Following the success of CryptoKitties, the developers x.com/dapperlabs” target=”_blank” rel=”noopener”>Elegant laboratories I knew that for Web3 games to grow, an alternative to ethereum was needed – enter Flow.
Flow was ethereum's first major competitor in games, apps, and experiences, and has powered many of the most popular blockchain applications to date.
Even though ethereum Layer-2 blockchains took off and competing Layer-1 chains gained ground, Flow is still at the top of the industry, but what makes Flow stand out and how is it still the chain to beat?
Here is our complete guide to the Flow blockchain in 2024.
What is flow?
Created by Dapper Labs, the team behind CryptoKitties, Flow is a Layer 1 blockchain designed to support high-traffic digital games, experiences, and collectibles.
The popularity of CryptoKitties hit ethereum's speed, reliability, and user fees hard, so Dapper Labs created Flow, a modern blockchain that could handle the demands of its popular blockchain game.
Flow is powered by the $FLOW token, a native cryptocurrency that participates in transactions, staking, and network governance.
In addition to CryptoKitties, Flow is home to some of the best blockchain-based games, apps, and platforms, including officially licensed titles like x.com/NBATopShot” target=”_blank” rel=”noopener”>Best shot in the NBA, x.com/NFLALLDAY” target=”_blank” rel=”noopener”>NFL all dayand x.com/UFCStrike” target=”_blank” rel=”noopener”>UFC strike.
While many of these are internal products, Flow has plenty of documentation for third-party developers and has partnered with third-party teams to create an entire ecosystem of Flow-based apps, tools, and platforms.
Flow claims to be the “home of Web3 for the consumer,” and its partnerships, products, and growth make that a legitimate claim.
How does Flow work?
Dapper Labs thinks of Flow not as a workaround, but as a better solution.
Flow uses a unique multi-function architecture. Instead of dividing the network into fragments, Flow divides transaction processing into four specialized roles:
- Collection nodes: manage transaction data
- Consensus nodes: order, validate and sequence transactions
- Execution nodes: process transactions
- Check nodes: keep the network synchronized and secure
This allows Flow to process a large number of transactions quickly, reliably, and securely, and has proven to be effective, keeping the blockchain developer-friendly and performing robustly.
As a proof-of-stake (PoS) network, users can run a node or delegate their $FLOW holdings to existing nodes to earn rewards. While many of Flow's leading products come directly from Dapper Labs, blockchain governance is becoming increasingly decentralized with decision-making falling to token holders.
For developers, Flow uses a unique programming language called Cadence, which is optimized for digital assets and smart contracts. It offers a variety of tools and documentation to simplify the creation of Flow, with the hope that Flow will be the home of leading Web3 applications.
The history of flow
The idea for Flow came about following the success of CryptoKitties in 2017. The Flow mainnet launched in 2020, and it wasn't long before the chain exploded in popularity.
NBA Top Shot attracted widespread attention in 2021, being the first major Web3 app to do so. This popularity led to short-lived partnerships with instagram and facebook in 2022, and the launch of NFL All Day, UFC Strike, and many more officially licensed products.
In recent years, Flow has faced increased competition from Ronin, Base, and Avalanche, although no blockchain has yet to match its overall success.
Not everything has been a bed of roses. In June 2024, Dapper Labs reached a $4 million settlement with the holders of NBA Top Shot over a lawsuit alleging that Top Shot collectibles are securities, and it is still unclear what impact this could have on others. Officially licensed Flow titles.
However, Flow continues to gain popularity, and its recent Crescendo update, which brought full EVM support, is just the latest of many successes for the Flow ecosystem as a whole.
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