What is Flow? Everything you need to know about FLOW

FLOW Coin is currently the main cryptocurrency of Flow, a smart contract platform developed on a new architecture. Therefore, allowing the platform to provide maximum support for Dapps Games, collectibles, and applications that interact with them.

If you want to learn more about FLOW Coin, why not try following upcoming content from AZCoin?

What is Flow?

Flow is a smart contract platform developed based on new modern architecture from Dapper Labs
Flow is a smart contract platform developed based on new modern architecture from Dapper Labs

Flow is a smart contract platform developed based on new modern architecture from Dapper Labs. If you don’t know Dapper Labs, these are the people behind the success of game projects like CryptoKitties, Dapper Wallet, NBA TopShot, etc.

Flow was born with the biggest goal of supporting the field of Dapps Games, collectibles, and applications that interact with them. Accordingly, this platform has significantly improved transaction processing speed and is significantly more friendly to developers.

Besides, if you have time, we would like to suggest you check out other interesting content such as Bitget Token, Jupiter, Fetch.ai, etc.

How does Flow work?

Flow operates on a multi-layer architecture that optimizes performance and increases security
Flow operates on a multi-layer architecture that optimizes performance and increases security

Flow operates on a multi-layer architecture that optimizes performance and increases security with the following four main components:

  • Collection Layer: The layer collects transactions and packages them into blocks, which enhances network connectivity and data availability for Dapps.
  • Consensus Layer: The layer that determines how blocks are added to the blockchain thereby determining the presence and order of transactions.
  • Execution Layer: The layer that executes the transactions in the block and the computation associated with each transaction performed.
  • Verification Layer: The layer that verifies the results of transactions as well as the working process of previous layers.

Information about Flow’s development team, investors, and partners

Flow is a platform developed by Dapper Labs
Flow is a platform developed by Dapper Labs

Development team

As mentioned before, Flow is a platform developed by Dapper Labs, the people behind the success of game projects like CryptoKitties, Dapper Wallet, NBA TopShot, etc.

The most prominent names are Roham Gharegozlou, Dieter Shirley, and Mikhael Naayem, who co-founded this platform.

Investors and partners

The Flow platform has investors who are all extremely famous and typical names such as Coinbase Ventures, SamsungNext, etc.

On the partner side, Flow also has cooperation with many major global brands such as Cryptokitties, NBA, UBISOFT, etc.

What is a FLOW Coin?

Let learn about FLOW Coin
Let learn about FLOW Coin

FLOW Coin is currently the official cryptocurrency developed and used for many different tasks belonging to the Flow platform.

Specifications

  • Token name: FLOW
  • Ticker: FLOW
  • Blockchain: Flow Blockchain
  • Token type: Utility, governance
  • Total Supply: 1.250.000.000 FLOW
  • Circulating Supply: 23.301.002 FLOW

Allocation rate

Currently, FLOW is being allocated according to the following ratio:

  • Ecosystem Reserves: 29%
  • Dapper Labs: 20%
  • Pre-Launch Backers: 20%
  • Team: 18%
  • Future Sale: 13%

FLOW Use Cases

FLOW Coin in the ecosystem is used for the following tasks:

  • Used as a reward for those who stake tokens.
  • Participate in voting on important changes in the Flow ecosystem
  • Payment of execution fees for transactions on the platform.
  • Payment for platform services.

Where to trade FLOW?

To exchange FLOW, the best crypto exchanges we can recommend to you are Huobi Global, Kraken, Coinlist, etc. On the other hand, you can also own FLOW in many ways, such as:

  • Become backers of the project and receive FLOW as a reward.
  • Become a Validator and receive FLOW as a reward when running on system nodes.
  • Become Platform Contributors and receive FLOW as a reward for helping build the platform.

How should FLOW be stored?

To store FLOW most safely and optimally, currently, you can only store it in Dapper Wallet because this currency has relatively special standards.

Conclusion

Here is all the most general and easy-to-understand content that we can talk about together about the Flow platform and FLOW Coin. If you have any other questions, don’t hesitate to contact AZcoin.

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