Class e Power †FLOW): what is the current price?
Here’s Flow’s live course.
The Flow Blockchain threw a few days ago a $725 million fund to finance the development of the network and the projects that comprise it. The fund, called Flow Ecosystem Fund, consists of several entities, including a16z or Dapper Ventures.
Concerning the working, each entity that is part of the fund will have the power to decide whether or not a project will receive part of the funding. For Mik Naayem, founder of Dapper Labs, it’s about decentralizing funding. † It is a pool of resources dedicated to the Flow ecosystem, with each investor deploying their support individually.” he explained.
While the price of the native blockchain cryptocurrency Flow Currently at around $2.83, it has the potential to hit $7 by mid-2022, according to several analysts†
The essentials to know Flow
Creation of crypto FLOW
Brave Labs has developed Flow with the aim of providing solutions for NFTs and decentralized gaming applications. Dapper Labs created Crypto Kitties on Ethereum, the game that started the NFT revolution.
However, the popularity of Crypto Kitties had led to congestion on the Ethereum network leading to higher transaction fees. So Dapper Labs chose to solve the problem by creating a more scalable blockchain.
This is how the Flow blockchain was created.
How does the Flow †
Flow uses a proof-of-stake consensus process, where validators must stake a certain number of FLOW tokens to join the network.
But Flow’s innovation lies in the fact that they distribute the validation tasks for different types of nodes: consensus, authentication, execution, access, and collection. Which makes it unique among blockchains.
According to Dapper, the division of tasks between nodes makes transaction processing more efficient than competing blockchains.
- Flow Mirror Mag Overall rating: 8/10
Crypto Kitties will soon be migrated to the Flow blockchain, and with the meteoric rise of NBA Top Shot and the arrival of other NFT developers, Flow could become one of the most desirable blockchains for such projects.
FLOW remains quite volatile at this point, with bearish moves being more pronounced than bullish swings.
FLOW is near the launch price of about $6. This is a unique opportunity to buy it as if you participated in the ICO. The drop could continue down to $4 before a rebound higher.
Flow’s blockchain powers some very popular NFT DApps and the NFT industry is still in its infancy. The $40 price is a first long-term goal.
Dapper Labs also has other top partners to boost the FLOW project: Ultimate Fighting Championship (UFC), CNN, Samsung, Ubisoft and Warner Music Group, among others. FLOW is therefore a cryptocurrency with great potential.
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