Cryptocurrencies Review

What is a flow? Blockchain for NFTs


Flow is a Blockchain for items such as NFT collectibles and blockchain based games. On the flow you can turn everything into a unique token; From a work of art to match tickets and diamonds in a game. If you want to know what Flow is, how it works and how you can invest in it, read the rest of this article.

This blockchain, which works with the stock proof method, is made by Dapper Labs. In late 2017, when CryptoKitties slowed down the Ethereum network, Deper Labs considered developing the China Flow block as an alternative. The company now intends to make the China Flow block the preferred platform for future NFT experiences.

Cryptocurrencies, one of the first NFT projects, slowed down the Ethereum blockchain in late 2017 due to overcrowding. It was then that developer Depper Labs realized that the current-generation blockchain was not built to meet such demands.

Instead of just finding another home for this decentralized software or waiting for Ethereum scalability solutions to arrive, Deper Labs decided to create a Blockchain that he and other developers could rely on.

What is a flow?  Blockchain for NFTs
Roham Gharagozlu, CEO of Deper Labs, Flow Development Company

The result of this decision was the China Flow block; Blockchain to support things like NFT collectibles and large-scale blockchain games. On the flow, smart NFTs can be created and managed for computer games and artists.

Roham Gharegozlou, CEO of Deper Labs, says of the platform he has developed:

Cryptocurrencies in Blockchain will showcase the full power of combinability, in-chain storage, and encryption for consumer software. We can add traits, genes, reproductive components, and scalability to third-party developers without compromising collector trust.

Roham, CEO of Deper Labs

Cryptocurrencies will soon migrate to Flow, and with the remarkable success of Deper Labs’ NBA Top Shot and the registration of many other developers to work with Flow as unprecedented tokens flourish, the platform could become one of the most prominent blocks for such a blockchain. Be. Prophets Top Shot is a gaming platform where people can buy and exchange digital cards of American Professional Basketball League players.

Now that you know the general purpose of Flow, let’s take a closer look at this project, how it works and how to buy FLOW tokens.

What is a flow?

Is a Chinese flow block designed for large scalability (fast and cheap transactions) without the use of sharding techniques. This blockchain provides fast, low-cost transactions that make sense for decentralized software such as proxy blockchain markets and blockchain-based video games.

As mentioned, Flow is made by Deper Labs. The company decided to solve its blockchain congestion problem directly by creating another blockchain for games and other interactive experiences. Deper Labs now uses Flow for all of its projects, including Top Shot Prophecy, but it can be used by other developers as well.

How does Flow work?

Flow is divided into four types of nodes (such as validators, such as miners in the Bitcoin network) to achieve significant improvements in speed and operational power, which are:

  • Collector Nodes that increase efficiency.
  • Execution Nodes that enable speed and scalability.
  • Verifier Nodes that guarantee the accuracy of transactions.
  • Consensus Nodes that guarantee decentralization.

This blockchain uses a stock proof model in which creditors must share a certain number of flow tokens to participate in the network.

Also read: What is stock proof?

However, how Flow Validation works is unique among blockchains. The platform divides the validation tasks into four separate ninety types: consensus, verification, implementation, and aggregation. All four nodes participate in the validation of each transaction.

Deper Labs says segregation of duties increases transaction processing efficiency over competing blockchains. This method is an alternative to shredding or scattering the storage and computing needs of a china block across several nodes. Flow does not use sharing, and Depper says it does so by keeping transactions micro, consistent, separate, and durable (ACID – atomic, consistent, isolated, and durable) and allowing developers to synergize.

Flow also offers extensible smart contracts, allowing you to use smart contracts in beta and then upgrade or modify them before finalization and immutability.

What is so special about Flow?

Flow is built for those collectible and interactive blockchain-based experiences that are rapidly gaining popularity and could have a much larger audience in the years to come.

For example, gaming companies can use the China Flow block to turn in-game items into tokens, and players can actually own in-game items and exchange them off-game.

Top Shot prophets are already demonstrating the potential of a blockchain-based collectibles experience to make big money and attract mainstream attention. This is just an experience created in the flow bed and many other experiences are on the way.

Flow, Prophets and Jupiter

Top Shot Prophecy has been a huge success so far, but Deper Labs also has other prominent partners in its pocket. The company has signed contracts with UFC and Dr. Suess to develop collectibles experiences (digital player cards) in the same direction. In addition to these brands, Deper also has partners such as Samsung, gaming giant Ubisoft and Warner Bros.

What is a flow?  Blockchain for NFTs
Flow-related ecosystem

What can be done with Flow?

You can now interact with Flow as a user through TopShot prophets or by purchasing artwork from the VIV3 NFT marketplace as well as other Blockchain software. Developers can experiment with working with Flow and build their own decentralized software using a variety of built-in tools. Blockchain is still in its infancy at the time of writing (early 2021) and has not yet developed a substantial platform.

Where to buy flow tokens?

The FLOW token was first released to the public in October 2020 through the CoinList exchange, but was not available in the United States or Canada. The tokens sold in this initial public offering were locked for at least one year; That is, they can not be in circulation until they are released from the locked state.

But at the time of writing, flow tokens are now tradable in some foreign exchange offices. You can find the list of flow exchanges from This link See.

The best possible process for buying Flow in Iran is as follows:

  1. Buy Bitcoin, Tetra, Ethereum, Litecoin or other digital currencies in Iranian exchange

  2. Transfer purchased currencies to foreign exchange offices supporting Flow and convert them into Flow tokens

At the time of writing, Bainance Exchange, the world’s largest digital currency exchange used by most Iranian users, does not yet support Flow. Therefore, if you use other exchanges, consider increasing the risk of account blocking and blocking. The two exchanges, Houbi and Kraken, are the largest flow exchanges at the time of writing. Many Iranian users have reported in the comments section of the Arzdigital digital website that they have succeeded in buying Flow at the Hobby Exchange, but there is still risk.

Flower wallets

At the time of writing, the China Flow block is in development, and there is no official wallet for the Blockchain tokens. The name of the official Flower Wallet is Dapper Wallet, which is to be introduced on the meetdapper.com website after launching this year.

However, the official website of Flow has announced that you can go through the address port.onflow.org Create a temporary flow wallet for yourself until the network is fully operational.

However, due to concerns about the technical problems of the developing Blockchain, most users at this time (early 2021) still keep their assets on exchange offices, in which case the risk of account closure due to sanctions should not be forgotten.

Flow price

Unprecedented tokens grew dramatically in the late 2020s and early 2021s, and Flow was one of the biggest beneficiaries of this growth. Not only has the TopShots platform been one of the most successful decentralized software platforms, but Flow also saw a significant increase in demand from developers in the first weeks of 2021. Accordingly, the price of flow tokens increased by several hundred percent.

What is a flow?  Blockchain for NFTs
Flow chart general chart; From $ 1.5 to over $ 30 (early 2021)

The interesting thing about TokenFlow is that it has not yet been added to the list of major exchanges such as Bainance and Coin Base. With the completion of the main network, if everything goes well and this token is listed in Bainance, we will probably see a new wave of price increases.

It should not be forgotten that developing projects such as Flow also have risk points, and the main risk comes from technical issues. If the flow fails to deliver on its promises, as well as the NFT’s fever, we may see a sharp drop in prices.

To write this article, from an article Help is available on the Decript website. This article is an analytical / educational article only and should not be construed as an investment proposal.

.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button