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Flow: Everything you need to know

Flow

Source: CoinMarketCap

It has been a really long time since the cryptocurrency industry was first introduced and honestly, the industry has had a wonderful journey so far by being able to lure in potential investors from all across the globe and managing to make a name for itself in the global marketplace. Not just that, as mentioned, the industry has had a surge in its overall growth and popularity recently, thus helping it to reach greater heights!

Having said that, I believe a majority of you are already familiar with the basics of the industry and I am sure that you are eagerly waiting for us to start with what we have with us today but, for some of you who are new to this whole thing, it’s best if we have a brief look at the industry first.

To begin with, cryptocurrencies as the name suggest are nothing but a form of online or virtual currencies that can easily be made use of for a variety of purposes including the purchase and sale of goods and services as well as for the purpose of trade and exchange over cryptocurrency exchanges available online.

In other words, crypto is a blockchain-based platform that is known to be decentralized to its very core. Being decentralized, the crypto world becomes more than capable of stepping outside the overall control and jurisdiction of central authorities and can work freely without any unnecessary government interferences as well.

Also, when the industry was first introduced there were not many currencies to choose from and honestly, not many people were looking to be a part of it either as people back then were very skeptical with respect to the return on investments they could expect as well as the safety of their money too.

That is surely not the case anymore as today, we have pools of currencies available for investors to choose from, with newer ones coming in with each passing day and tons of new investors joining in every hour.

flow

Source: Bitcoin News

Speaking of a lot of currencies available today in the marketplace, some of the most popular ones worth investing in includes Bitcoin, Cardano, Baby Doge, Ethereum, Dogecoin, Polkadot, and Binance Coin, PancakeSwap as well as EverGrow Coin to name just a few of course. In addition to this, it feels rather interesting seeing such a rapid growth of the industry over the past couple of years and so, let’s look at some of the major contributing factors responsible for this huge success including portability, high-profit margins, volatility, negligible response time, convince it offers, intuitive nature as well as ease of use of course.

Being volatile, it is important for you to be aware of the fact that, it is not always possible to predict the price changes and act accordingly as the price fluctuations in the crypto marketplace are almost immediate, thus leaving no time to plan. Therefore, whenever dealing in online currencies, keep in mind that, if the industry is providing you with an opportunity to earn huge profits and make quick money, if not done right, you could also end up having significantly huge losses as well.

Not just that, as per the chatter amongst some of the leading experts in the field, it has come to our notice that, crypto is rapidly progressing towards completely revolutionizing the global payment system and from where I stand, it looks like it has already started to do so as many merchants and businesses have started accepting crypto as an official mode of payment from their customers.

Now that you have a brief backstory about the crypto world, you will be able to have a much better understanding of what we have with us today, Flow. To know more, I suggest you read further!

Everything to know about Flow (FLOW)

Flow

Source: Moralis Academy

Flow is nothing but simply a decentralized, fast, and developer-friendly blockchain that is known to be designed as the foundation for a rather new generation of games, applications as well as digital assets that are said to power them.

In other words, Flow is considered to be the only layer-one blockchain originally created by a team that has consistently been delivering amazing consumer blockchain experiences, namely CryptoKitties, NBA Top Shot as well as Dapper Wallet.

Not to mention, Flow is said to be a blockchain that is designed from the scratch for mainstream adoption and is the only blockchain that is known to build usability improvements into the protocol layer. Some of the top developers and global leading brands are already building on Flow, thus enabling entirely new experiences with top tier content of course.

In addition to this, Flow has a rather rich ecosystem that comprises of the top development studios, entertainment brands as well as venture-backed startups, and the platform is also known to partner up with global IP brands like Ubisoft, Warner Music, UFC, and NBA too.

Before moving any further, it is probably worth noting that, FLOW is said to be the native utility token of the FLOW platform, which as a matter of fact can be used for a variety of purposes on the platform itself like being used for by users, validators, and developers in order to participate in the Flow network, being used for fees and lastly to participate in future protocol governance on the platform.

Basically, the FLOW token is known to be the keystone for a rather new, borderless as well as virtual economy. Simply, if the flow is considered to be the digital infrastructure, the FLOW token is the fuel that powers the network. As mentioned, the said token is required for the network as well as for all the applications on top of it to function.

flow

Source: PixelPlex

Coming back to the topic, Flow is a blockchain that is designed for the extensive scaling and that too without the use of sharding techniques, providing low cost and fast transactions that make sense for decentralized applications such as the NFT (non-fungible token) marketplace as well as crypto infused video games.

Furthermore, know that, Flow hails from the popular Dapper Labs, which indeed decided on solving its blockchain congestion problem head-on by building one primed for games and several other interactive experiences. Also, Dapper is now seen using Flow for all its projects including NBA Top Shot but is also open to other developers.

Lastly, though it might have been clear by now if still a few of you are wondering as to what is it that makes Flow unique as and when compared to others in the marketplace? Allow me a chance to explain. To begin with, Flow has a multi-role architecture which makes it one of a kind, thus allowing the network to scale to serve billions of users online without having to reduce decentralization of consensus.

Other than this, the smart contract of some of the platforms is written in Cadence, which is said to be an easy and safe programming language for crypto-based applications and assets. Also, it has great developer ergonomics which means that from Flow emulator to upgradeable smart contracts, the network has been designed for those who want to build valuable products in and for the community. Most importantly, Flow is a platform made for mainstream consumers with payments onramps, thus enabling low friction and a safe path from fiat currencies to crypto.

Now that we have talked much about Flow, some of you must be wondering, whether or not it is a good idea to invest in the platform? If that’s the case, then let’s find out, shall we?

Investing in Flow (FLOW)

flow

Source: Money Under 30

As of today, the price of Flow is about 2.75 US dollars with a twenty-four-hour trading volume of 95,702,519 dollars. Not just that, in just the past twenty-four hours, the value of the Flow has gone down by 6.81 percent, and with the current market cap of 2,853,591,279 US dollars, FLOW is currently placed at the #30 position as per the CoinMarketCap rankings.

Also, it is worth mentioning that, the current circulating supply of the Flow is 1,036,200,000 FLOW coins, but unfortunately the maximum lifetime supply of the currency is not yet available.  In just the past week alone, the price of the platform has fallen by 11.23 percent.

Reading so far, you must have gotten a fair understanding of the platform and by now, you should be able to figure out on your own whether or not investing in Flow is the right thing for you to do. Seeing what it has to offer when combined with its performance in the recent past as well as its plans for the near future, I certainly believe that Flow can prove to be a profitable investment in the near future, which is likely to provide you with higher returns and it is a possibility that your current investment may increase in value. But again, nothing can be said for sure!

Source: Nomics

As mentioned at the very beginning, crypto is a highly volatile marketplace and is extremely uncertain. Thus, It is very important for you to understand the fact that just like any other currency in the crypto marketplace, Flow does have its own risks as well and you should invest only if you are willing to take those risks and bear any and all losses if at all necessary.

If you are wondering, where can you buy Flow? Let me help you with that. Currently, Flow is available on all major crypto exchanges but, some of the popular exchanges that have FLOW listed on them include Binance, Bybit, BTCEX, OKX as well as FTX to name a few.  

In conclusion, what are your thoughts on Flow? Do let us know in the comments area below. To know more about various cryptocurrencies, do check out other articles we have on our website. Thank you for your time & if you found our content informative, do share it with your investor friends!

Also read: Top 10 cryptocurrencies to buy in May 2022

 

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