What is Flow?
Flow Blockchain Summary
Launch Year
2019
Type
Public Blockchain
Consensus
HotStuff (Variant of Byzantine Fault Tolerance)
Flow stands out in the blockchain space for its unique architecture designed specifically to address mainstream adoption and the scaling demands of NFTs and consumer-facing applications. It employs a multi-node architecture, separating tasks like consensus, validation, and execution across specialized nodes. This separation aims to massively increase throughput without compromising decentralization or security, making it a prime candidate for NFT projects, blockchain gaming, and other applications requiring user-friendly experiences.
Flow staking mechanism and details
Flow offers a multi-tier staking system, catering to users with varying levels of technical expertise and investment amounts:
Details about Flow staking
Consensus Nodes
Require significant resources and technical knowledge, but offer the highest potential rewards.
Collection Nodes
Increase network reliability and data availability.
Execution Nodes
Play a role in transaction processing.
Delegation
Users can delegate their FLOW to existing nodes without having to run their own.
Staking rewards are distributed based on node type, stake amount, and overall network participation.
Blockchain's native cryptocurrency: FLOW
Coin Utility
Used for paying transaction fees, participating in staking, and playing a role in network governance.
Use Cases
FLOW is essential for paying transaction fees, staking, participating in on-chain governance, and rewarding network participants.
Flow plays a significant role in the NFT space, powering popular marketplaces like NBA Top Shot.
Flow Smart Contracts
Flow uses Cadence, a resource-oriented programming language designed for user-friendly and secure development of dApps and NFTs. Cadence aims to minimize common coding errors and enhance safety when handling digital assets. Flow’s focus on mainstream adoption translates to developer resources and tools geared towards accessibility.
Details about Flow smart contracts
Cadence Programming Language
Utilize a resource-oriented programming language designed for blockchain assets and digital collectibles.
Focus on NFTs and Gaming
Optimized for applications that heavily utilize NFTs and in-game economies.
Flow Wallet Options
Blocto Wallet
Designed with a focus on Flow, offering a seamless NFT experience and easy dApp interaction.
Dapper Wallet
Popular among NFT collectors, created by the team behind Flow.
Ledger
A hardware wallet option for maximum security when holding FLOW.
How to Buy Flow (FLOW): Exploring Your Exchange Options
Interested in adding Flow (FLOW) to your crypto portfolio? Several centralized and decentralized exchanges offer ways to acquire FLOW. Here’s a look at some popular options to find the best way to buy Flow that suits your needs.
Best CEXs to Buy FLOW
Binance
Global leader in cryptocurrency exchange with high liquidity and a wide range of FLOW trading pairs.
Kraken
Well-regarded exchange focused on security and a good selection of cryptocurrencies, including FLOW.
KuCoin
Global exchange featuring several trading pairs for FLOW.
HTX (Huobi Global)
Leading exchange with diverse crypto offerings, including FLOW.
Coinbase
Popular and user-friendly exchange widely accessible and offers FLOW trading.
Best DEXs to Buy FLOW
BloctoSwap
Decentralized exchange built specifically for the Flow blockchain with a user-friendly interface.
Emerald City
A rising DEX on the Flow Network with a focus on NFT trading and liquidity pools.
(Please note: DEXs on Flow are still developing, so options may be more limited compared to larger blockchains.)
Important Note: Always research and consider factors such as fees, security, supported fiat currencies, and regional availability before choosing an exchange. It’s recommended to compare multiple options to find the best fit for purchasing FLOW.
How to track Flow assets?
Monitor and capitalize all your Flow assets from multiple sources with auto-synced data about coin prices, NFT floor prices, advanced analytics and custom asset based opportunities.
7 easy steps to track and capitalize all your Flow assets
Open your crypto wallet app or web extension
Select your Flow public wallet address and copy it
Open the Hodlezz mobile app and create a portfolio
Select the settings icon in your portfolio
Select [Add connector] from the menu
Select [Flow] for any Flow compatible address
Choose a name for your connector and insert your public wallet address
Start tracking all your crypto assets now
Experience seamless management of your digital assets with Hodlezz: the premier app for real-time tracking and analytics of your cryptocurrencies and NFTs.