Flow β€” an interesting NFT-focused blockchain
October 22nd, 2022

What is Flow?

Flow is a layer 1 blockchain built for decentralized apps, games, digital assets, and more. Built by Dapper Labs, the company behind Cryptokitties.

Cryptokitties β€” Image by DapperLabs
Cryptokitties β€” Image by DapperLabs

In 2017, Ethereum was congested because of the huge amount of transactions created by Cryptokitties. This showed them that there is a big potential for NFT to go mainstream and also a sign of the scaling problem of Ethereum. This is why they built Flow.

How does Flow work?

Flow is a multi-role architecture blockchain. There are four different roles of validators. Each of them works separately to maximize the speed and throughput while retaining decentralization. Moreover, there is no sharding so the transactions are always ACID.

Validator Nodes β€” Image by Flow
Validator Nodes β€” Image by Flow
  • Collector Nodes increase efficiency

  • Execution Nodes enable speed and scale

  • Verifier Nodes guarantee correctness

  • Consensus Nodes ensure decentralization

Flow is Friendly

Example of approving a transaction
Example of approving a transaction

Flow uses Cadence as a smart contract programming language. It is a resource-oriented paradigm. A resource (not object!) can only exist in one place at a time, preventing duplication and accidental deletion. I found this language secure and very easy to learn.

I feel very confident when I approve a Flow transaction. The script is readable by default (not encoded!) and easy to read. This helps to protect the users from malicious apps.

FLOW token

FLOW is the native currency for Flow network. It can be used for transaction fees, computation fees, payments, governance, staking, collateral for DeFi, and more.

It’s been a tough year for Flow and other tokens with the current global market condition. Despite the loss in this bear market, Flow still has the largest Market Cap in NFT sector. The token from ICO investors($0.1) is also fully vested since 16 Oct 22. Therefore, most of the tokens are now circulating and the price could be more stable from now.

Data from Dropstab
Data from Dropstab

Flow is the king πŸ‘‘ of sports collectibles

They have partnered with many official associations and big brands.

NBA Top Shot πŸ€

NBA Top Shot β€” Image by DapperLabs
NBA Top Shot β€” Image by DapperLabs

NBA Top Shot β€” an NFT marketplace where fans can buy, sell, and trade officially-licensed NBA moments. It’s the flagship product with HUGE success.

$1.2B+ in total sales | 22M+ transactions

NFL ALL DAY 🏈

NFL ALL DAY
NFL ALL DAY

NFL ALL DAY β€” where you can collect and trade the NFL's best highlights as officially licensed digital video collectibles.

$100M+ in total sales | 2.2M+ transactions

UFC Strike πŸ₯Š

UFC Strike
UFC Strike

UFC Stike β€” Official Video NFT Partner of UFC. Collect the most iconic video highlights from the biggest fighters from UFC.

$12M+ in total sales | 500K+ transactions

Fancraze 🏏

Fancraze
Fancraze

Fancraze β€” the metaverse for cricket. A gamified platform where you can collect officially-licensed ICC digital moments and player cards.

Laliga Golazos ⚽️

Laliga Golazos
Laliga Golazos

Laliga Golazos β€” collect the biggest moments from Laliga and complete challenges. Coming soon βŒ›οΈ.

Sources
https://www.onflow.org/
https://www.dapperlabs.com/
https://cryptoslam.io/

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