What is cryptocurrency Flow (FLOW)

Flow is one of the latest additions to the cryptocurrency market and a rather prominent project whose market capitalization hit $1 billion a matter of weeks after the token launched. Flow is a fast and scalable blockchain and was created and developed by the same dev team that created the popular Ethereum-based blockchain game CryptoKitties.

Interested in Flow (FLOW), but not sure what it’s all about or where to even begin? No worries. This guide is designed to teach you everything you need to know about the project and get you ready to jump into the most user-friendly trading experience available on the market.

Flow is a blockchain-based decentralized ecosystem and platform with scaling solutions for interactive experiences, decentralized application projects, and blockchain-based games. The Flow network focuses on providing a scalable environment and architecture for fast transactions without congestion, to create an environment for non-fungible tokens, dApps, and games. NFTs can be created and traded as well as other cryptocurrencies, while the crucial difference is that every NFT is unique and has a different price, which is why NFTs are known as collectibles.

Flow has its own project on the network, NBA Top Shot, and as the NFT market is booming, Flow could experience rising popularity as well. Flow offers upgradable smart contracts that can be patched to fix any bugs, a finality that is achieved in seconds, and an easy way to build dApps and create NFTs with Flow’s easy-to-learn programming language, Cadence.

Flow resolves problems with scalability seen on the Ethereum platform without the use of sharding, instead of employing the efficient Proof of Stake protocol. That is how Flow enables the smooth running of operations and minimizes congestion on the network for dApps and blockchain games such as CryptoKitties.

How Does Flow Work?

Flow uses the Proof of Stake protocol to achieve scalability without the use of sharding, which is a common scaling technique for increasing speed and network capacity. Flow distributes the work on the network across the nodes that support the system, with different nodes assigned different tasks based on their technical capabilities. An increased blockchain throughput is achieved by separating non-deterministic processes (e.g. forming transactions into a block) from deterministic ones (e.g. executing that block of transactions).

In order to reduce redundant effort, Flow uses a multi-role, multi-node architecture. To make the scaling of the entire network possible in an efficient and cost-effective way, Flow breaks down the validation process into four roles, distributing different tasks to different types of nodes. To increase efficiency, the nodes split tasks and participate in the validation of every transaction on the network. The four types of nodes are Collection Nodes, Consensus Nodes, Execution Nodes, and Verification Nodes.

Who Are the Founders of Flow? (History of Flow)

The Flow project was founded by Dapper Labs, which is the same team that is responsible for developing one of the most popular dApps and blockchain games hosted on Ethereum, CryptoKitties. CryptoKitties experienced huge popularity and still continues to attract blockchain enthusiasts and fans of blockchain-based collectibles. 

With the increasing number of users, Ethereum proved to have issues with scalability, so CryptoKitties faced problems with operations, which is why the Dapper Labs team decided to create a scalable blockchain platform that would represent a highly functional environment for dApps and games such as CryptoKitties – Flow.

Flow launched in 2020 as a Proof of Stake protocol that allows developers to create, use, and trade NFTs, as well as to develop dApps and blockchain-based games on the platform. The founder of Flow is also the CTO of Dapper Labs, Dieter Shirley.

What Gives Flow Value?

Developers can create their own applications on the Flow network, which gives the project its intrinsic value, determined by its technical capacity and technology. Developers can incorporate FLOW tokens into their applications and games, where FLOW can act as the main currency for payments and rewards. Developers can also use the Flow network to create their own tokens that can be used within their applications and can likewise be traded as NFTs.

Flow market value is affected by a multitude of specific factors that can cause the price of FLOW to change. Some of these factors are utility, the popularity of the NFT market, upgrades, developments, institutional interest, and other important news and events. The intrinsic value, which often doesn’t match the market price, is determined by the spectrum of technology, technical capacity, functionality, and use cases. The market price of Flow is subject to frequent changes in value due to the high volatility of the cryptocurrency market.

What Makes Flow Unique?

Flow network makes for a unique project that offers a highly scalable environment for developers interested in creating and using NFTs, which have experienced a rise in popularity in recent times. Flow’s architecture allows developers to build applications and cryptocurrency games on the platform without issues such as congestion.

Flow distributes the data and work on the network across different nodes, separated by their roles, so that the distribution enables scaling and an efficient ecosystem for blockchain developers. Flow might be a unique opportunity for investors who believe in the potential of NFTs and blockchain applications. Thanks to the efficient architecture, Flow enables fast finality for transactions and on-chain operations. 

so in this dashboard I want to analyze the landscape of the flow as you see I choose upper block to this dashboard.

as you in this block most of the transaction related to the blocto and just low of the transaction related to the cbridge, and as you see difference between them is more than 10 time.

so for the better conclusion I want to check this action in the daily graph and see the detail of that.

so lets continue.

in the upper I check the percentage of them in the PIE graph and we see that most of the transaction related to the blocto and as you see this number was over 90 percent.

and in this part I want to check the detail of them.

as you see in this part cbridge start to the action after 14 Jul and you see that after this date performance of the cbridge was near to the blocto and you see that in some day reaction of the cbridge was more than blocto and it shows that cbridges performance may increase by the time.

and I want to not that before 14 Jul cbridge had transaction but this transaction was low than average.

and as you see before 14 Jul flows market was in the occupation of the blocto.

after this part I want to analyze the user number of the wallets.

in this part I want to analyze the user number of the wallets,

as you know user number has relation with the transaction number in the most of the time, and as you see in this part again we see this action in the upper graph.

as you see after 14 Jul most of the user number in the cbridge start to include to the flow and you know from previous part that after this date transaction number of the bridge started to increase and we see this action in this part again.

so we see that like most of the blockchain by the increasing of the transaction number user number increase and opposed.

so lets analyze the trader number in the NFT part.

lets start.

in this part I want to speak about the trader number and see the detail.

as you see trader of the blocto from the first of the started to the decrease and after 14 Jul got stable and in this date cbridge started to the shine.

so in this part we see that by the increasing the trader of the cbridge, trader of the blocto decrease and it show that performance of the blocto by include of the cbridge decrease. and it may that cbridge get replace of the blocto by the time.

in the final step I want to analyze the amount of the wallet.

so as a final step we see that most of the amount was related to the blocto but as you know after 7 Apr when cbridge include to the graph, improve its performance and we see that after 14 Apr in the most of the date had the same amount as blocto.

so in this part we see that amount of the wallet is related to the user and transaction number.

so in this part we see that transaction number, amount of the wallet and user number increase at the same time and all of this are related to each other.

after this part lets finish the dashboard.

conclusion

in this dashboard I analyze the landscape of the wallet and the result are look like lower text.

• most of the transaction is related to the blocto. (over 90 % of the transaction)
• from the first of the year up to 14 Jul most of the transaction was in the occupation of the blocto, but after this date cbridge started to improve and in some day transaction of the cbridge was more than blocto.
• user number of the wallet was like transaction number, by the increasing the tranaction number user number increase.
• in the trader part we see that by the include of the cbridge, performance of the blocto decrease.
• amount of the wallet was related to the transaction and user number, both of the increase and decrease at the same time.
• as a total conclusion we see that after 14 Apr cbridges performance increase in the all of the parts.

thank you because of your attention.