What is Flow? Check Out the Explanation Here!

What is dlow? This is a new innovation in blockchain technology. A blockchains which currently has a market NFTs such as NBA Top Shot, NFL All Day, and UFC Strike.

Not only that, Flow is also one of the compatible blockchains for Instagram in displaying NFT collections in Instagram user feeds. To learn more about this technology, read the following article.

What is Flow?

Flow is a blockchain Proof of Stake (PoS) layer-1 launched by Dapper Labs in 2020. Dapper Labs was previously known for creating the famous Crypto Kitties, which was one of the pioneers of NFT and blockchain based games.

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The Crypto Kitties launched in 2017 on the Ethereum blockchain grew so fast that it took a hit. This is what prompted Dapper Labs to create its own blockchain, because Ethereum at the time could process 30 transactions per second.

Its blockchain is known for its fast, inexpensive, decentralized, and developer-friendly business support systems. This token is designed for Web3 applications that require user experience such as gaming, NFT, metaverse, to make money.

Many of the products built on its blockchain focus on sports and NFTs such as NBA Top Shot, NFL All Day, UFC Strikes and others. Referring to Flowverse, there are currently more than 300 projects in development on its blockchain.

Users can use Dapper Wallet and other wallets to make various transactions on these technology products.

To support the blockchain ecosystem, this technology launched the stablecoin Flow USD (FUSD) which is pegged to the US dollar at a ratio of 1:1. BUSD is used to support payment transactions for developers building systems on their blockchain.

After starting FUSD, Flow and Prime Trust, a US-based real estate company. However, the stablecoins used are not only BUSD. Flow also supports the use of USDC on its network.

How Flow Works

Web 3.0 usability — How blockchain technology works

As mentioned above, Flow is a blockchain that uses Proof of Stake (Post). These contracts use the blockchain (which acts as a node) to process and support transactions.

In a typical blockchain model, nodes store all data and perform block transaction validation processes themselves.

In the blockchain, the work of the four portals is divided into the tasks mentioned above and the vertical division is carried out. This term is known as a pipe.

When a transaction occurs, each node only makes one transaction so it can focus on its work. This can improve efficiency at every stage of business support.

This process also allows it to deliver thousands of times the productivity at a lower cost. Flow implements this multi-node system to solve the scalability problems faced by first generation blockchains like Ethereum.

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Can Be Used As An Investment

Crypto Portfolio — NFT coin as one of the best investments

According to coinmarketcap, FLOW ranks 32nd in market capitalization of $1.75 billion and has a circulation of 1.04 billion coins.

Currently, as of October 5, 2022, the price is FOW 1.69 US dollars with a trading volume of 44,881.137 US dollars. FLOW reached its highest price or All Time High (ATH) once by touching the price of US$46.16 on April 5, 2021.

When FLOW was released, 1.25 billion FLOWs were created and distributed to FLOW holders with a 32 percent share going to ecosystem development, 20 percent to Dapper Labs, 18 percent to developers, 11.1 percent to large donations, 10 percent to the community, and 8, 9 percent for small donors.

With a fast and easy-to-use blockchain, it works well with many gaming companies and NFTs. In addition, technology also works with major forums such as NBA, UFC, Instagram, Ticketmaster, OneFootball and other forums. Strengthened by these core principles, the future of FLOW deserves our attention.

So, what is flow? Blockchain technology that supports all art activities that you can buy as an investment in the future.

Also read: Marubozu Candle: Definition, Function, How to Use It for Trading

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