The Flag Blockchain

Network Overview and Key Metrics

Flag is the decentralized EVM-compatible public blockchain that powers the Flag platform and ecosystem. It is fully compatible with Ethereum meaning that any smart contract that can be deployed on the latter can also run on top of Flag.

The Flag blockchain uses a variant of delegated Proof of Stake (dPoS) for achieving consensus. The consensus is secured by a number of independent validators, across different servers globally.

Validators are also responsible for the most important type of governance on Flag, namely, adopting the network protocol changes via Flag Improvement Proposals (FIPs).

The native coin of the network is called FLAG. FLAG coins are use to pay for gas, just like ETH on Ethereum.

The Flag blockchain is designed to ensure fast block confirmation times and a low cost of transactions. The average block interval on Flag is around 5 seconds, and it currently costs much less than $0.01 to get a transaction confirmed.

In its present capacity, the Flag blockchain is capable of processing around 120 native coin transfers and 60 FLG20 token transfers per second. The faster processing of transfers is due to far less network congestion and the innovations within the blockchain.