Songbird Price Chart Update [SGB]

The SGB price update as of now is $0.009906. In the previous 24 hours, its trading volume was $341,962, and its value has increased by 0.68%. As of now, SGB's live market cap is $79,582,480, and it is ranked as the #2492 on the Coincu. SGB has a circulating supply of 16,010,958,904 and a maximum supply of 16,010,958,904.

What is Songbird (SGB)?

Songbird is a Canary Network of the Flare blockchain. This network incorporates estimates of externally sourced data into the decentralized Flare platform. Moreover, Songbird serves the purpose of testing the integrity of Flare and the applications developed on it.

The Songbird network operates with two protocols, namely Flare Time Series Oracle (FTSO) and F-Assets. These protocols play a crucial role in providing stability and security for the SGB token, the native token of the project.

The primary aim of Songbird

Songbird has two main objectives:

• Firstly, it serves as an advanced testing and community-building environment for apps intending to launch on Flare. Particularly, applications utilizing the FTSO and F-Asset protocols will undergo initial testing on Songbird.
• Secondly, Songbird serves as a solution for FLR token holders to acquaint themselves with Flare services, including FTSO authorization, minting F-Assets, and utilizing applications built on Flare with zero risk to their FLR token.

Difference between Songbird and Flare

By employing Songbird as a testing ground for Flare's updates, the platform can remain at the forefront of innovation. New dApp launches and improvements will first be implemented on Songbird before potentially being deployed on Flare.

This establishes Songbird as its own network, which benefits certain applications seeking to leverage Flare's core protocols and more advanced features provided by Songbird ahead of Flare. Consequently, Songbird tends to attract low-value applications, while Flare appeals to higher-value applications.

Key features of Songbird

Songbird's State Connector System

The State Connector system of Songbird allows Flare to ensure stability, validity, and transaction order from any underlying blockchain.

Flare Network Validator

Each Flare network validator in Songbird independently monitors the ongoing states of all integrated underlying blockchains.

Agreement on data availability

Prior to the approval of any specific transaction from a blockchain on Flare, it must first be verified by Songbird. Any network can compete by submitting Flare data-proof transactions.

Proof of transaction

Songbird employs proof-of-trade by initially confirming the existence of a payment in a data-available area. If the basic verification is successful, the system prompts the validator to retrieve the payment details using the TXid.

Roadmap

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