What is Flow?
The Flow platform, which launched in 2020, enables developers to build and exchange non-fungible tokens, a form of digital asset (NFT). An NFT is similar to other crypto currencies in that it can be purchased, traded, and distributed without the need of a middleman over the internet.
There is, nevertheless, one significant distinction. Any commodity on the blockchain is special with an NFT, and it trades for its own price. (An NFT may be thought of as a digital trade card.) Visit Kraken’s “What are Non-Fungible Tokens?” page in our Learn Center for more details on NFTs.
The team behind CryptoKitties is working on a new framework called Flow that will enable these types of applications to reach a wider audience.
How Does Flow Work?
Flow was built from the ground up to serve gaming and consumer apps, with the throughput required to scale to millions of active users. These objectives necessitated a slew of major technological advancements:
- A pipelined infrastructure that distributes jobs that would normally be completed by a single miner or validator through five distinct node styles, minimizing unnecessary effort and increasing performance.
- To solve the Verifier’s Dilemma, Flow developed a modern cryptographic technique called Specialized Proofs of Confidential Knowledge (SPoCKs).
- A single shared state for all smart contracts, providing absolute ACID protections for each transaction. This enables complex connections between smart contracts (known as “Composability”), as well as powerful network effects for apps based on Flow.
What is the History of Flow?
Dapper Labs, the company behind the CryptoKitties blockchain game, created Flow.
The team created Flow as a forum for blockchain-based games and digital collectibles, led by founders Roham Gharegozlou, Dieter Shirley, and Mikhael Naayem.
Dapper Labs, formerly known as Axiom Zen, launched Flow in 2019 after reporting a $11 million investment round led by venture capital firm A16z.
Dapper Labs has received a second round of funding led by NBA stars Andre Iguodala and Spencer Dinwiddie, which would be used to create blockchain-based games on the Flow platform.
How Do I Hold Flow?
Wallets and custodians for FLOW can be found on the FLOW Port.