Flow (FLOW)
Flow is a decentralized, layer 1 blockchain developed by Dapper Labs, the creators of CryptoKitties. It serves as a foundation for decentralized applications (Dapps), non-fungible tokens (NFTs), games, and its native cryptocurrency, FLOW.
Overview of Flow
Flow is a permissionless network that integrates Byzantine Fault Tolerant (BFT) consensus algorithms with proof-of-stake (PoS) to maintain robust security and efficiency. The blockchain addresses the throughput limitations found in traditional PoS blockchains by separating the selection and ordering of transactions from their execution. Flow was launched in 2020, accompanied by the Flow Playground, a development tool for experimenting with smart contracts and Dapps. This blockchain emerged following the popularity of Dapper Labs’ CryptoKitties in 2017, which highlighted the need for a new blockchain solution.
| Ticker | FLOW |
| Category | Smart Contract Platform |
| Website | https://flow.com |
| @flow_blockchain | |
| Telegram | flow_blockchain |
Infrastructure of Flow
Flow's infrastructure is designed to enhance throughput using a pipelined structure, allowing the creation of a new block while the current block is still being processed. This differs from the single-cycle processing architecture of traditional blockchains. Flow acknowledges the different capabilities of nodes and assigns specific tasks to each, categorized into four roles: Collector Nodes, Consensus Nodes, Execution Nodes, and Verification Nodes.
Key nodes in Flow
The Flow architecture adheres to the principle of separation of concerns, differentiating between Consensus Nodes and Execution Nodes. Consensus Nodes handle subjective tasks, while Execution Nodes manage objective tasks, distinguishing between operations with deterministic and non-deterministic solutions.
Principles of Flow
Flow’s architecture is built on four core principles to ensure security: detectability, attributability, punishability, and recoverability of faults. Tasks are randomly assigned to nodes, and any detected faults are attributed to the responsible nodes. Nodes face penalties, such as stake slashing, for faults. The protocol incorporates result verification and challenge resolution to counteract potential malicious activities, ensuring negligible risk of successful fault injection.
History of Flow
Flow and UFC partnership
On February 26, 2020, Flow announced a collaboration with UFC to develop crypto-backed digital assets and a blockchain game named UFC on Flow. This initiative aims to create a unique experience for MMA fans by offering collectible items that can be traded in an open marketplace. The platform UFC Strike currently facilitates buying, selling, and trading of NFTs, featuring starter packs, memorable moments, and HypeNFTs.
NBA Top Shot on Flow
Launched on October 1, 2020, NBA Top Shot is a marketplace for trading NFT clips from the NBA, powered by Dapper Labs on the Flow blockchain. Users can collect multimedia "moments" that showcase significant highlights in basketball history, with tokens varying in rarity and featuring videos and statistics of notable events.
Vault by CNN
On June 16, 2021, CNN launched "Vault by CNN," an NFT collection on the Flow blockchain highlighting moments from its 41-year history. Uniquely, purchases could be made using fiat currency, with buyers setting up digital wallets and making payments via credit cards.
Flow token’s Instagram-related buzz
In August 2022, Meta announced support for the Flow Blockchain on Instagram, allowing users to display their NFTs. This announcement led to increased interest in the FLOW token.