Flow is a fast, decentralized, developer friendly blockchain designed to empower a new generation of games, applications and digital assets. Based on the unique multi-role architecture, it is designed to be scalable without sharding, which has greatly improved the speed and throughput, while maintaining a developer-friendly environment that conforms to ACID standards.
Flow enables developers to build thriving crypto and encryptible businesses. The application in Flow allows consumers to control their own data. Flow creates new digital assets that can be traded on open markets that can be accessed anywhere in the world and establish an open economy owned by users to help users realize value.
Flow on smart contracts can be assembled like Lego blocks, providing power for applications serving billions of people, from basketball fans to enterprises with mission critical requirements.
How does Flow (FLOW) Work?
Flow is the native token of the protocol and has the following use cases:
Network service payment: all activities need to pay transaction fees in FLOW tokens, including creating new user accounts, storing assets, and interacting with smart contracts.
Deposit for data storage: users need to use the FLOW tokens to reserve the storage capacity on the chain. An account with a high FLOW balance will get more storage capacity, which may be required by some developers or applications.
Verification node: token holders can run the validator node and stake FLOW tokens, which helps protect the network and obtain additional FLOW. Alternatively, users can delegate their tokens to a third-party operator to run the validator node on their behalf.
Collateral for secondary Tokens: key service protocols are encouraged to "inject" their tokens through a joint curve mechanism with native FLOW tokens. The main benefits of injecting tokens include improving liquidity, reducing volatility, using FLOW tokens as collateral, and participating in Flow governance through secondary tokens.
Governance: token holders can participate in online voting through the signaling mechanism. Although the voting results are not binding at present, they are publicly visible and will guide the work of the development team. Initially, FLOW stakeholders will vote to select a representative committee that can make daily decisions.
What is Flow (FLOW) ？
Flow is a blockchain designed from scratch for mainstream adoption, and it is the only blockchain that integrates usability improvement into the protocol layer. Top developers and some world-class brands have been built on the basis of Flow and realized a new experience through top-level content.
In the existing blockchain, there are four pillars that make Flow unique.
Multi-role structure: the design of the Flow chain is very unique, allowing the network to expand without sharding and without reducing the degree of consensus decentralization to serve billions of users.
Resource Oriented programming: the smart contract on the Flow chain is written by Cadence, which is a more convenient and secure programming language for crypto assets and applications.
Developer ergonomics: from scalable smart contracts to built-in logging support to Flow simulators, Flow's network design is result-driven.
Introduction to consumers: Flow chain is designed for mainstream consumers. Its payment Onramps provides a safe and low friction platform for exchanging fiat currency for tokens.
Development trend analysis of Flow (FLOW)
Flow (FLOW) Crypto Wallet
In addition to placing FLOW in the Gate.io exchange to facilitate trading, FLOW can also be placed in the crypto wallet.
Flow wallet is an application that allows access to your Flow account, allows you to send and receive funds, and enables you to interact with Flow applications. You can create a Flow account through the wallet, read address, balance and transaction history, transfer tokens from one account to another, display NFTs and explore NFT collections, use the Flow application for authentication and send transactions, etc.
The wallet is just a tool to manage your Flow account. You can manage your account from different wallets. You can choose different Flow officially approved decentralized wallets, which are fully compatible with FLOW, but each wallet has its own characteristics and supports different functions. For example:
1. Blocko is a hosted online wallet that supports iOS and Android
2. Ledger provides hardware Wallet
3. Dapper Wallet is a hosted Internet wallet
4. Lilico is an unmanaged Internet wallet focusing on NFT
5. Finoa provides institutional level hosted wallets
There are two schools of thought in determining the price of Flow.
By way of intrinsic value: This typically involves on-chain metrics, project metrics and financial metrics of Flow, collectively known as fundamental analysis. The law of supply and demand, tokenomics, use case, project roadmap as well as regulations and governance involved would affect the value of Flow from a long term perspective.
By way of price action: Primarily analyzed via candlestick chart patterns and technical indicators such as MACD, RSI and the bollinger bands, technical analysis forecasts the price of Flow on the basis that history tends to repeat itself. As the candlestick charts are a general representation of the emotion of the market, news announcements and community sentiment can be significant price action drivers for Flow as well.
HODLers tend to prefer the long term nature of fundamental analysis, whereas short term traders tend to rely on technical analysis more. In reality, both analyses may combine and create interesting scenarios for Flow and the cryptocurrency market as a whole.
2. What is the highest price of Flow in history?
Flow achieved the all-time high of $42.40 in 2021-04-05T13:49:10.098Z, and is currently trading at $0.44.
3. What is the lowest price of Flow in history?
In 2023-09-11T19:41:06.528Z, Flow reached the all-time low of $0.39.
4. Should I buy Flow now?
It is important to remember that Flow, like all other cryptocurrencies, are subject to extreme market conditions, legal policies, project team management and other unpredictable factors. As such, cryptocurrencies fluctuate greatly and it is important to manage your own risk level. Users are advised to do your own research when making investment decisions in the crypto market.