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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

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    The Future of Gambling: How Casino Sites Are Leveraging Web3

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

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    CryptoPunks price surges to $200k, $PUNKS loaner Gondi accused of facilitating chandelier bids

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    You Can Now Buy NBA Top Shot NFTs From Vending Machines in Japan

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    Ordinals soar on the back of Bitcoin art – Here are our top 7 picks

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    NFT sales skyrocket 40% to $221m, CryptoPunks jump 590%

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    CryptoPunks and Pudgy Penguins Secure Top Positions

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    How to differentiate NFTs from memecoins

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    Pudgy Penguins denies rumors that it bought OpenSea

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    Axie Infinity Creator Sky Mavis Backs New BORA-Integrated Game on LINE NEXT App

  • Blockchain
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    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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  • Guides
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    What Is Copy Trading in Crypto? A Beginner’s Guide

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  • Analysis
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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
  • Crypto
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  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

  • Metaverse
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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Experience to Earn: Everdome's Metaverse Frontier

    Experience to Earn: Everdome’s Metaverse Frontier

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

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    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

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    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

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    Carrieverse and Disney Ink Content Deal

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    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

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  • NFT
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    CryptoPunks price surges to $200k, $PUNKS loaner Gondi accused of facilitating chandelier bids

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    You Can Now Buy NBA Top Shot NFTs From Vending Machines in Japan

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    Still Loving My ‘If It Went to Zero’ NFT

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    Ordinals soar on the back of Bitcoin art – Here are our top 7 picks

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    NFT sales skyrocket 40% to $221m, CryptoPunks jump 590%

    CryptoPunks and Pudgy Penguins Secure Top Positions

    CryptoPunks and Pudgy Penguins Secure Top Positions

    How to differentiate NFTs from memecoins

    How to differentiate NFTs from memecoins

    Pudgy Penguins denies rumors that it bought OpenSea

    Pudgy Penguins denies rumors that it bought OpenSea

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    LasMeta and Pyth Network Partner to Unveil NovaDrop NFTs

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    PEPE GAMES Integrates with GaFin to Power the Meme Gaming Hub

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    A Pressure Group Forced Steam to Remove Adult Games. It’s Coming After Crypto Next

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    NFTs Stage a Summer Comeback: Blue-Chips Reclaim Spotlight in July Rally

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    On-Chain Games Don’t Have a ‘Secret Sauce,’ YGG’s New Advisor Says

    Top 5 Gaming Blockchains Set to Explode in the Next Bull Run

    Top 5 Gaming Blockchains Set to Explode in the Next Bull Run

    Off the Grid Skin Sale Volume Hits $30K as the Avalanche Shooter Hits OpenSea

    Off the Grid Skin Sale Volume Hits $30K as the Avalanche Shooter Hits OpenSea

    Octo Gaming Teams Up with Starknet for Exclusive Rollup-Powered Game Launch

    Octo Gaming Teams Up with Starknet for Exclusive Rollup-Powered Game Launch

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    $NAKA’s Play‑to‑Earn Ecosystem Explained: Games, Catalysts, and Where It’s Headed

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  • Blockchain
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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    Polyhedra Network launches Proof Cloud in open beta

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    SoonVerse Partners with Arris to Enhance User Experience

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    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

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    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

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    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

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    ETH Daddy Discusses Ethereum and AI

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    What Is Liquid Staking? How It Works & Why It Matters in Crypto

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  • Analysis
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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Home Blockchain

Flare Network Boosts Security with Elliptic’s Risk Management Tools Integration

November 3, 2023
in Blockchain
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Flare Network Boosts Security with Elliptic’s Risk Management Tools Integration
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Flare, the innovative blockchain platform renowned for its data capabilities, has unveiled a strategic partnership with Elliptic, the global leader in cryptoasset risk management. This collaboration aims to bring advanced transaction and wallet screening tools into the Flare Network, bolstering the security and regulatory compliance of decentralized applications (dApps) built on Flare. This move highlights the growing importance of risk management in the ever-expanding crypto ecosystem.

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Hugo Philion, CEO and Co-founder of Flare, expressed his enthusiasm for the partnership, stating, “By providing developers with data as a public good, we are opening the door to many new potential blockchain use cases and monetization models. Partnering with Elliptic helps us to deliver a highly secure environment for dApp builders, bringing further confidence and credibility to the Flare blockchain while protecting network participants.”

Enhancing Security and Fostering Safe Engagement

Under this partnership, organizations developing dApps on the Flare network will gain access to Elliptic’s real-time wallet and transaction screening solutions. These tools are designed to identify connections to illicit actors and activities within the crypto space, providing users with a robust means to prevent money laundering, adhere to sanctions, and combat fraud.

Elliptic’s wallet screening solution offers a streamlined and precise due diligence process for crypto wallets prior to transactions, enabling organizations to safeguard their operations. Meanwhile, the transaction screening tool, a fully automated real-time monitoring system, is vital for anti-money laundering compliance. It traces the movement of crypto assets across various blockchains, effectively identifying links to terrorist financing, sanctioned entities, and other illicit activities.

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An essential facet of this integration is that Elliptic’s monitoring, compliance, and analysis software now supports FLR, the native asset of Flare. This means that financial institutions, businesses, and regulators can utilize these cutting-edge software tools to identify a wide spectrum of illicit activities, ranging from small-scale fraud schemes and money laundering to sanctions evasion and terrorist financing.

James Smith, Co-founder of Elliptic, stated, “By supporting the Flare network, Elliptic aims to help the organization in its mission to drive the adoption of safe and secure dApps, increasing their relevancy and encouraging wider engagement with the Flare community and blockchain technology. Our next-generation wallet and transaction screening tools will help make dApps operating on the Flare network safer, more regulation-ready, and better protected from inadvertent exposure to sanctioned entities.”

Shaping a Secure Crypto Ecosystem

Elliptic is recognized for covering 99% of cryptoassets by market capitalization, armed with over 100 billion data points that provide accurate and actionable insights. These insights are crucial for mitigating risks and ensuring compliance. With this integration, financial services companies operating on the Flare Blockchain can enhance their on-chain compliance and protect their businesses from engagement with sanctioned actors.

Flare, often described as the blockchain for data, distinguishes itself as an EVM smart contract platform that extends the utility of blockchain technology. It incorporates decentralized oracles into its network structure, making it an ideal smart contract platform for decentralized data acquisition, including price and time series data, blockchain event and state data, and Web2 API data. Flare aims to provide developers with trustless access to a broad spectrum of data at minimal cost, serving as a utility layer for the blockchain industry and enabling the development of new and improved use cases.

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Elliptic, headquartered in London with offices in New York, Singapore, and Tokyo, has positioned itself as the global leader in cryptoasset risk management for crypto businesses, governments, and financial institutions. Recognized as a World Economic Forum Technology Pioneer and backed by prestigious investors such as J.P. Morgan, Wells Fargo Strategic Capital, SBI Group, and Santander Innoventures, Elliptic has assessed risk on transactions worth several trillion dollars, uncovering activities related to money laundering, terrorist fundraising, fraud, and other financial crimes.

Flare’s role as a blockchain for data, offering trustless access to a wide range of data sources, combined with Elliptic’s expertise in crypto risk management, is set to shape the future of decentralized applications and blockchain technology. This collaboration not only strengthens security but also encourages wider engagement with the Flare community, ultimately driving the adoption of safer and more secure dApps. With the integration of these advanced tools, the crypto ecosystem takes a significant step toward a more secure and compliant future.

Tags: boostsEllipticsFlareIntegrationManagementnetworkRiskSecurityTools

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