Flow (FLOW) is a multi-use blockchain performing transactions faster and cheaper. Once known for only gaming purposes and digital collectibles, it is now expanding into other areas of development. The technology came into action after a well-known trading game collapsed on another well-known blockchain, paving the way for a new and improved blockchain.
Flow has since grown into a successful blockchain, supporting its currency where one can buy FLOW, other FTs (Fungible Tokens), and NFTs (Non-Fungible Tokens), and continuing to improve its presence in the cryptocurrency world.
It aims at delivering scalability and stabilization solutions to applications, gaming, and other digital assets. Flow remains decentralized and evolves with the help of developer-based and focused blockchain enthusiasts.
The main goal of the blockchain is to prevent sharding while continuing to scale at unstoppable levels.
It is a product of Dapper Labs, founded by Roham Gharegozlou, Dete Shirley, and Mikhael Naayem. Since 2020, Flow’s team has expanded to more than 21 team members spread out in two countries, the United States and Canada. Vancouver, Canada, is the start location of Flow.
To this day, Flow has undergone many rounds of funding. The initial round of funding launched the product with a backing of $11 million led by the well-known investor A16z.
Soon later, Flow took on the second round of funds led by famous NBA stars Andre Iguodala and Spencer Dinwiddie to develop the game-based blockchain.
Today, funding totals six rounds with a total amount of more than $725,000,000 raised. The ecosystem of funding will continue to develop the blockchain.
The founders built Flow using the same team behind CryptoKitties. Dapper Labs is well-trusted for its strong partnerships in the crypto world and the financial backing of big investors. The team wants to make users more trusting of the crypto world by including more consumers in blockchain through gaming.
The co-founder and CEO, Roham Gharegozlou, put the blockchain on the map. He was born in Iran but spent his working years in a few different countries before starting his start-up at the age of 14. He also co-founded a hub that develops new platforms and upcoming technologies before launching Dapper Labs.
He is a godfather investor helping more than 15 companies get off the ground and become successful. Roham continues to grow his team today to push FLOW further, expanding to new reaches and conquering new goals.
Flow’s lead architect, Alex Hentschel, worked with the team at CryptoKitties and carried his skills to Flow. Alex and Dete Shirley worked together to build a fitting blockchain with perfect architecture to support billions of game players. With their collaboration, they produced a multi-role architecture while keeping sharding minimal.
If you are familiar with the working ways of a blockchain, then you will understand the fundamentals of Flow. FLOW crypto blockchain uses nodes to store the history of verified currency transactions.
The blockchain aims at using a multi-level architecture to split up the work to process. Each level contains a set number of nodes that will complete the transaction using four stages:
Collection Nodes - Designed to advance network connectivity and make data more available for dapps (decentralized applications).
Consensus Nodes - Helping organize the order of transactions.
Execution Nodes - Compute transactions faster and easier.
Verification Nodes - Double-check and verify the completed computation of execution nodes.
Each stage of nodes increases the task efficiency completed by splitting the work through participation of every transaction.
The Flow Coin is a reliable native currency available to complete transactions between many developers and users. A user sends the coin and receives it using the Flow blockchain to reward work completion in applications, gaming, and smart contracting.
The coin has uses in many gaming applications for peer-to-peer payment processing. The network rewards users and developers with coins for the above actions, as well as for other service-related tasks. You can think of Flow tokens as a source of gas: without gas, the car will not move. Providing Flow tokens will act as an incentive to complete activities over the network.
Flow also provides its users with token rewards by staking their coins as a security deposit which keeps the network valid.
Flow is trying to solve faster transactions while keeping efficiency a crucial factor in the process. Since Flow is a product of Dapper Labs, it uses the past digital trading asset of CryptoKitties as a motivator to improve involvement with blockchain technology.
After CryptoKitties experienced huge hiccups on another blockchain, Dapper labs researched new ways to improve blockchain scalability.
Flow established the blockchain to solve their problems in the gaming world and decentralized actions. Today, Flow aims at supporting millions of users with a faster and more efficient method to support other decentralized applications as they saw reliability in their work.
Flow is unique for many reasons. It is a native coin used for transactions on its blockchain for many utilities, making it more valuable. Today, FLOW tokens provide payment sources for the services provided by:
Middle man of exchange
A great benefit of the Flow network is to serve as a marketplace for digital collectibles and NFTs.
Flow's unique feature is its ability to show network efficiency by dividing the total work performed within the gaming and consumer applications.
Make sure you have an account with Knaken. You can register in the app or at the registration page. Then verify your personal data, and you are ready to buy Flow.
You can select Flow in the app or web portal, choose an amount and immediately make the payment with, for example, a credit card.
Yes, at Knaken you can easily buy Flow with, for example, iDEAL, credit card or Bancontact. Check all options on our fee page.
You can find the current price of Flow at the top of this page.
At Knaken we believe it is important to be as transparent as possible to our customers about the costs that are charged. It is possible to look into the costs for every purchase or sale of Flow.
Take a look at our costs page for more info.
At Knaken, safety comes first. For years we have ensured that you can not only buy crypto securely on our platform, but also store it.
Search for Flow in the app or web portal and select “deposit” in options. Here you will see the deposit address where you can send the crypto. Make sure you deposit Flow from a wallet address that has been verified with Knaken.
Yes, search for Flow in the app or web portal and select the withdrawal button in options. Please note that you can only withdraw Flow to a verified wallet address.