Cryptocurrency is a whole different world altogether. It’s an industry that keeps introducing new technological advancements and products at a rapid pace. However, technology faces several crucial issues to date. For example, one thing common in the early blockchains was the issue of scalability, which caused disruptions in the operations of popular dApps and blockchain games, such as CryptoKitties.
This is precisely where Flow cryptocurrency steps in! Let’s dig deeper to learn more about this innovative blockchain that keeps making the headlines.
What is Flow crypto?
Flow Coin is a cryptocurrency that resolves the scalability issues associated with other blockchain networks. In fact, it’s known to be one of the fastest decentralized networks that act as a base protocol for blockchain-based games, applications, and digital assets. The unique aspect that distinguishes Flow from others is its ability to provide scaling solutions that enhance the user experience.
Furthermore, Flow powers some of the top NFT projects, such as the NBA top shot. Flow has even established collaborations with game developers, including Animoca brands and entertainment companies, such as La Liga, UFC, NFL, and Warner Music.
Let’s take a closer look at what makes this blockchain popular among the masses.
What is Flow blockchain?
Flow blockchain is a decentralized network launched in 2020. The ecosystem uses a proof-of-stake consensus system and has its native cryptocurrency, which trades under the symbol FLOW. The consensus system of Flow achieves scalability without sharding – a process that splits data horizontally to distribute the load.
But then, whatโs the underlying mechanism of Flow blockchain? The network deploys a multi-node, multi-role architecture, splitting the total work across multiple nodes. These nodes are assigned different validation roles which are based on their technical capabilities. There are four different validation stages in Flow, including:
- Collection: These nodes streamline the processes and improve network connectivity.
- Consensus: Nodes deal with the presence and order of transactions.
- Execution: These nodes perform the processes of each transaction.
- Verification: The verification nodes double-check the work of execution nodes.
Let’s now talk about the minds who created such an innovative blockchain ecosystem.
Who created the Flow blockchain?
Dapper Labs launched the Flow blockchain in 2020. The same team created the revolutionary game on Ethereum, i.e., CryptoKitties – a blockchain-based game that allows the trading of digital cats. The idea behind Flow was simple: to create a fast, scalable blockchain that processes transactions at low costs.
Back then, Ethereum wasn’t able to handle the influx of users who were using CryptoKitties. There were scalability issues, and the game operations weren’t smooth, leading to poor user experience. Therefore, Dapper Labs created Flow – a new fast blockchain that will enhance the performance of blockchain games and dApps. While Flow achieves higher throughput and speed, it’s also environmentally friendly since it eliminates the use of sharding.
Another unique aspect of Flow is that it provides learning resources for developers to create dApps with ease. Plus, developers can release applications in beta form and upgrade them whenever the users encounter an issue.
FLOW vs. Polygon
Flow and Polygon have a similar objective to resolve scalability issues associated with blockchains, especially Ethereum. However, the nature, use cases, and scope of these cryptocurrencies differ.
Polygon uses a separate Ethereum-compatible blockchain to cut transaction costs, increase speed, and solve scalability issues. Once the transactions are processed, Polygon returns them to the Ethereum network. During the entire cycle, Polygon processes up to 65,000 transactions per second, with each costing no more than a cent.
In contrast, Flow is a different developer-friendly blockchain that supports the development of NFTs, digital assets, and games requiring an excellent user experience. While Flow is an ecosystem facilitating the creation of blockchain games and NFTs, Polygon develops a separate chain to process Ethereum transactions at a low cost. Similarly, Flow has a native cryptocurrency with the same name, while Polygon has a native token called Matic.
FLOW vs. Solana
Flow and Solana are both blockchain networks that power NFTs, dApps, and blockchain games. The purpose of Flow is to enhance speed and scalability without using sharding techniques, making it suitable for crypto games and NFT collections. Solana, however, functions similarly to Ethereum, but it processes transactions at a much faster rate. Furthermore, Solana even facilitates cross-chain operations, allowing users to transfer fungible and non-fungible tokens and coins. The native cryptocurrency powering Solana is SOL, while FLOW tokens power the Flow network.
Where can I buy Flow crypto?
FLOW tokens are used for almost any activity on the Flow network. You may require them to create an account, store assets, or even for staking rewards. The common marketplaces to purchase Flow crypto include Binance, Coinbase, Kraken, Sushi, Bybit, and Huobi.
