Flow flow

Flow is a smart contract platform, focusing on creating a fast, decentralised and developer-friendly blockchain. It is designed to scale without sharding and aims to become the foundational layer for a new generation of games, apps and digital assets. 

Flow has 4 distinguishing features relative to existing blockchains: among existing blockchains:

• Multi-role architecture: Instead of every node storing the entire state and processing every transaction in the chain, Flow uses pipelining, allowing validator nodes to only participate in selected stages of validation. This allows them to specialise and increase the efficiency of the process, allowing the network to scale.
• Resource-oriented programming: Flow uses Cadence to create ‘easier and safer programming language for crypto-assets and apps’.
• Developer focus: Developers can utilise upgradeable smart contracts and built-in logging support to the Flow Emulator.
• Consumer on-boarding: Flow was designed for mainstream users, with payment onramps providing a safe and low-friction way to turn fiat to crypto.

The creator of Flow is Dapper Labs (‘Team’), the same entity behind CryptoKitties, NBA Top Shot and Cheeze Wizards.

Flow’s native token is Flow (‘FLOW’). The total supply is 1,344,157,523 and there is no capped supply. The Team has earmarked 350M FLOW for ecosystem development.

FLOW acts as the fuel behind the network and has several use cases: 

• Used for all protocol-level fee payments and transactions
• Rewards
• Staking and delegating
• Submit votes to community polls and other governance-related activities.

FLOW can be acquired via claiming as a backer, by being a validator or contributing as a builder.

At phase 2, the Team minted 1.25B FLOW, all of which are locked for one year. The breakdown of holders at genesis block: Dapper Labs (20%), development team (18%), ecosystem development (29%), community sales (13%), small backers (8.9%) and large backers (11.1%).

Prior to launch, the Team raised ~$24.6M via convertible notes which were converted into FLOW. Tokens set aside to pre-launch backers are subject to the same terms and lock-ups as the community raise. 

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