What Is Flow?
Flow is a dedicated Proof of Stake (PoS) blockchain that supports scalable Non-Fungible Token (NFT) use cases. It allows users to generate and trade digital assets across the Flow network in open markets. Some of its popular applications include NBA Top Shot and CryptoKitties.
Background
Dapper Labs developed a flow blockchain to address the issue of blockchain congestion. It was designed with a focus on games and other interactive experiences. Dapper Labs now uses Flow for all its projects and has extended its utilization to other developers.
How It Works
Flow operates using a unique proof of stake consensus mechanism involving four node types: consensus, verification, execution, and collection. Each node contributes to validating each transaction, making the process more efficient.
Flow also supports upgradeable smart contracts, allowing for enhancements and amendments before they are finalized and made unchangeable. It is an alternative to sharding, maintaining atomic, consistent, isolated, and durable (ACID) transactions, and encouraging collaborative development.
Dapper Labs has partnered with various high-profile brands, including the Ultimate Fighting Championship (UFC), CNN, and Dr. Suess, gadget giant Samsung, game publisher Ubisoft, and Warner Music Group.
Key Takeaways
- Flow is a Proof of Stake (PoS) blockchain explicitly designed for scalable Non-Fungible Token (NFT) use cases, enabling the creation and trading of digital assets.
- Dapper Labs developed the Flow blockchain to address the issue of blockchain congestion, focusing on gaming and interactive experiences.
- Flow uses a unique proof of stake consensus mechanism involving four types of nodes: consensus, verification, execution, and collection, which work together for efficient transaction validation.
- Flow supports upgradeable smart contracts that can be enhanced and amended before finalization, maintaining atomic, consistent, isolated, and durable (ACID) transactions.
- Dapper Labs, the creator of Flow, has formed partnerships with various high-profile brands, including UFC, CNN, Dr. Suess, Samsung, Ubisoft, and Warner Music Group.
