FLOW CHAIN
Intro to Flow Chain
Flow Chain was born out of the need to solve the scalability issues faced by the Ethereum blockchain, which became evident with the popularity of CryptoKitties, a blockchain-based game. The developers behind CryptoKitties created Flow Chain to handle applications like theirs that had become mainstream.
The Creators of Flow Chain
Flow Chain is the brainchild of Dapper Labs, the company behind CryptoKitties. The team, led by founders Roham Gharegozlou, Dieter Shirley, and Mikhael Naayem, developed Flow as a platform for blockchain-based games and digital collectibles. Dapper Labs unveiled Flow in 2019 after raising $11 million in funding led by investor giant A16z.
How Flow Chain Works
Unlike traditional blockchains where nodes store the entire state of the currency’s history and verify all transactions, Flow aims to create many subdivisions of its network. This allows the total work to be split across nodes, with each node only validating a subset of the transactions. Flow employs a multi-node, multi-role architecture, dividing the validation stages of a transaction into four different categories: Collection Nodes, Consensus Nodes, Execution Nodes, and Verification Nodes.
The Role of FLOW Token in the Ecosystem
The FLOW cryptocurrency is key to maintaining and operating the Flow blockchain. Developers can incorporate FLOW in their dapps as the main currency used for payments, transactions, and earning rewards. Users need to own and stake FLOW tokens to become a node and participate in the governance of the platform.
Popular Projects on Flow Chain
NBA Top Shots
NBA Top Shots is a blockchain-based platform that allows fans to buy, sell, and trade officially licensed NBA collectible highlights.
NFL All Day
NFL All Day is another sports-based digital collectible platform built on the Flow blockchain. It offers fans a new way to engage with their favorite NFL moments and players.
UFC
The Ultimate Fighting Championship (UFC) also has a presence on the Flow blockchain, offering fans unique digital collectibles of their favorite fighters and moments.
Doodles 2
Doodles 2 is a highly anticipated NFT project released on the Flow blockchain. It allows users to mint a "base-levelDoodle" and customize it with various traits. The NFTs are dynamic, and the images can be used as full-body or profile pictures.
Flow Chain and Unity SDK 2.0
Flow Chain has recently released the v2.0.0 of the Flow SDK for Unity, a game development platform. This version allows developers to tap into the power of Wallet Connect, a protocol that connects Web3 apps to wallets. It also includes support for iOS, making it an officially supported platform for Unity games.
The Future of Flow Chain
Flow Chain is continuously evolving, with plans to add support for more wallets in addition to Lilico. The team is also working on improving the Flow SDK for Unity, adding new features and more samples to their growing list of examples and tutorials.
The Price of FLOW Token
Flow token is down in price from it's all time highs in previous years. However this could spell out massive potential in the next bull run if Flow continues to onboard large brands, IP and continue to integrate with other engines like Unity. Just this past week Nike dotSwoosh partnered with Fortnite to bring a bridging connection between a collectible platform into a game. We could see further integrations and activations in the macro with games using Unity for example. Flow already has a positive reputation with large brands like NFL, NBA and the UFC.
Short-term and Long-term Expectations for FLOW Token
The future of the FLOW token is promising, with its value expected to rise as more developers and users adopt the Flow blockchain. In the short term, the price may fluctuate due to market volatility. However, in the long term, the token's value could increase as the Flow ecosystem expands and matures.
Conclusion
Flow Chain is a groundbreaking blockchain platform that has successfully addressed the scalability issues faced by many decentralized applications. With popular projects like NBA Top Shots, NFL All Day, UFC, and Doodles 2, Flow is proving to be a game-changer in the world of blockchain-based games and digital collectibles. The future of Flow and its token, FLOW, looks promising, with expectations of growth in both the short and long term.