Flow

About Flow

Flow is a next-generation blockchain built for decentralized applications, like crypto networks, games, and digital assets. Created by Dapper Labs, the team behind the viral CryptoKitties game on Ethereum, Flow seeks to provide a fast, scalable, and user-friendly blockchain platform.

With its robust architecture and developer-friendly environment, Flow strives to enable the next generation of games, apps, and digital assets that require blockchain technology. The high throughput and low latency of Flow could support mainstream adoption for blockchain-based experiences.

History of Flow

Flow was created by Dapper Labs, a Canadian startup focused on blockchain gaming experiences. After the success but congestion issues of CryptoKitties in 2017-2018 on Ethereum, Dapper Labs saw the need for a blockchain tailored specifically for consumer applications at scale.

In September 2019, Dapper Labs announced Flow as a new layer-1 blockchain to solve scalability for decentralized apps. The Flow testnet launched in April 2020, followed by the mainnet in September 2020 with staking enabled. The FLOW token then became available in public markets in October 2020.

Flow was designed from the ground up with scalability, usability, and consumer adoption in mind. As blockchain gaming and apps grow, Flow aims to be the go-to blockchain for these user-facing decentralized experiences.

Flow Blockchain Overview

Built in Rust and Cadence, Flow is designed for consumer-scale decentralized applications. Key innovations in Flow include:

• Multi-node architecture – Combines verification nodes with consensus nodes for optimal security and speed.
• Proof-of-Stake – Validators stake FLOW tokens to operate consensus nodes. This allows high transaction throughput.
• User accounts – Flow provides user accounts with recoverability, removing the need to manage keys.
• Upgradeable smart contracts – Developers can easily upgrade contract logic, enabling iterating and bug fixing.
• Flow Port – Enables simple integration for developers building with mainstream programming languages.
• Flow ecosystem – Grants, hackathons and programs support new developers building on Flow.

With these attributes, Flow seeks to be more decentralized, secure and usable than older blockchains like Ethereum. Flow aims to bring the benefits of decentralization to mainstream users.

Flow Tokenomics

The native token of the Flow blockchain is FLOW. It has a maximum supply of 1.3 billion tokens.

FLOW is used for:

• Staking – Validators stake FLOW to operate consensus nodes on the network.
• Transaction fees – Small amounts of FLOW are used to pay for transactions.
• Governance – FLOW holders can participate in governance of the blockchain.
• Rewards – FLOW incentives encourage ecosystem growth.

At launch, around 65% of the total supply was distributed to investors, nodes, foundations and the Dapper Labs team. The remaining 35% will be rewarded through staking and other programs.

FLOW uses a Proof-of-Stake consensus model. This allows high scalability and keeps the network secure. Validators stake substantial FLOW in order to operate consensus nodes.

Flow Use Cases

Some key uses for Flow blockchain include:

• NFTs – Non-fungible tokens representing digital assets like collectibles, art, tickets.
• Crypto Games – Blockchain-based games with true ownership of assets.
• Social Tokens – Community tokens with governance abilities.
• DeFi – Open financial services enabling lending, trading, investments.

Dapper Labs aims to onboard the next 100 million consumers to blockchain through user-friendly experiences. Flow could enable the full lifecycle for consumer blockchain apps: from creation to scaled usage.

Future Outlook for Flow

As blockchain technology matures, platforms like Flow aim to deliver the decentralized future envisioned by many blockchain pioneers. With an improved user experience and developer environment, Flow seeks mainstream adoption.

Upcoming milestones for Flow include deployment of upgradeable smart contracts, increased network decentralization, and major applications launching on the blockchain.

Crypto-gaming still appears the biggest near-term driver of Flow adoption. Dapper Labs plans to release NBA Top Shot on Flow, porting over its hit basketball highlights NFT game. This could significantly grow the Flow ecosystem.

While still early stage, Flow looks well-positioned to capture the future growth of decentralized apps, NFTs, crypto games and other blockchain use cases needing scale. The intuitive nature of Flow could allow consumers and developers alike to tap into the potential of blockchain like never before.

Conclusion

Flow offers a major evolution in blockchain technology. With a focus on usability and scalability, Flow could expand decentralized apps to mainstream audiences. Its developer-friendly environment enables the consumer applications of the future: games, social platforms, digital assets and more. Backed by proven success with CryptoKitties and domain expertise from Dapper Labs, Flow represents an ambitious next-generation blockchain for the decentralized world being built today.