Flow was founded in October 2020 by Dapper Labs with the founders Roham Gharegozlou and Dieter Shirley. It is designed to be a blockchain platform for dapps, games and NFTs. Flow has real-world utility and is currently mostly known for NBA Top Shot, an NFT marketplace where fans can purchase and sell NBA moments as NFTs. Flow also has partnerships with well-known corporations like Samsung, Ubisoft, Dr. Seuss, Cryptokitties, and many more.
Like many well-known blockchains, Flow has upgradable smart contracts and is robust and responsive. It is designed to be user-friendly so that a wide range of users can use the platform without being confused. Flow is also open-source which makes it easier to detect bugs and improve them, further protecting the system from malicious users and apps. It is also good to know that according to Flow, “A significant allocation of Flow tokens will be reserved for early user and developer growth.”.
Flow has achieved a high processing speed by splitting nodes into four categories:
Applications on Flow share the same way of execution, which allows every application to be a platform. It is referred to as Atomic Consistent Isolated and Durable transactions, AKA ACID transactions. Sharing and layer-2 solutions break composability and reduces network’s effects for dapps and smart contracts by removing ACID guarantees.
NBA Top Shot is an NFT marketplace where fans can purchase their favorite NBA moments as NFTs. These NFTs are sold in packs that are filtered by above tiers:
FLOW is the native token of Flow network which can be staked to validate the network. Since there are different types of validators, this page can explain each node’s staking details. FLOW is used for data storage, paying transaction fees and medium of exchange. Its total supply is 1.25 billion with a market capitalization of $546 million, ranking #46 in the market capitalization ranks.
Flow’s ROI over the past year is 2,417%, meaning if you had invested $100 in FLOW last year, you would have $2,417 by now. A great capable marketing team and brand awareness have direct impact in the success of any project. With that being said, Flow had a 55% increase in Twitter followers in the past 5 months.
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