How to buy Flow crypto
It’s quite straightforward to purchase Flow crypto. Here’s how you can purchase FLOW coins from Bybit exchange:
Step 1: Setup Your Bybit account
First, you must sign up and create your Bybit account to access it from the desktop. Enter the simple personal and banking details to register and verify the account. You can also download Bybit application from the App or play store to access Bybit on mobile phones.
Coin-Labs signed an agreement in 2021 to become the official business partner of Bybit.
Therefore, when you sign up for Bybit through the Coin-Labs website, you will be able to experience Korea’s top commission benefits and also become eligible to participate in an event to receive up to $600 in bonuses.
Step 2: Enter the desired amount
Click the Buy crypto button on your desktop/mobile. This will take you to a new page, where you can select the Bybit express option from the drop-down menu. After this, enter the number of stablecoins, such as USDT, you want to purchase via your fiat currency.
Step 3: Complete the KYC process
Proceed with the payment option after selecting the preferred payment channel. Now, there will be a KYC process that you must complete for authentication purposes.
Step 4: Purchase Flow from spot exchange
Now, the stablecoins would have probably landed in your account. Now, go to the Bybit Spot/derivatives page and purchase FLOW tokens. Finally, the mission is accomplished!
You can either use the Flow currency for staking purposes or use it to access applications on the Flow network.
How to buy Flow crypto in the USA?
Bybit is an excellent cryptocurrency exchange, but unfortunately, it isn’t available in the US. So, what are the options for US citizens? Well, Coinbase can be a good exchange. Best of all, you can purchase Flow crypto directly with your fiat currency.
First, you must set up your coinbase account and then select Flow crypto from the asset lists. Enter the amount of FLOW tokens you want to purchase and there it is; all done!
Is Flow a Good Investment?
As far as the future outlooks are concerned, Flow looks like a promising investment. The recent massive declines in Flow price can be concerning, but it should be noted that the impact was felt across the entire crypto market. Furthermore, the developers and team behind Flow are working round the clock to perfect the system and improve user experience.
For example, Flow recently announced that its mainnet spork would be released soon. It’s expected that the spork will increase the scale of Flow to petabytes of data. Moreover, the team is also upgrading node software, which will unlock new use cases.
Such developments will, of course, increase Flow’s acceptance in the crypto community, which will boost its market price. Furthermore, the predictions for 2023 are quite mixed, with some analysts expecting it to reach a max of $1.51, while some believe it could drop to a low of $0.058.
Nevertheless, as per coinmarketcap, here are the tokenomics of Flow crypto as of today:
- Market capitalization: $1,210,995,000
- Full diluted MCAP: $1,637,670,000
- Maximum Supply:1,410,062,299
- Circulating supply: 1,036,200,000
- Market price: $1.17
Flow crypto Price Prediction (2025-2030)
Most analysts believe that the Flow price will rise in 2025. Their assumptions are based on various factors, such as future collaborations, security upgrades, relaxation in rules and crypto bans, and overall cryptocurrency acceptance across the globe. As a result, analysts are off the view that the price may hit a max ceiling of $3.90 by 2025, with the lowest being $3.2.
However, Flow crypto has been quite volatile in the past. For example, it touched a peak of $46 in April 2021 and then came crashing down to $1.17 after a series of market slumps. Therefore, investors should consider the market sentiments and the overall volatility before investing.
Nonetheless, here are the price predictions for the years 2025-2030:
| Year | Minimum | Average | Maximum |
|---|---|---|---|
| 2025 | $3.21-3.26 | $3.32-3.37 | $3.85-3.90 |
| 2026 | $4.5-4.6 | $4.69-4.71 | $5.7-5.8 |
| 2027 | $6.41-6.51 | $6.7-7.0 | $7.96-7.99 |
| 2028 | $9.4-9.5 | $9.8-10.1 | $11.1-11.4 |
| 2029 | $13.6-14 | $14.2-14.6 | $16.5-16.7 |
| 2030 | $19.1-20.6 | $19.7-21.2 | $23.7-23.9 |
Is Flow crypto safe?
From a security perspective, Flow can be very safe. Firstly, the multi-node, multi-task validation architecture isn’t only efficient, but it’s also secure since the data is distributed among multiple nodes. Secondly, the team has developed a new cryptographic technique called Specialized Proof of Confidential Knowledge (SPoCKs) – a tool where provers can store confidential knowledge which can’t be copied.
