Flow (FLOW)
What is Flow?
Flow is a fast, decentralized, and developer-friendly blockchain, designed as the foundation for a new generation of games, apps, and the digital assets that power them. Flow is the only layer-one blockchain originally created by a team that has consistently delivered great consumer blockchain experiences: CryptoKitties, Dapper Wallet, NBA Top Shot.
FLOW token
The FLOW token (“FLOW”) is the native currency for the Flow network and the keystone for a new, inclusive, and borderless digital economy. If Flow is the digital infrastructure, FLOW token is the fuel that powers the network. FLOW is the currency required for the network and all the applications on top of it to function. FLOW is designed as a payment method as well as a long-term reserve asset for the entire Flow economy. The token is used by validators, developers, and users to participate in the FLOW network and earn rewards. It is also used for fees and to participate in future protocol governance.
The Flow ecosystem
Flow is a blockchain designed from the ground up for mainstream adoption and is the only blockchain that builds usability improvements into the protocol layer. Top developers and some of the world's largest brands are already building on Flow, enabling completely new experiences with top-tier content.
Flow has a rich ecosystem comprised of top entertainment brands, development studios, and venture-backed startups. Flow ecosystem partners include global IP brands like Warner Music, Ubisoft, NBA and UFC; leading game developers, including Animoca Brands, Sumo Digital and nWay; leaders in crypto, such as Circle and Binance; as well as several noteworthy projects among the next generation of high-growth startups, including Opensea.
Who Created Flow?
Flow is the product of Dapper Labs, the company behind the CryptoKitties blockchain game.
Led by founders Roham Gharegozlou, Dieter Shirley and Mikhael Naayem, the team developed Flow as a platform for blockchain-based games and digital collectibles.
Previously called Axiom Zen, Dapper Labs unveiled Flow in 2019 after announcing it had raised $11 million in funding led by investor giant A16z.
Dapper Labs underwent a second funding round led by NBA stars Andre Iguodala and Spencer Dinwiddie, intended to be used towards the development of blockchain-based games on Flow.
How Does Flow Work?
If you are familiar with how blockchains operate, then you know that they are generally made up of nodes that store the entire state of the currency’s history and verify all transactions.
Flow, by contrast, aims to create many subdivisions of its network to allow for the total work to be split across nodes, with each node only validating a subset of the transactions.
Architecture
To do this, the Flow blockchain employs a multi-node, multi-role architecture.
Put another way, Flow has divided the validation stages of a transaction into four different categories, dividing the responsibilities of each node:
- Collection Nodes : Enhance network connectivity and data availability for dapps
- Consensus Nodes : Decide the presence and order of transactions
- Execution Nodes : Perform computation associated with each transaction. These nodes do not have any decision making powers
- Verification Nodes : Double check the work done by the Execution Nodes.
- Flow’s creators argue this level of specialization allows each node to participate in the validation of every transaction, while splitting tasks to increase efficiency.
Developer tools
Smart contracts on the Flow blockchain are written in Flow’s native language, Cadence.
The Flow team has created a website as a learning tool for developers who have never built blockchain applications to familiarize themselves with Cadence.
Another unique feature of the Flow blockchain is that developers can release their dapp in beta, while updating the code as problems arise. Users will be alerted to these changes as they are interacting with the software.
Once the authors submit the final version of the code, it then becomes immutable, meaning that it cannot be changed again.
What makes Flow unique?
Learning from and improving upon existing solutions, Flow provides:
- Multi-role architecture: Flow’s design is one of a kind, allowing the network to scale to serve billions of users without sharding or reducing decentralization of consensus.
- Resource-oriented programming: smart contracts on Flow are written in Cadence, an easy and safe programming language for crypto assets and apps.
- Developer ergonomics: from upgradeable smart contracts to the Flow Emulator, this network is designed for those who want to build valuable products for the community.
- Consumer onboarding: Flow was designed for mainstream consumers, with payment onramps enabling a safe and low-friction path from fiat currencies to crypto.
Flow’s creators
Dapper Labs was the original creator behind Flow blockchain as well as Cryptokitties, Dapper, and NBA Top Shot. Founded in 2018, Dapper Labs uses blockchain technology to bring new forms of digital engagement to users around the world. Blockchain-enabled applications can bring fans closer with the brands they love, give people a real stake in the communities they contribute to, and create new ways for consumers to become creators themselves. Publicly-announced Dapper Labs partners include the NBA and NBPA, Warner Music Group and UFC. Notable investors in Dapper Labs include Andreessen Horowitz, Union Square Ventures, Venrock, Google Ventures, Samsung, and the founders of Dreamworks, Reddit, Coinbase, Zynga, and AngelList, among others.
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