĀ is mulling introducing euro and dollar stablecoins, or potentially making a third party coin available to clients, citing sources. This move aligns with broader crypto ambitions, as its digital bank, Openbank, has reportedly applied for a European cryptocurrency license under the Mica Regulations and may enable retail access to digital assets.

Systemically important banks embrace stablecoins?

Major banks are now moving from observers to participants in this expanding market. Should Santander confirm plans to launch a stablecoin, it will be the fourth global systemically important bank (G-SIB) to do so. Societe Generale’s FORGE subsidiary launched theĀ EURCVĀ euro coin in 2023. Deutsche Bank is a partner inĀ ALLUnity, another stablecoin initiative with plans to launch this year, subject to regulatory approval. AndĀ Standard CharteredĀ is part of a joint venture in Hong Kong that intends to introduce a stablecoin.

Santander’s involvement could extend beyond an individual initiative. The bank is a shareholder in The Clearing House, where the Wall Street Journal reported thatĀ US banks are exploringĀ the potential to create a joint stablecoin. If a US initiative took that route it could involve nine more G-SIBs including Bank of America, Barclays, BMO, BNY Mellon, Citi, HSBC, JP Morgan, TD Bank and Wells Fargo.

Apart from these initiatives, our research shows that more than 20 other banks have been involved in stablecoin projects.

Until recently stablecoins were mainly used to settle cryptocurrency transactions and by residents in countries with volatile domestic currencies. During the last yearĀ stablecoinĀ infrastructure has been expanding, especially for mainstream cross border payments. Plus, President Trump issued an executive order prioritizing stablecoins. One of the administration’s motivations is this increases demand for US Treasuries,Ā lowering the interest rateĀ the government pays on the Treasury bills.

Santander as an early digital assets mover

Santander’sĀ stablecoin consideration builds on years of blockchain experience. The bank was an early Ripple investor and previously used Ripple’s permissioned network for payments (not XRP), while also embracing permissionless blockchain activities including issuing aĀ digital bond on EthereumĀ in 2019. This dual approach led to collaborations with other major players – alongside Societe Generale FORGE and Goldman Sachs, Santander participated in theĀ European Investment Bank’s first digital bond, also on Ethereum. Currently, the bank’s most significant digital money initiative involves Fnality, the wholesale blockchain-based settlement network, where Santander ranks among 20 institutional backers and is part of the early adopter group alongside Lloyds Bank and UBS.

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šŸ™ Donations Accepted šŸ™

If you find value in my content, consider showing your support via:

šŸ’³ PayPal:Ā 
1) Simply scan the QR code below šŸ“²
2) https://www.paypal.me/thedinarian

šŸ”— Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! NamastĆ© šŸ™ The Dinarian

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