From an investment standpoint, it’s not safe. You see, the prices are just predictions, and no one can guarantee what will happen in this volatile sector.
Final comments!
The groundbreaking interface of Flow and its emphasis on user experience and environment-friendliness makes it one of the popular cryptocurrencies in the blockchain space. While these price predictions can provide information, you cannot completely rely on them for long-term decision-making. The crypto market is volatile, and Flow price changes in line with the market fluctuations. In such scenarios, the best bet is to conduct due diligence before investing in the token.
We Coin-Labs provides only objective information about Flow Coin.
Therefore, we are not responsible for the investment decision in Flow Coin and the resulting loss.
Flow Coin Basics
Here are some factors that investors should consider before investing in Flow Coin.
| Cryptocurrency Features | Flow Coin (FLOW) |
|---|---|
| Publisher or Developers | Dapper Labs |
| Headquarters (Registration Number) | USA |
| Symbol | FLOW |
| Platform | |
| Published Date (CMC Registration) | 2021-01-27 |
| Max Supply | No limit |
Reliability Score of Flow Coin in 2023
These are indexes mesuring the investment reliability of Flow Coin conducted by Coin-Labs.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | 7.8 / 10.0 CAR |
| Communication Rate | 5.6 / 10.0 CR |
| Technology Transparency Rate | 7.7 / 10.0 TTR |
| Development Participation Rate | 8.4 / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 8 Exchanges |
| Number of Available Pairs Worldwide | 123 Pairs |
| Market Cap of the Cryptocurrency | 1,345,218,846,299 KRW (Rank #53) |
The table above shows the result of investment suitability evaluation for Flow Coin.
More descriptions about the rating items can be found here.
Flow Coin Price
Here are the price and recent trading volume of Flow Coin. (Data of 2023-04-01 19:43:26)
| Price Items | Price and Trading Volume of Flow Coin |
|---|---|
| Flow Coin Price | 1,298.223 KRW |
| Price Change 24h | 4.01% |
| Price Change 7d | 2.72% |
| Trading Volume 24h | 34,860,830,506 KRW |
| Trading Volume Change 24h | 27.75% |
Cryptocurrency Metadata
You can check the development status and social media information of Flow Coin through the links in the table below.
| Metadata Source | URL |
|---|---|
| ๐ Official Website | https://flow.com |
| ๐ White Paper | https://www.onflow.org/technical-paper/ |
| ๐ฐ๏ธ Source Code (GitHub) | https://github.com/onflow |
| ๐ฆ Twitter | https://twitter.com/flow_blockchain |
| ๐ค Reddit | |
| ๐บ Message Board | https://medium.com/dapperlabs |
Where to Buy Flow Coin
Here are the top ten world crypto exchanges where traders can buy Flow Coin in 2023.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Listed | https://www.binance.com/en/trade/FLOW_USDT |
| Coinbase | Listed | https://pro.coinbase.com/trade/FLOW-USD |
| Kraken | Listed | https://trade.kraken.com/charts/KRAKEN:FLOW-USD |
| KuCoin | Listed | https://www.kucoin.com/trade/FLOW-USDT |
| Bitfinex | Not listed | |
| OKX | Listed | https://www.okx.com/trade-spot/flow-usdt |
| Huobi | Listed | https://www.huobi.com/en-us/exchange/flow_usdt |
| Bitstamp | Not listed | |
| Bybit | Listed | https://www.bybit.com/en-US/trade/spot/FLOW/USDT |
| Gate.io | Listed | https://www.gate.io/trade/flow_usdt |
Frequently Asked Questions
What is the current price of Flow Coin?
Flow Coin price today is 1,298.223 KRW. Furthermore, the price of Flow Coin has fluctuated by 4.01% from 24 hours ago, and by 2.72% from a week ago.
Where is Flow Coin listed?
Currently, it is listed on a total of 8 among the world top 10 exchanges.
What is the market cap of Flow Coin now?
Currently, Flow Coin has a market cap of 1,345,218,846,299 KRW, which is ranking 53 among cryptocurrencies worldwide.
How much is the trade volume of Flow Coin?
Currently, 1,036,200,000 FLOW coins are circulating through 123 market pairs. As a result, in the last 24 hours, 34,860,830,506 KRW of FLOW coins were traded in the market.
