This article is a complete guide on Flow coin(FLOW). In the last 30 days, the FLOW coin price has increased by almost +17%. NFTs, or non-fungible tokens, are displaying enormous growth. There are many attractive NFT projects. Let’s take a look at What is FLOW coin and is it a good investment?
FLOW Coin: What is Flow Blockchain?
According to its website, the FLOW is the native token (“FLOW”) of the Flow network. The network describes itself as a new blockchain that is created for the next generation of apps, games, and the digital assets that support them. Flow is powered by Dapper Labs. The Dapper Labs is the same company that created the famous CryptoKitties. The purpose of the FLOW blockchain is to be fast, secure, and developer-friendly.
The Flow platform allows developers to build and trade a non-fungible token (NFT). Flow is based on a unique architecture that realizes the performance needed for applications without jeopardizing decentralization or sharding. It also describes itself as a layer-one blockchain. One of the most notable things about this project is that it was created by a team that has given some amazing projects like CryptoKitties, Dapper Wallet, NBA Top Shot.
FLOW Coin: What is the FLOW token?
As mentioned earlier, the FLOW is the native token (“FLOW”) of the Flow network. All the transactions in the Flow blockchain need the FLOW currency. The token is also utilized by validators, programmers, and users to engage in the FLOW network and get rewards. It is also utilized for expenses and to aid in planned protocol administration. According to FLOW is designed as a payment method as well as a long-term reserve asset for the entire Flow economy. The token is used by validators, developers, and users to participate in the FLOW network and earn rewards. It is also used for fees and to participate in future protocol governance.
At the time of writing this, the Flow coin price was sitting at USD 34.80. The 24-hour trading volume was USD 139,731,512. The circulating supply of FLOW coin is 33,967,817 whereas the maximum supply is 1,344,157,523.
How Does Flow Work?
Flow blockchain has a multi-node and multi-role architecture. The following are some of the key features of the Flow network.
- As mentioned earlier, it has a multi-role architecture. In this, it is scaled to help billions of users without sharding or degrading the decentralization of consensus.
- It comes with resource-oriented programming. For instance, smart contracts on Flow are written in Cadence. The Cadence is a straightforward and secure programming language for crypto-assets and apps.
- It is intended for those who want to create helpful products for the community.