What is Flow?
Flow - The cryptocurrency designed for a new generation of video games and metaverse applications.
- Flow is a project entirely based on a new generation blockchain, developed to increase its speed.
- Flow offers better performance, and its blockchain is intended to work in markets such as video games and general applications.
- Its token, Flow (FLOW) has the potential to serve as an investment asset to integrate payment methods to video games.
Flow Key Metrics
Cap de Mercado
What is Flow?
Many new cryptocurrencies are developed as conventional Blockchain applications, usually realized in Ethereum (ETH). Although ETH-based projects have many advantages, the increase in users started to bring scalability issues.
For that reason, Flow was born as a new ultra-new generation blockchain, built especially to solve the new problems brought by the Ethereum network. It is also a network project 100 percent designed to be the basis for an entire ecosystem of video games and applications.
One of the main characteristics of the Flow project is that its speed and performance are superior to other projects, without losing its main advantage: a platform with a friendly environment that allows creating, exchanging, buying and selling NFTs (non-fungible tokens).
It was launched in 2020 by the company Dapper Labs, recognized for having launched the CryptoKitties video game (implemented on the Ethereum network in 2017). But, Dapper Labs encountered a very serious performance problem, as when CryptoKitties went viral, the network could not contain all the users testing the application.
For this reason, Dapper Labs decided to found the Flow Playground project, to solve all the problems encountered during the implementation of the video game. Some of the advantages of the network are the following:
- High scalability to increase the speed of transactions.
- High response speed and performance.
- Full support from Dapper Labs in case of any problem.
- Friendlier platform than most of the latest generation Blockchain.
- Its smart contracts are written in Cadence, one of the most widely used programming languages in cryptocurrencies due to its simplicity.
The FLOW Token
The FLOW token was born as the native cryptocurrency of the Flow network, as the company saw the opportunity to grow its project to make way for a new digital, participatory and borderless economy.
Originally FLOW was designed for the network to have a reserve asset, as well as a means of reward for those who want to join the Flow network. In addition, FLOW is the main source of energy that allows the entire network to stay alive.
Shortly thereafter, the creators of FLOW saw the token as an alternative for integrating payments into the video games that were to be launched on the network. For some time after that, and once the token became popular on the network, the applications that could be given to the token increased:
Validation of transactions within the network by verifiers.
- Payment method: FLOW has gradually begun to be seen as an ideal currency for making payments, since its value tends to be maintained over time.
- Data storage: some users use FLOW to pay for data storage on the network.
- Creation of secondary tokens: FLOW has the ability to support native tokens for the creation of new secondary currencies.