What is Flow (FLOW)? Everything you need to know about FLOW Coin
In this article, we would like to introduce FLOW - a foundation for games, apps and digital assets. We'll be covering the following topics:
- What is FLOW? What are FLOW’s features?
- FLOW Tokenomic and how to earn, store FLOW coins?
- Roadmap & Updates.
- Team members, Investors, and partners.
What is FLOW?
Flow is a developer-friendly blockchain serving as a foundation for games, apps, and the digital assets that power them. Consumers on Flow are able to control their own data, create new kinds of digital assets sellable on open markets.
How does Flow work?
In traditional blockchains, every node will take charge of the entire state and perform all the work associated with every transaction in the chain. Unlike those blockchains, Flow separates the jobs between validators into 4 different roles: Collection, Consensus, Execution, and Verification.
Every validator still participates in every transaction on Flow however, they only specialize in their specific jobs. This means a variety of people with different computational and financial abilities can participate as a validator for Flow:
- Collector Nodes increase efficiency.
- Execution Nodes enable speed and scale.
- Verifier Nodes guarantee correctness.
- Consensus Nodes ensure decentralization.
Why is FLOW unique?
Multi-role architecture: Flow’s design does not apply sharding technology but split roles between nodes and validators instead. The design allows Flow to have the same fast finality and scalability.
Resource-oriented programming and Developer Ergonomics: Smart contracts on Flow are written in Cadence, an easier and safer programming language for crypto-assets and apps. Flow also introduces upgradeable smart contracts and built-in logging support for developers.
What is FLOW coin?
FLOW is the native currency for apps, games, and smart contracts built on top of the Flow blockchain. Its specific use cases will be seen below.
Detailed information about FLOW coin
FLOW Price Today
In the future, users can check FLOW price on Coin98 Markets via: https://markets.coin98.com/
Coin98 Markets is a price-tracking website for crypto assets in the rapidly growing cryptocurrency space. More specifically, you can view the detailed information of a Token Metric from any project, as well as access the home page or the community page of a project, or filter the coins/tokens by Market Cap, Trading Volume, etc…
Key Metrics FLOW
- Token name: FLOW.
- Ticker: FLOW.
- Blockchain: Flow.
- Token Standard: ERC-20 (Fungible tokens), ERC-721 (NFTs - Non-fungible tokens).
- Contract: Updating...
- Token use cases: Utility, Governance.
- Number of nodes: 372 Nodes.
- Number of delegators: 15349 Delegators.
- Average Block Time: 2.91s.
- Block Height: 19,014,632.
- Staking Ratio: 66.01%.
- Circulating Supply 306,893,775.00 FLOW.
- Total Supply 1,378,211,739 FLOW.
FLOW Token Allocation
FLOW Token Release Schedule
FLOW Token Sale
Public sale: Flow raised $18M across both the community sale and auction running from Sept 21st to Oct 2nd, 2020. The return since the sale is 135.1x.
Private sale: Dapper Labs closed approximately $24.6M in funding with the participation of the world’s top experts in crypto and entertainment including a16z crypto, Union Square Ventures, Coinbase Ventures, Samsung NEXT, Fenbushi Digital, Accomplice, Venrock, Blockchange, Distributed Global, BlockTower, Valor Capital, and Warner Music Group, as well as leading figures in sports, music, and gaming.
FLOW Token Use Cases
FLOW coin is the fundamental native asset of the FLOW ecosystem and its functionality includes:
- Rewards: FLOW holders can earn rewards by staking FLOW as a security deposit to secure the network through validators.
- Transaction fees for transactions on Flow blockchain.
- Deposit for data storage.
- Collateral for secondary tokens.
- Participation in governance.
How to store FLOW Coins
Users can use Blocto or Ledger to store FLOW. Detailed instructions can be found here.
In the future, you can store, send, receive FLOW coins on Coin98 Wallet with a few single steps. The guides on how to make transactions with FLOW on Coin98 Wallet will be updated soon.
How to buy FLOW Coins
The guides on how to use Coin98 Exchange to swap other tokens for FLOW coin will be updated soon. Besides Coin98 Exchange, investors can purchase FLOW on Binance, Okex, Huobi, etc.
See Also: What is Coin98 Exchange? How to use Coin98 Exchange
Roadmap & Updates
Accomplishments:
- January 2020 - Flow MVP.
- May 2020 - Beta Mainnet v0.1.
- September 2020 - Token Generation Event: The FLOW coin is minted and held by Dapper Labs pending distribution to pre-launch investors and a Community Sale on CoinList.
Other than accomplishments the team had in the past, there have been no further details about future plans. Stay tuned with Coin98 Insight for further updates in the future.
Is FLOW a good investment?
To participate in Flow blockchain and its ecosystem, users will need FLOW as the gas fees. Therefore, the more projects built on Flow, the higher price of Flow will probably be.
FLOW is having solely one DEX up to the moment of writing - BloctoSwap. BloctoSwap is running its beta version and has averagely $1M in volume per day. The volume mainly comes from FLOW and Blocto Tokens and it is still very small.
However, BloctoSwap backers include leading VCs such as Alameda Research, Amonica, CMS, AppWork, etc so for sure the project will receive giant support in the long run. DEXes play an important role in any ecosystem. They will flourish as well as boost up the whole ecosystem and vice versa.
Lending/ Borrowing projects on the Flow ecosystem include Flowty - A Flow blockchain-based, peer-to-peer (P2P) lending platform and NFTfi - The marketplace for NFT collateralized loans. None of them have been launched yet so it is very exciting and suspenseful to wait for those projects to start working.
Flow is ranked at the 4th position by Market Capitalization, following Tezos and Theta which are also blockchain platforms. On its Medium, the team also confirmed that the biggest brands in the world such as the NFL, UFC, La Liga, Genies, Dr. Seuss, Turner, and many more are all ready to launch their own blockchain-enabled experiences on Flow - which will trigger some network effects for the blockchain. Hang tight with Coin98 Insight and let’s see how network effects are going to be!!!
Team, Investors, and Partners
Team
Roham Gharegozlou: CEO at Dapper Labs, the company behind CryptoKitties, NBA Top Shot, and the Flow blockchain. Roham was the former CEO at Axiom Zen, an award-winning venture studio based in Vancouver, BC (Canada); creators of ZenHub, Routific, Timeline, and more.
Dieter Shirley: the Co-creator of CryptoKitties and the CTO and Lead Architect of Dapper Labs
Mikhael Naayem: Chief Business Officer and Co-founder at Dapper Labs
Investors
Strategic partners
Similar projects
WAX (WAXP): A purpose-built blockchain that is designed to make e-commerce transactions faster, simpler and safer for every party involved.
Summary
This article has included the most critical and detailed information on the FLOW coin. Please leave any questions you have below, and we will get back to you as soon as we can!
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