Hugo Philion, co-founder of Flare, discusses the vital role of decentralized data in the future value of the cryptocurrency industry. He highlights the limitations of current off-chain oracles, emphasizing that reliance on external entities poses security risks, especially when few entities provide critical data. Philion advocates for a decentralized approach, where Flare utilizes 100 infrastructure providers, ensuring that data comes directly from the network and is secured through a combination of their stakes and delegated staking. Flare's Time Series Oracle offers timely data updates, and its Data Connector allows secure access to data from external sources. This decentralized infrastructure aims to enhance the security, usability, and reliability of data in blockchain applications, positioning Flare as a significant player in the DeFi space.

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