The cryptocurrency market is trying to stabilize after a violent crash across the entire ecosystem. At the end of the week, one of them broke the trend and recorded a 60% increase in 3 days. This is Stream. Launched in 2017, this token native to the blockchain of the same name and dedicated to Web 3.0 applications is now in its heyday. How does Flow crypto work? Can the token continue its upward explosion?
Flow Crypto: The Dapper Labs Blockchain
Flow crypto is a layer 1 blockchain developed by Brave Labs. This company is a juggernaut in the world of NFTs.
In fact she is at the origin of the first successful NFTs launched on Ethereum: CryptoKitties. The latter aroused such enthusiasm that the network suffered from numerous congestion problems. Faced with this difficulty, Dapper Labs has developed a much scalable blockchain that significantly exceeds the performance of Ethereum: they have so Flowa network specifically for Web 3.0 creators.
To achieve the desired result, Dapper Labs built its new network based on a reinvented Proof of Stake consensus that integrates an architecture that revolves around 4 different nodes :
- Collection : these nodes are intended to improve network connectivity and simplify data access for Dapps.
- Conformity: they prioritize transactions.
- Performance : as their name suggests, they carry out trades.
- Verification : these nodes verify the transactions executed by the execution nodes.
Thus, Flow crypto has the ability to adapt to its ambitions Web 3.0 around games, applications and especially digital assets such as NFTs.
The whole of Flow crypto is consolidated through the use of smart contracts programmed in Flow’s native smart contract programming language called Cadence. This facilitates the development of applications that interact with FLOW.
The FLOW is the network’s native token. It does not allow maximum supply. The network ensures that token holders can: spend on Dapps developed on Flow. It is also possible to striker to become a node and get new FLOW tokens in return.
The FLOW token is also a means to management because it grants voting rights and thus enables the development of the network and its ecosystem.
Why is Flow crypto exploding?
We saw the Flow crypto project adopted a certain architecture therefore it is one of the best performing in the NFT market.
This earned him today to be at the front of the podium.
To understand this it is important to look at the activities of meta, former name of the Facebook company and owner of the social network Instagram. The CEO, Mark Zuckerberg, has been investing for several months to Introducing NFTs on Instagram en masse.
Last May, the first conclusive tests were carried out on the social platform. Now Meta and his boss are looking to enter the expansion phase and roll out NFT functionality in more than 100 countries.
To achieve this, Meta announced the integration of Coinbase and Dapper Labs alongside Ethereum and Solana. It means that Flow blockchain NFTs are accessible via Instagram. Although the latter is only an outsider, he benefits from an exceptional promotion.
Don’t forget that the Instagram platform crossed the 2 billion users mark worldwide a few weeks ago!
This new association has therefore increased the price of the token, which has seen its value increase +60% in 3 days. Thus, the token moved from $1.84 to $2.94 and quickly returned to values that had been lost since May last year. Trading volumes have also exploded.
Is it time to invest in Flow blockchain?
A logical question arises: is it temporary or permanent? In other words: should you invest in the Flow token?
From a practical point of view, this adoption of the Flow network by Meta is a huge opportunity for Flow crypto.
Indeed, it gives great visibility to the network. Mechanically this should be attract more and more users. Its qualities allow it to seriously compete with its competitors. So the blockchain should attract many NFT creators. As a result, volumes should also take off to become increasingly important.
It is also the possibility toattract a certain capital flow from investors need action in a market as bleak as the one we find ourselves in.
While Flow crypto is not the leader in the NFT market, the fact remains that the network was created with the aim of providing powerful solutions for Web 3.0.
The network gives a increased scalability compared to its competitors and also benefits from important partners like Warner Music, Ubisoft or even the NBA. Likewise, it already attracts a lotpowerful investors such as Samsung, the founders of Dreamworks and Union Square Ventures, among others.
Today, Flow is trusted by Meta, one of the largest companies in the world. As saying the project is alive and has a bright future in the future of the web.
However, it is important to general context. The market is currently unable to fully capture certain opportunities. The market has been shaken up and the recent decisions by the FED to mitigate the effects of inflation are weighing only on cryptocurrencies.
The FLOW crypto remains very influenced and influenced by the entire market. After reaching his ATH in April 2021 at $46.16, the token continued to fall. It has lost over 90% of its value to trade around $3.12 today.
Caution is therefore advised, even if the project promises to become a major player. This in the more or less near future, or even from the next crypto cycle.
If you are looking for opportunities to invest or trade cryptos, the Crypto Rider training will give you all the keys to understand this exciting market in a serene way.