FLOW
Flow
$0.0000AUD
Market Cap
2.8B AUD
24H Trade Vol.
309.5M AUD
Total Supply
1.5B
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7D:
+0.00%
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What is Flow?

Flow is a high-performance, layer-one blockchain developed specifically for consumer applications and digital assets. It is designed to serve as a foundation for games, apps, and digital assets, featuring a developer-friendly approach. Flow uses a multi-role architecture to achieve scalability without sharding, making it particularly suitable for consumer-grade applications and non-fungible tokens (NFTs).

How does Flow work?

Flow operates using a unique multi-role architecture that separates the jobs of validator nodes into four distinct roles: Collection, Consensus, Execution, and Verification. This separation allows for increased efficiency and scalability by assigning each node a specific function. Flow utilizes a Proof of Stake (PoS) consensus mechanism, where users stake FLOW tokens to validate and secure the network, earning rewards for their contributions. Additionally, Flow supports smart contracts written in Cadence, a programming language crafted for safety and scalability.

What are the potential use cases for Flow?

Flow has a broad array of potential use cases including the development of decentralised applications (dApps), NFTs, and consumer-facing Web3 products. It is particularly well-suited for high-profile projects and mainstream applications due to its scalability and efficiency. Notable real-world applications include NBA Top Shot, NFL ALL DAY, Disney Pinnacle, and CryptoKitties. Flow’s use cases span various industries such as gaming, NFTs, decentralised finance (DeFi), real estate, and supply chain management.

What is the history of Flow?

Flow was created by Dapper Labs, a Canadian software company known for CryptoKitties, an early NFT project that congested the Ethereum network in 2017. The scalability issues observed with CryptoKitties motivated the development of Flow, a blockchain optimised for high-traffic games and digital assets. Dapper Labs, founded by Roham Gharegozlou, Dieter Shirley, and Mik Naayem, launched Flow’s mainnet in 2020. Significant milestones include NBA Top Shot's rise to mainstream prominence in 2021 and collaborations with major companies like Instagram and Facebook. Flow continues to evolve with a focus on improving scalability and supporting a wide range of applications.

Frequently Asked Questions (FAQs)