Flow

What is a flow?

FLOW is a native token Level 1 Blockchain it bears the same name. The Flow network is designed for the basis for a new wave of digital products, including games, decentralized applications and crypto assets.. Overall, Flow was created keeping the needs of everyday users in mind. It provides a secure and simple process for switching from fiat money to cryptocurrencies.

If you are interested in the current price of FLOW, check out the FLOW price chart above.

Distinctive feature of the Flow network multi-purpose architecture allows you to scale it to support thousands of users without sharding or jeopardize the decentralization of consensus. It uses a four-node architecture, which essentially increases transaction speed and reduces transaction costs.

The Flow network operates using HotStuff algorithm which is a variant of the Proof-of-Stake algorithm. It is a partially synchronous leader-based method. BFT replication algorithm. Once network communication becomes synchronous, HotStuff allows the correct leader to bring the protocol to consensus at the rate of actual network latency and with communication complexity proportional to the number of replicas.

In addition, Flow also uses a completely new cryptographic method called SPoCK (Specialized Proofs of Confidential Knowledge). This method was created by the company’s own research team. With SPoCK, any number of reviewers can confirm to an external observer that they all have access to the same private information.

Besides, Cadence, a simple and secure programming language for crypto assets and applications, is used to create all smart contracts on Flow. Cadence uses a strict static type system. It manages to maintain the desired behavior, thereby reducing runtime errors.

Flow Developers

Cryptocurrency project Flow was developed Dapper Labs. It is a company that offers new digital experiences to users around the world using blockchain technology. Other projects developed by Dapper Labs include Cryptokitties, NBA Top Shot, and so on.

Dieter Shirley is the founder and CTO of Dapper Labs. Shirley accompanied Michael Naayem who is the CBO of the company.

In addition, Dapper Labs has a fairly long list of partners from different industries. It includes:

• Global IP brands (for example, Warner Music, NBA and others);
• Game developers (for example, Sumo Digital, Animoca Brands and others);
• Crypto projects (for example, Binance, Opensea and others).

Purpose of FLOW coins

FLOW is the native token of the Flow network. In fact, it is the basis of the entire ecosystem. Overall, it has many use cases:

• FLOW coins are used for pay for Flow network services for example, processing transactions, storing smart contracts, etc.;
• FLOW coins are used as payment method on dApps created on the webthus allowing dApps to support P2P payments. In addition, FLOW tokens are also used to pay for services provided by dApps;
• FLOW coins can be at stake for network protection using validator nodes. By doing this, stakers can also earn rewards. Additionally, instead of managing the validator nodes themselves, they can delegate their shares to others;
• FLOW coins allow holders participate in decision making processes project.

You should analyze the FLOW price chart if you are looking to buy FLOW coins. Given that FLOW’s price is subject to fluctuations, analysis is critical. Why is he hesitating? This is essentially a result of FLOW’s volatility, which is comparable to that of most other crypto assets. Overall, FLOW tokens are often affected by the same factors that affect the entire cryptocurrency market.

However, in addition to purchasing FLOW, you can also earn it. There are three ways to do this: you can earn it as a sponsor, validator or platform participant:

• As a sponsoryou will receive it for supporting the Flow network;
• How validatoryou get it as a reward for running nodes;
• How platform participantyou receive it as a reward for creating the Flow network.

Tokenomics FLOW

FLOW tokens do not have a maximum supply, which means that they inflationary. If there is demand, more tokens can be issued. 1.25 billion FLOW tokens were initially issued. However, the supply of FLOW will increase over time due to new tokens generated during staking.

20% of FLOW coins are allocated to Dapper Labs, and 32% are used to develop the ecosystem. The remainder of the coins is given to the development team, small and large sponsors, and is also allocated for sale to the community.

Except, convertible banknotes (a sort of hybrid of stocks and bonds) were used by Dapper Labs to raise money before issuing FLOW tokens. Thus, the company managed to raise $24.6 million. However, it is planned to convert these banknotes into FLOW tokens.

Finally, be sure to take a look at the FLOW price chart above where you can see the current price of FLOW.