What is Flow? Basic knowledge of Flow coin

• What is Flow?
• Basic knowledge of Flow token
• Conclude

What is Flow?

Flow concept

What is Flow? It is a smart contract platform based on a new architecture that allows for fast, cheap and developer-friendly transaction processing. It solves the problem of scalability helping to bring about huge improvements in transaction speed. At the same time, Flow is the first Blockchain application to reach general users in the fields of online games, volleyball, etc., which are loved by all users. 

Flow is built by the Team that developed CryptoKitties. Initially, Flow aimed at Dapps Games or Collectibles - applications focused on creating a virtual world for users to interact and collect items on it.

Flow . project development team

Flow is developed by experienced members who have worked on extremely successful game-related projects such as Crypto Kitties, Dapper Wallet, NBA TopShot. Some of the core members include Chief Executive Officer Roham Gharegozlou, Co-Founder and CTO Dieter Dete Shirley and Chief Business Officer Mikhael Naayem.

The Flow project development team.

Partners and investors

Major partners of the Flow Coin project include global brands such as Cryptokitties, NBA, UBISOFT, etc.

In October 2020, the Flow Blockchain ecosystem added the support of OpenSea - the world's first and largest NFT items exchange today for users who own digital goods, including Collectibles, gaming toys, digital art, and other digital assets are supported on blockchains such as Ethereum. OpenSea offers over 12 million digital items and a monthly trading volume of 10k ETH. 

Most recently Genies has started running on Flow Blockchain. Genies is a company founded with the desire to bring celebrities closer to their fans through digital avatars. Thanks to the collaborations of celebrities such as Shawn Mendes, J.Lo, Offset, Rihanna, DJ Khaled, Justin Bieber, Cardi B…Genies are gradually bringing personalized avatar design into the mainstream. in today's decentralized applications.

Flow investors are also quite impressed with typical names such as Coinbase Ventures, Samsung Next, SVAngel, etc.

The development process of the Flow . project

In May 2018, after the explosion of Crypto Kitties – the first game application built on the Ethereum Blockchain platform, the idea of ​​Flow was conceived by Dapper Labs team and started the research and development process with the cooperation help from mentors at Stanford, A16Z,…

In May 2019, Flow started to build the Whitepaper and used the Python programming language in the system formation process.

In April 2020, Flow has a relatively complete operating system.

In May 2020, the project launched Beta Mainet.

In June 2020, the project continued to launch the NBA Top Shot version on Beta.

In October 2020, Flow officially had its own Blockchain, created its own token and started running the Community Sale program on Coin List.

Flow . feature

Cadence 

The Flow project uses a new programming language called Cadence to write smart contracts. Cadence is a new high-level programming language that helps developers ensure that their code is safe, clean, and accessible. At the same time, the Cadence feature also helps the system to easily verify what state the user's code is in.

Cadence programming language.

Flow Playground

This feature makes it possible for developers to write Code programs in Cadence's language and create their own technology assets.

Flow Playground feature.

JavaScript SDK

With the JavaScript SDK feature, you can connect to Flow's Blockchain easily and securely. The SDK toolkit has the ability to quickly integrate with platforms, operating systems, and technical stacks. When doing multiple transactions at the same time, the SDK helps speed up the whole process.

JavaScript SDK Features.

Go SDK 

You can use the Go SDK to create applications that can interact with the Flow Blockchain with full blockchain functionality.

Go SDK feature.

Flow CLI 

The Flow CLI feature includes a number of commands to interact with the Flow network such as querying account information, sending transactions, etc.

Flow CLI feature.

Flow Simulator

This is a tool that simulates the real operations of Flow. This feature is tied to the Flow CLI to perform tasks that provide utilities on the Flow platform.

Flow Simulator.

VS Code Extensions 

Provides additional code checking and completion features.

Expand VS Code.

Flow Port

Portal in the decentralized world of Flow. From here, you can access your account and interact with the Blockchain Flow blockchain, manage assets, and perform a number of other tasks.

Flow Port feature.

VIV3

The first common market on Flow. With the VIV3 feature, users can trade and own the world's most valuable NFTs, empowering artists and creators.

Features VIV3.

Features VIV3. Pros and cons of Flow

Advantage 

The idea of ​​an ecosystem is a strong point of Flow. In particular, the project does not just stop at the idea level but actually has developers building applications on it.

Security programming language, solving problems related to security errors and attacks from hackers.

Backed by quality and reputable investors such as Coinbase Ventures, A16Z Crypto, Samsung Next, Andreessen.

Defect

For Staking, users need to own a relatively large number of Flow coins to run a Node.

There are relatively few exchanges that support trading with Flow and most recently, this cryptocurrency was listed on Binance.

What you need to know about Flow token

Basic information about Flow token

• Price: 12.89 USD (price at the time of writing on 10/06/2021).
• Market capitalization: 640 million USD.
• Total supply: 1.34 billion.
• CoinMarketCap ranking position: 109.

Functions of Flow . cryptocurrency

Flow cryptocurrency is a Native coin in this ecosystem. The main functions of Flow coin are:

Staking : Flow is used as a reward for Staking participants.

Governance : Flow coin holders can participate in voting & contribute ideas to build the network

Transaction Fee : Flow is used as a transaction fee on the Flow Blockchain (like ETH as a transaction fee on Ethereum).

Currency : Used as currency in Flow's ecosystem.

Flow token allocation

FLOW tokens are allocated as follows:

• Ecosystem Reserve: Used to sponsor, award prizes, etc. Currently, Ecosystem Reserve is expected to be locked for 12 months or used as collateral and not put into circulation.
• Dapper Labs: Pays monthly for 5 years.
• Pre-Launch Backers: Lock for one year and pay monthly for 12 months thereafter.
• Team: Lock for one year, pay monthly for 3 years after that.
• Future Sales:
  • Community Distribution Sale: lock for one year and pay monthly for 12 months thereafter.
  • Dutch Auction: Lock for 1 year and pay off in 1 time.

Allocate Flow tokens.

Flow Token Basic Guide

How to own Flow token

Currently, there are 3 ways to own Flow tokens:

• Investors can buy directly on exchanges that support trading with Flow coin.
• Become Validators to earn Flow coins as rewards for running on system Nodes.
• Become Platform Contributors to receive Flow coins when participating in Build Flow.

How to store Flow tokens

• Flow coin can only be stored on Dapper Wallet

Exchange supports trading with Flow token

• As shared above, currently on the market there are only a few exchanges that support Flow coin trading, such as: Binance, Huobi Global , Kraken and Hoo.

Conclude

Flow has helped developers build safe, fast, and efficient new applications and protocols. Flow also has many new features that help solve the complexity of decentralized systems, allowing many decentralized application developers to use Flow's Blockchain to serve their needs in a fairly comprehensive way. Hopefully the above article has helped readers have an overview of the Flow project as well as the Flow coin cryptocurrency.

• American Football League releases NFT collection on Flow