FAQs

BurstNodes is a decentralized platform designed to empower users by offering tools for securely managing and delegating cryptocurrencies on the Flare blockchain and its connected ecosystems. It leverages cutting-edge blockchain technology to ensure transparency, speed, and security for every transaction. With BurstNodes, users can participate in the Flare Time Series Oracle (FTSO) and contribute to the decentralized data ecosystem while earning rewards.

We are not a wallet provider. BurstNodes integrates with wallets like MetaMask and others to handle transactions. This ensures that you retain full control over your assets and private keys.

BurstNodes currently supports major cryptocurrencies such as FLR, SGB, and other tokens native to the Flare and Songbird networks. It also supports Wrapped and ERC-20 tokens associated with these ecosystems.

Currently, BurstNodes does not directly support buying or selling cryptocurrencies. However, you can easily use external exchanges or use third-party platforms for such transactions.

You can manage your cryptocurrencies easily through the Account section on the BurstNodes website:

1. To Send: Use the Send buttons. Enter the recipient's wallet address, specify the amount, and confirm the transaction.
2. To Receive: Copy your wallet address from the Account Info section and share it with the sender.
3. To Wrap: Use the Wrap button to convert into its Wrapped version for delegation or other use cases.
4. To Unwrap: Use the Unwrap button to convert its Wrapped version back into its native currency.

All transactions are processed securely via your connected wallet.

Transaction times depend on the network load and the specific blockchain you're using. Typically, Flare and Songbird transactions are processed within a few seconds to a few minutes.

Yes, BurstNodes supports Wrapped Tokens and other digital assets compatible with the Flare blockchain ecosystem. Additional asset types may be added as the platform evolves.

Yes, BurstNodes is accessible to users worldwide. However, certain features may depend on regional regulations, so check your local guidelines for using cryptocurrency wallets and services.

You can contact our customer support team via our X account here: BurstNodes

BurstNodes is committed to user privacy. We only collect essential information required to improve your experience, and we never share your data with third parties. Personal information is encrypted and stored securely in compliance with the latest data protection standards.

XRP is the native digital asset of the XRP Ledger (XRPL), an open-source blockchain designed for fast, low-cost, and scalable transactions. It settles transactions in 3-5 seconds, with minimal transaction fees, and can handle up to 1,500 transactions per second.

The XRP Ledger (XRPL) is a decentralized, open-source blockchain designed for fast, energy-efficient, and cost-effective transactions. It serves as the foundation for the XRP cryptocurrency and supports a range of features, including payments, tokenization, decentralized finance (DeFi), and smart contracts.

Transactions on the XRP Ledger (XRPL) are validated using the XRP Ledger Consensus Algorithm, which involves a network of independent validators. Here's how the validation process works:

1. Transaction Proposals: Transactions are proposed by users and submitted to the network.
2. Consensus Process: Validators in the network communicate and vote on which transactions should be included in the next ledger.
3. Agreement: If at least 80% of validators agree on the proposed transactions, they are validated and added to the ledger.
4. Finalization: Once validated, the new ledger is finalized, ensuring the integrity of the network.

This consensus method allows transactions to be validated quickly, typically within 3-5 seconds, without the need for energy-intensive mining.

XRP is the cryptocurrency that runs on the XRPL. The XRPL is the blockchain platform that powers XRP transactions and enables fast, secure, and decentralized payments around the world.

Every transaction on the XRPL requires a small fee, which is paid in XRP. The fee is typically very low, often a fraction of a cent. It is used to prevent scam and ensure the network remains secure and reliable. The fee is determined by the network's load (i.e., how many transactions are being processed at any given time). When the network is busy, the fee can increase slightly to ensure smooth processing. Conversely, the fee decreases during periods of low activity.

The Flare Network is a decentralized network designed to bring smart contracts to multiple blockchain networks. It uses a unique consensus mechanism called the FBA (Federated Byzantine Agreement) to ensure secure and fast transaction processing.

The address structure is the same as on the Ethereum network, therefore you can reuse the same addresses from that network. If you do not yet own an address, you can use the default address that is generated when opening a crypto currency wallet, such as Metamask.

If you held Ripple (XRP) on December 12, 2020, you will receive FLR tokens as part of the airdrop. Alternatively, you will be able to buy FLR tokens on the exchanges that list them.

By delegating your WFLR tokens, you can earn rewards if the data provider to whom you delegated your tokens is successful. FTSO data providers provide exchange rates from exchanges to the Flare network (e.g., ETH/USD rate) and if they provide better (more precise) rates they receive higher rewards. Note that by delegating you still keep all your WFLR tokens and can use them freely.

The Flare Time Series Oracle (FTSO) is a decentralized data provision system designed for the Flare Network. Its purpose is to provide accurate and reliable real-world data, such as asset prices, to smart contracts on the blockchain. Since blockchains are inherently isolated systems, they cannot access external data without oracles like the FTSO.

No. Rewards are distributed in units that are called epochs. Each epoch lasts 3 and a half days (84 hours). You will be entitled to a reward for a specific epoch if you delegated your WFLR tokens to a data provider before the so-called snapshot block for that epoch happened. This block is randomly selected around a day before an epoch started. For example, if an epoch started on Jan 1, you should have delegated your tokens before Dec 31, and you will be entitled to the reward after the epoch ends.

Executors are addresses you entrust to claim your rewards for your account (and your PDA). You can set your own service to simplify claiming or select an existing service which will regularly claim for you for a fee. Note that executors can only claim to your account (or to your PDA) and cannot perform other actions on your account.

The FlareDrop is a distribution method for the 24.25B remaining FLR tokens after the original airdrop. It is distributed monthly over 36 (30-day) months to those that wrap their FLR tokens.

The FTSO works by using multiple data providers to ensure that no single entity can dominate or manipulate the data. As well it uses a median-based consensus mechanism to determine the most accurate price for each asset, this process makes extreme outliers excluded from the final data. The resulting median price is published to the Flare Blockchain for smart contracts and decentralized applications (dApps) to access in real time. The reliability of the data makes it a valuable tool for developers looking to build smart contracts that rely on real-world data.

The FTSO along with a state connector which is a protocol that allows Flare to interact with other blockchains, enabling cross-chain functionality. As well Flare supports Ethereum-based applications allowing developers to migrate dApps with ease.

Songbird is the canary network for the Flare Network, designed to test new features and updates before they are deployed on the main Flare blockchain. It acts as a testing ground for developers and users, providing a risk-free environment to experiment with new functionalities in a live, decentralized setting.

The SGB token is the native governance and utility token of the Songbird network. It is used for network governance, allowing holders to vote on protocol upgrades and changes. SGB also incentivizes validators and delegators through staking rewards, and is used to pay transaction fees within the network. As Songbird is a testing environment for the Flare network, SGB helps simulate real-world use cases for upcoming features and updates before they are deployed on the mainnet.

Yes, the Songbird network is secure and reliable. It uses a Federated Byzantine Agreement (FBA) consensus mechanism, similar to the XRP Ledger (XRPL), which ensures fast, secure, and energy-efficient transaction processing. The network is maintained by a decentralized community of validators and developers who work to identify and address any potential issues. Additionally, as Songbird serves as the canary network for Flare, it undergoes extensive testing and experimentation before updates are deployed to the main Flare network, further ensuring its stability and security.