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The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3449,"post_author":"3","post_date":"2022-02-11 02:15:37","post_date_gmt":"2022-02-10 15:15:37","post_content":"\n

London, United Kingdom, 10th February, 2022, <\/strong><\/span><\/p>

In support of its growing DeFi ecosystem, Flare has announced a recent partnership with Ola Finance, a platform offering customized lending networks. Ola plans to launch a lending network on Songbird - Flare\u2019s canary network - with future plans to deploy on Flare mainnet. \u00a0This partnership signifies Flare\u2019s growing suite of DeFi offerings. Projects building on Songbird and Flare will have the ability to deploy a lending network through Ola\u2019s protocol, thus offering lending\/borrowing services to their users.<\/p>\n

Ola Finance has partnered with Flare to support the development of the Flare ecosystem. In accordance, Ola\u2019s lending networks will be primed to support all tokens launched on Flare including all F-Asset tokens like XRP, DOGE, ALGO & LTC, thus providing DeFi services to non-Turing complete tokens. \u00a0<\/p>\n

\u201cWe at Ola are thrilled to partner with a rising Layer 1 as promising as Flare. Their F-Asset system that aims to incorporate non-Turing complete assets into DeFi aligns with Ola\u2019s goal to increase the number of tokens that offer DeFi Lending services to their communities. We are excited to align these goals to build out a strong relationship with Flare Network while growing their DeFi ecosystem.\u201d - David Yakira, Co-Founder & CEO, Ola Finance <\/b>

Hugo Philion, <\/b>Co-Founder & CEO of Flare<\/b> said, \u201cWith TVL on Songbird reaching $120m in January, we are delighted that Ola\u2019s lending-as-as-service solution is primed to attract even more liquidity into the Flare ecosystem. Their differentiator within DeFi lending which enables anyone to create their own branded lending network on Songbird & Flare should prove to be very powerful.\u201d

\nOla Finance distinguishes itself from other lending protocol\u2019s with its unique white-labeled, B2B approach. Partners of Ola benefit from owning their own lending network equipped with a deep level of customizability and a unique UI fit to their brand. While projects expand their product suite, Ola serves as a dedicated partner behind the scenes providing continuous maintenance and product development.<\/p>\n

Flare is a unique network that integrates Turing incomplete blockchains with the Ethereum Virtual Machine (EVM), bringing all kinds of assets into a smart contract-enabled ecosystem. Focusing on cryptocurrencies like XRP and Dogecoin, Flare and its canary network Songbird upgrade popular tokens for the DeFi world.<\/p>\n

About Ola Finance<\/b><\/p>\n

Ola Finance is a technology provider that offers lending-as-a-service to its partners. \u00a0While Ola Finance uses its protocol to build the lending network, their partners become the owner of the network once deployed. Ola, with $48 Million in Value Locked, has launched lending networks for partners including SpiritSwap on Fantom, ApeSwap on Binance Smart Chain, and Fuse Network. \u00a0Ola offers these communities access to borrowing\/lending services and all the benefits that come with owning your own Lending Network, without needing to focus resources on developing one.

About Flare<\/b><\/p>\n

Flare<\/u><\/a> is the first Layer-1 blockchain to achieve trustless and secure inter-ecosystem interoperability with any blockchain, while requiring no adaptation of the integrated chain. The combination of next generation consensus, the State Connector and the Flare Time Series Oracle allows Flare to integrate with as many blockchains as possible - creating a powerful cross chain protocol that is truly decentralized, secure and scalable. Fast, low fee and low carbon, Flare lights the way to a unified, decentralized future.
\n\u00a0<\/p>

Contacts<\/h5>
  • Press<\/strong><\/li>
  • [email protected]<\/strong><\/li><\/ul>\n","post_title":"Flare Expands Its DeFi Offering With Ola Finance Partnership","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"flare-expands-its-defi-offering-with-ola-finance-partnership","to_ping":"","pinged":"","post_modified":"2022-09-13 22:25:31","post_modified_gmt":"2022-09-13 12:25:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3449","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
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\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3449,"post_author":"3","post_date":"2022-02-11 02:15:37","post_date_gmt":"2022-02-10 15:15:37","post_content":"\n

London, United Kingdom, 10th February, 2022, <\/strong><\/span><\/p>

In support of its growing DeFi ecosystem, Flare has announced a recent partnership with Ola Finance, a platform offering customized lending networks. Ola plans to launch a lending network on Songbird - Flare\u2019s canary network - with future plans to deploy on Flare mainnet. \u00a0This partnership signifies Flare\u2019s growing suite of DeFi offerings. Projects building on Songbird and Flare will have the ability to deploy a lending network through Ola\u2019s protocol, thus offering lending\/borrowing services to their users.<\/p>\n

Ola Finance has partnered with Flare to support the development of the Flare ecosystem. In accordance, Ola\u2019s lending networks will be primed to support all tokens launched on Flare including all F-Asset tokens like XRP, DOGE, ALGO & LTC, thus providing DeFi services to non-Turing complete tokens. \u00a0<\/p>\n

\u201cWe at Ola are thrilled to partner with a rising Layer 1 as promising as Flare. Their F-Asset system that aims to incorporate non-Turing complete assets into DeFi aligns with Ola\u2019s goal to increase the number of tokens that offer DeFi Lending services to their communities. We are excited to align these goals to build out a strong relationship with Flare Network while growing their DeFi ecosystem.\u201d - David Yakira, Co-Founder & CEO, Ola Finance <\/b>

Hugo Philion, <\/b>Co-Founder & CEO of Flare<\/b> said, \u201cWith TVL on Songbird reaching $120m in January, we are delighted that Ola\u2019s lending-as-as-service solution is primed to attract even more liquidity into the Flare ecosystem. Their differentiator within DeFi lending which enables anyone to create their own branded lending network on Songbird & Flare should prove to be very powerful.\u201d

\nOla Finance distinguishes itself from other lending protocol\u2019s with its unique white-labeled, B2B approach. Partners of Ola benefit from owning their own lending network equipped with a deep level of customizability and a unique UI fit to their brand. While projects expand their product suite, Ola serves as a dedicated partner behind the scenes providing continuous maintenance and product development.<\/p>\n

Flare is a unique network that integrates Turing incomplete blockchains with the Ethereum Virtual Machine (EVM), bringing all kinds of assets into a smart contract-enabled ecosystem. Focusing on cryptocurrencies like XRP and Dogecoin, Flare and its canary network Songbird upgrade popular tokens for the DeFi world.<\/p>\n

About Ola Finance<\/b><\/p>\n

Ola Finance is a technology provider that offers lending-as-a-service to its partners. \u00a0While Ola Finance uses its protocol to build the lending network, their partners become the owner of the network once deployed. Ola, with $48 Million in Value Locked, has launched lending networks for partners including SpiritSwap on Fantom, ApeSwap on Binance Smart Chain, and Fuse Network. \u00a0Ola offers these communities access to borrowing\/lending services and all the benefits that come with owning your own Lending Network, without needing to focus resources on developing one.

About Flare<\/b><\/p>\n

Flare<\/u><\/a> is the first Layer-1 blockchain to achieve trustless and secure inter-ecosystem interoperability with any blockchain, while requiring no adaptation of the integrated chain. The combination of next generation consensus, the State Connector and the Flare Time Series Oracle allows Flare to integrate with as many blockchains as possible - creating a powerful cross chain protocol that is truly decentralized, secure and scalable. Fast, low fee and low carbon, Flare lights the way to a unified, decentralized future.
\n\u00a0<\/p>

Contacts<\/h5>