What is Songbird crypto and why is it gaining traction?

May 26, 2022 04:37 PM AEST | By Raza Naqvi

What is Songbird crypto?

Flare is a novel Layer-1 blockchain that allows for universal interoperability between chains, allowing all digital assets and onchain data to flow freely. This is cross-chain interoperability with multi-chain security.

The native tokens of the Flare network are Songbird and Spark (FLR). Flare was built for multiple chains through a single deployment and claims that developers can create truly interoperable decentralized applications (dApp) for accessing the value and information of different chains.

Flare comes with an industry standard Ethereum Virtual Machine (EVM), allowing straightforward ETH tool migration and simple Solidity scripting. Any existing EVM dApp may be quickly and easily ported to Flare.

In 2021, Flare introduced a canary network, a working blockchain with a limited token supply to test features for a related main net. Notably, Songbird is Flare's canary network.

Songbird crypto

Bottom line

Songbird crypto ranks 2,983 out of 19,583 cryptocurrencies worldwide, as per CoinMarketCap. The sudden surge in the price and volume of the SGB crypto shouldn't be the only factor for purchasing the cryptocurrency, as we don't know why it is gaining traction.

Songbird has no significant development announcement, and potential investors must be careful before investing.

The Songbird crypto has a total supply of 16.01 billion, and its self-reported circulating supply is 9.99 billion. It is available for buying, selling, and exchanging on crypto exchanges like Gate.io, MEXC, Kraken, and DigiFinex.

Also Read: What is AgeOfGods (AOG) crypto and why its volume soared 1200%?

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