How Flow Became the Driving Force for the Development of the Blockchain World


Hong Kong, China -- (ReleaseWire) -- 07/28/2021 --Ethereum is a decentralized computing platform, similar to a computer operating system, anyone can build decentralized applications on it. Ethereum is known as the second-generation blockchain. In addition to electronic payments and financial transactions, it also provides a higher degree of programmability. Ethereum and Bitcoin are both similar and different. In some aspects it can perform the same function, but in other aspects it is completely different. For example, Ethereum provides developers with more freedom, allowing them to use their own code to create more decentralized applications ( DApps).

The emergence of Ethereum is to improve many of the deficiencies of Bitcoin. However, due to the richer functions and applications of Ethereum, as long as more developers develop smart contracts on Ethereum, the Ethereum ecosystem will become larger and larger. The value becomes more prominent. If Ethereum is just a distributed computing platform on which programs can be run, it is not enough to make it a "blockchain 2.0". The real killer of Ethereum is that it has the function of smart contracts. What is a smart contract? Simply understand, a smart contract is a contract that can be executed automatically.

Although Ethereum does have great potential, it cannot conceal its limitations. Ethereum's current network has limited processing capacity, which can only process 35 transactions per second. Due to the distributed nature of the network, this problem is difficult to solve. Secondly, Ethereum and other PoW (Proof of Work) cryptocurrencies are resource-intensive. In other words, in order to maintain the normal operation of the Ethereum network, mining must be carried out, which requires a lot of energy.

The congestion of the Ethereum network directly exposed some design deficiencies: high handling fees, low performance, and difficulty in carrying large-scale applications. The biggest feature of commercial applications is the ability to interact. Taking the current commonly used liquidity mining as an example, it needs to go through the steps of exchange, adding liquidity, pledge of LP, and mining. Just these steps may cost hundreds of dollars. If a game runs on the Ethereum network, the interaction cost is much higher. Compared with Ethereum, the new generation of games, applications, and the digital asset platform that powers them, Flow, uses vertical decomposition of transactions to achieve specialization and pipeline operation of transaction processing; while Ethereum's sharding is horizontal Decomposition is mainly classified according to the type of transaction, the amount of money, and the degree of importance, and different transactions are processed on different blockchains (layers). The core results achieved by the FLOW solution are speed and throughput improvement, cost reduction, and usability improvement, creating attractive phenomenon products for mainstream user markets outside the encrypted world, and the underlying platform that supports these products.

As a decentralized network, anyone can join and build on Flow. Flow is made by the creators of some of the most popular applications on existing encrypted networks. Flow makes building new applications and protocols safer, faster and more efficient. To be precise, Flow is a fast, decentralized and developer-friendly blockchain designed to power the next generation of applications, games, and digital assets.

At the same time, Flow is also a blockchain designed from the ground up for mainstream adoption, and is the only blockchain that incorporates usability improvements into the protocol layer. This means that developers on Flow can build secure and composable applications, thereby providing new possibilities for consumers around the world. At present, top developers and some world-class brands such as NBA, UFC, Ubisoft, Warner Music Group and Dr. Suuss have built on the basis of Flow, and realized new experiences through top-level content, and also gave birth to independent developers and leading institutions and other infrastructure partners.

FLOW is a native token that powers all activities on the Flow network. It is designed as a payment method and a long-term reserve asset for the entire Flow economy. Flow token is a low-currency and low-volume asset for validators, developers, and users to participate in the FLOW network and get rewards. It is also used to transfer fees, act as collateral for auxiliary tokens on the Flow chain, and participate in future protocol management. In addition, a small amount of FLOW tokens are required to pay transaction fees, and a minimum remaining balance is required to pay for storage on the network. FLOW is a token that can always be used in applications and games on top of the Flow network.

Some experts believe that Flow's opportunities are mainly in the following three points: pipeline architecture design, allowing Flow to achieve decentralized high performance without fragmentation or with the help of Layer 2; highly commercial applications and developer-friendly, targeting real-world commercial applications Design; There are already certain ecosystems and applications on the chain, including NBA Top Shot and other cooperative applications with large enterprises. Although these three points are where Flow has the most investment value. But it still needs to be explained that the development cycle of the public chain is longer and there are more uncertainties.

The Flow mainnet, the simplification of the Flow Playground platform and more gameplay or innovative game Dapps are all worth looking forward to. Not only staying at the application of CryptoKitties, Flow is also a Dapp platform. As more and more developers develop games on the Flow Chain, and through Flow docking with mainstream market traffic port support, encrypted games will enter more mainstream markets, and the Flow platform that hosts these game products will also become the biggest winner.

Recently, Flow has once again sounded the clarion call for progress, and Flow has been included and launched by the world-renowned exchange ZB. It is believed that in the globalization of blockchain technology, Flow will accelerate its pace of becoming a source of power for the development of blockchain.

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