Following the success of CryptoKitties, developer Dapper Labs realized that an alternative to Ethereum was needed for the growth of Web3 gaming. So we’re into Flow.
Flow was the first major competitor to Ethereum when it came to games, apps, and experiences, and has powered many of the most mainstream blockchain apps to date.
Despite the proliferation of Ethereum’s Layer 2 blockchain and the growing momentum of competing Layer 1 chains, Flow remains at the top of the industry. But what makes Flow stand out? And why is Flow still a winning chain?
Here is a complete guide to the Flow blockchain in 2024.
What is flow?
Created by Dapper Labs, the team behind CryptoKitties, Flow is a layer 1 blockchain designed to support high-traffic games, experiences, and digital collectibles.
The popularity of CryptoKitties has taken a huge toll on Ethereum’s speed, reliability, and user fees, so Dapper Labs built Flow, a modern blockchain that can handle the demands of popular blockchain games.
Flow leverages the $FLOW token, a native cryptocurrency involved in transactions, staking, and network governance.
In addition to CryptoKitties, Flow is home to some of the top blockchain-based games, apps, and platforms, including officially licensed titles such as NBA Top Shot, NFL All Day, and UFC Strike.
Although many of these are in-house products, Flow has extensive documentation for external developers and partners with third-party teams to create a complete ecosystem of apps, tools, and platforms built on top of Flow. I’m doing it.
Flow claims to be the “home of consumer Web3,” and given its partnerships, products, and growth, that’s a fair claim.
How does flow work?
Dapper Labs sees Flow not as an alternative solution, but as a better solution.
Flow utilizes a unique multi-role architecture. Instead of dividing the network into shards, Flow divides transaction processing into four specialized roles.
Collection Node: Manages transaction data Consensus Node: Orders, validates, and orders transactions Execution Node: Processes transactions Validation Node: Keeps the network synchronized and secure
This enables Flow to process large numbers of transactions quickly, reliably, and securely, proving the effectiveness of blockchain in making it developer-friendly and maintaining strong performance.
As a Proof-of-Stake (PoS) network, users can earn rewards by running nodes or delegating their $FLOW holdings to existing nodes. While many of Flow’s core products come directly from Dapper Labs, blockchain governance is increasingly decentralized, with decision-making left to token holders.
For developers, Flow uses a proprietary programming language called Cadence, which is optimized for digital assets and smart contracts. With the hope that Flow will become the home of mainstream Web3 apps, we provide a variety of tools and documentation to make building with Flow easy.
history of flow
The idea for Flow was born following the success of CryptoKitties in 2017. Flow’s mainnet was launched in 2020, and it didn’t take long for the chain to explode in popularity.
NBA Top Shot was the first major Web3 app to gain traction in 2021. This popularity led to short-lived partnerships with Instagram and Facebook in 2022, and the launch of officially licensed products such as NFL All Day, UFC Strike, and many others.
In recent years, Flow has faced increasing competition from Ronin, Base, and Avalanche, but no blockchain has yet matched its mainstream success.
Not everything was smooth sailing. In June 2024, Dapper Labs reached a $4 million settlement with NBA Top Shot owners over a lawsuit alleging that Top Shot collectibles were securities, but this was not the case for other officially licensed titles on Flow. It remains unclear what impact this may have on
Despite this, Flow continues to grow in popularity. And the recent Crescendo update that brought full EVM support is just the latest of many successes across the Flow ecosystem.
