Do you know Flow?
Generally, when we make the decision to get involved in the world of cryptocurrencies, we do it thinking of them as a way to increase our money, leaving behind the analysis of the projects and their technological contribution to society. In this sense, many people get carried away by the opportunity of the moment, assuming that the project they bet on will generate income forever because it is very popular, some famous person is talking about it and therefore it has the favor of the media, but seeing its technical constitution offers signs that its good moment will be ephemeral.
But not all projects should be considered as a kind of empty boxes designed to attract money, exiieresantes in the world of cryptocurrencies, many of them lack the media support that other platforms receive but equally they are making their way through the universe of names covered by the support of their own community or the prestige of its developers (case of Hive and its ecosystem), recognize the stability of such ideas and its long-term projection is what generates success in this world from the economic point of view.
Considering the above, today it is time to analyze a little-known project that is presented as an interesting concept in the world of cryptocurrencies, I am referring to Flow (FLOW), a blockchain whose purpose is to serve as a platform for the gaming sector and other applications, providing a high-speed platform and a very friendly architecture for developers.
Flow is part of the tokens that make life in the Ethereum network, from the hand of the company Dapper Labs, creators of the world famous CryptoKitties (the Dapp of kittens). Flow began its history in 2018 in Vancouver, Canada, with the purpose of offering a platform capable of overcoming the weaknesses of what Ethereum presents as well as overcoming its shortcomings, even with those present in the Ethereum 2.0 update.
In August 2019 Flow launched to the world the first round of private sale of FLOW tokens, offering the amount of 112 million FLOW tokens, with a price of just 0.1 $ per unit, which generated a collection of more than 11.2 million dollars that were used for the implementation of this project. Given the success of the initial launch, Dapper Labs initiated the next step which was the presentation of Flow's white paper and the creation of its software to initiate what was expressed in the public document.
In August 2020, one year after the first private sale, another private sale was held, this time 134 million FLOW were offered to the world at a price of $0.1 per unit which raised a total of $13.4 million. With these new funds, Dapper Labs proceeded to start financing the development of the system, which is currently in beta phase. On the other hand, in the same year, Flow's managers generated another sale of 60 million tokens, but this time to the members of their community, raising 8.5 million dollars, a situation they took advantage of to show the world that they have a community that believes in their project.
Despite the support it is necessary to say that Flow is still a project in development stage, considering that its Layer 1, or main layer is still under construction, however this fact does not affect the operation of the project nor its capacity to support all types of Dapps in its network or to generate transactions in its platform and even Non Fungible Tokens (NFT).
In terms of operation, Flow developers have created a system in which they can work according to several tasks, which are performed by their own nodes, each of them with a specific pattern. In this way the system divides the incoming roles (the incoming transactions) so that the tasks in the platform are executed more easily. As an example, if a transaction communicates with a smart contract as a dApp, it will be divided into two parts: one, where the transaction metadata is located (who sends, the addresses in the system, and other effects); the other part interacts with the smart contract, which will be called to execute and establish quick responses to users through the use of the blockchain. On the other hand the verification process is designed to meet the concensus rules, a methodology that makes it linear, so its functions are performed faster than in Ethereum itself.
At the present Flow presents a market capitalization of $582,170,179 million, which places it in the 107th position on the list. Likewise, its price at the time of this publication reached 0.0003289 BTC ($13.25). The total amount of tokens is 1,344,157,523 all already premined, with barely 3% of these in circulation.
As always, it is necessary to warn that this publication is not intended to establish a form of advice or recommendation to invest in this project, it is only intended to serve as information to the community about this project.
