• Flow is a blockchain network developed to enable fast and cost-efficient transactions.
• It was initially developed by Dapper Labs to meet their own game development needs and was later launched publicly.
• Flow has been showing some substantial growth in terms of its price action and has been gaining traction in the crypto space due to its utility-first approach.
Flow is a blockchain network that has been gaining traction in the crypto space due to its utility-first approach. Developed and designed by Dapper Labs, Flow enables fast and cost-efficient transactions that are suitable for a wide range of applications. The network was initially created to meet the needs of Dapper Labs‘ game developers and was later released to the public to support other decentralized applications. Flow has been showing some impressive growth in terms of its price action and is proving to be a strong contender in the call for better and more value-oriented cryptocurrencies.
The network was first launched in 2018 with NBA Top Shot, a blockchain-based basketball cards collection marketplace, and according to data by Flow, there have been more than 20 million NBA Top Shot transactions worth over $1 billion processed as of May 2022. Flow has been able to gain a lot of traction due to its ability to meet the needs of developers, allowing them to create and deploy decentralized applications easily. Additionally, the platform is also able to process transactions faster than its competitors and offers lower cost as a result of its utility-first approach.
One of the main reasons why Flow has been able to stand out amongst the crypto giants such as Ethereum is its ability to support a wide range of applications and its scalability. This has been made possible due to its architecture which is designed to support thousands of transactions per second and offers a low cost when compared to other blockchains. Additionally, the platform also offers a wide range of tools and services that allow developers to quickly build, deploy and manage their applications.
Looking at the future of Flow, it is clear that the platform has a lot of potential. With its utility-first approach, scalability and low transaction costs, it is likely that Flow will continue to gain traction in the coming years. Furthermore, it is also likely that the price of Flow will continue to increase as more developers and users adopt the platform. As such, Flow has all the right reasons to be in the limelight these days and investors should definitely consider adding it to their portfolios.