Songbird is the Canary Network of Flare and is an operational blockchain network. SGB or the Songbird token is the native token of the Songbird platform.
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What Is Songbird (SGB)
Songbird is the Canary Network of the Flare platform. It's a functional blockchain with a limited token supply, built to test features of a corresponding mainnet for the layer-1 protocol, Flare. Songbird uses a consensus protocol that doesn’t rely on mining or staking. The Songbird Network tests Flare’s architecture, F-Asset, and FTSO’s functionality and ensures the network's stability before the actual launch.
Flare is the technology behind Songbird. It's a low-cost, highly decentralized smart contract platform with high scalability and a low carbon footprint. Flare enables any cryptocurrency, including those incompatible with smart contracts to be used in various DApps (decentralized applications). Flare enables secure interoperability between chains, increasing blockchain scalability capacities.
Songbird will have two distinct phases for Flare. Before the network launch (expected on July 4, 2022), it'll be used to test the network components. After the launch of Flare, Songbird will also be the platform where all apps that launch on Flare will initially get tested. The SGB token can also be used in the governance of the Flare Network and vote on the key decisions, including the addition of new blockchain compatibility or F-Assets.
How Does Songbird (SGB) Coin Work
Songbird is a platform where developers can deploy smart contracts and test features before transferring them to the Flare Network. It uses the consensus algorithm FBA (Federated Byzantine Agreement), making the network fast, cheap, and scalable.
SGB, the native token of Songbird, has a total supply of 15 bln tokens. The SGB price is volatile, and its yearly inflation rate is 10%. It has a circulating supply of 9.98 billion tokens. Users can stake or mint the token without putting the token at risk.
The current Songbird price is around 92% lower than its all-time high of $0,713340 reached on September 30, 2021.
Songbird (SGB) Coin Founders
According to the official Flare Network website, the Flare team is small and consists of highly specialized members. The co-founders of the protocol are Hugo Philion, investment and financial risk management specialist; Sean Rowan, engineer and Golang developer; and Nairi Usher, a researcher in Quantum Machine.
How to Buy Songbird (SGB) Coin
You can trade Songbird on various cryptocurrency exchanges, including Bitrue, Kraken, Gate.io, Bitstamp, Mexc, DigiFinex, CEX.IO, etc.
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