Flow (FLOW) is a new-gen high-performance blockchain that is tailored for NFT-centric and DeFi-centric use cases. It prioritizes low-code projects to attract developers with various levels of expertise.
It utilizes simple modern programming language Cadence, a first-ever resource-oriented ‘ergonomic’ programming instrument for smart contracts segment.
How does Flow process transactions with the ACID approach?
Flow blockchain is well-known for its approach to scalability that doesn’t involve sharding and second-layer solutions. While sharding scales the computation horizontally (the entire computational cycle is executed via single node so that all labour is distributed between nodes), the Flow’s manner of scaling is vertical: different nodes are responsible for different roles: Collection, Consensus, Execution, and Verification. Thus, computation in Flow is separated from the cross-node interaction itself.
All accounts and decentralized applications on Flow (FLOW) interact with each other via atomic, consistent, isolated, and durable (ACID) transactions. This ensures smooth operations, high-level composability and unmatched user experience for Flow (FLOW) enthusiasts and dApp developers.
Consensus Nodes are responsible for the transactions’ schedule on the blockchain; Execution Nodes perform the computation associated with each transaction; Verification Nodes supervise the operations of the Execution Nodes while Collection Nodes guarantee network integrity and data availability for all accounts and applications.
Why Flow promotes itself as a ‘Blockchain for NFTs’
Flow (FLOW) is recognized as the platform tailored for the projects from the red-hot segment of digital collectibles (non-fungible tokens, NFTs). Flow achieved this status by pioneering the easiest system of dApps on-boarding and very primitive development experience. Even crypto newbies or devs from other IT and fintech segments can easily start experimenting with Flow-based smart contract environments.
Flow (FLOW) utilizes upgradeable smart contracts. This instrument advances the process of dApps onboarding and testing: instead of reviewing the entire build, developers can easily patch bugs and update pre-specified parts of smart contracts.
Flow (FLOW) blockchain is released by Dapper Labs, a team behind the iconic early NFT project Cryptokitties. In 2017, Cryptokitties became the first-ever mainstream application with digital collectibles and introduced the NFT segment for the global crypto community.
Which projects have already started building on Flow?
Flow (FLOW) is already chosen as a preferred NFT on-boarding ecosystem for a number of industry majors. NBA Top Shot, a platform for card trading, highly evaluates the functionality and developer experience of Flow. NFT initiatives of UFC, Samsung, Ubisoft are also hosted by Flow’s smart contracts.
Flow has launched an accelerator for all projects interested in bringing their decentralized applications to Flaw’s smart contracts. Net of $200 million is allocated by Flow team for this accelerator.
Flow’s investing background is rock solid; Andreessen Horowitz, USV, Coinbase Ventures are among the top contributors to its funding rounds.
Which assets have been released in the Flow ecosystem?
Flow boasts unique bi-token design with FLOW as a core utility asset and Flow USD (FUSD) as native stablecoin for DeFi use-cases.
FLOW token can be staked, thus, it is a building block of Flow tokenomics. FLOW can be earned by staking, locking, and delegating assets in Flow’s mechanisms.