Flare works with elliptic for crypto risk management

• Flare works with Elliptic to improve the security and compliance of the blockchain.
• Integration offers a real-time wallet and transaction check for the decentralized applications of Flare.
• The elliptic risk management tools now support FLR and thus help with the identification of illegal crypto activities.

In a strategic step to strengthen security and compliance with legal regulations in the blockchain area, Flare, the innovative blockchain platform for data, a partnership with Elliptic, a leading worldwide provider of risk management for crypto-assets. This partnership comes barely three days after the Flare team has presented a public pilot service for FLR token owners, which corresponds to a proof-of-stake consensus model

This cooperation aims to integrate the advanced transaction and wallet screening tools from Elliptic into the Flare network and companies that create decentralized applications (DAPPS) on the platform to offer decisive advantages.

strengthening security through elliptic integration

The integration of Flare with Elliptic is a significant progress in improving the security of DAPPS that run on the Flare Blockchain. By using Elliptic's expertise, Flare offers its users access to real-time wallet and transaction screening tools, with which all connections to illegal actors can be uncovered in the crypto range.

The Elliptic wallet screening solution offers users precise DUE diligence functions for evaluating crypto wallets before transactions take place. This tool helps organizations to prevent money laundering, keep sanctions and combat fraudulent activities, which strengthens the integrity of crypto transactions in the flare network.

The partnership also introduces the automated transaction screening tool from Elliptic into the Flare ecosystem. This real-time monitoring solution pursues the movement of cryptoplitis across various blockchains and assets and identifies connections to activities such as terrorism financing, sanctioned companies and other illegal behavior. For DAPP developers and users, this integration offers robust defense against crypto -related financial crime.

The crypto risk management tools from Elliptic

elliptic, known as the global market leader in the risk management of crypto-assets, covers 99 % of crypto-assets after market capitalization and has collected over 100 billion data points. This abundance of data enables elliptic to provide precise and implementable knowledge so that users can reduce risks and ensure compliance with legal requirements.

Integration also extends to the support of the native assets of Flare, FLR, and offers financial institutions, companies and supervisory authorities the necessary tools to identify a wide range of illegal activities. These activities range from small attempts to fraud to more serious threats such as money laundering, sanction bypass and terrorism financing.

With this partnership, Flare gives a clear statement about its commitment to safe and regulated DAPP development. By providing improved security measures through the first-class screening tool from Elliptic, Flare wants to strengthen the trust, credibility and user commitment within the Flare community and at the same time ensure that his blockchain remains a trustworthy platform for data-controlled innovation.

In a world in which the interface between blockchain technology and compliance is of crucial importance, this partnership between Flare and Elliptic brings robust solutions to the market, which ultimately make the crypto compartment more secure and transparent for everyone involved.