The Flow blockchain will combine Defi and NFTs in order to provide next-gen crypto gaming as the blockchain technology is seen as the next revolutionary technology that will disrupt all major industries as we are reading more in the latest blockchain news.
The problems pertaining to high transaction fees and scaling prevent mainstream adoption from happening. Most of the scaling solutions divert challenges back to the developers or will put decentralization itself at risk. However, one blockchain is fast, secure and it is ready to support the next generation of crypto games, digital tokens, dapps, and much more. The Flow blockchain, created by Dapper Labs, the creators of CryptoKitties, was built in the past two years to ensure that the project becomes a future proof for the upcoming generations and to boost adoption by being user friendly.
Today we unveil Flow: a fast, efficient, and developer-friendly blockchain built for consumer audiences and entertainment applications.
— Dapper Labs (@dapperlabs) September 12, 2019
Unlike traditional blockchains that force the nods into storing the entire state of the network and process all of the transactions in the chain, Flow’s multi-node architecture enables blazing performance at low costs without having to sacrifice decentralization. Even ethereum is using sharding but at the expense of the core proposition and parity with the shared states on the blockchain. Sharidng also introduces attack vectors due to the delay added by different shards that interact with each other.
1/ Introducing Flow – the blockchain for open worlds.https://t.co/65iR7ANOkp
— Flow Blockchain (@flow_blockchain) September 12, 2019
The extreme dependency on the primary blockchain only makes it harder for the developers. The higher the usage, the higher the transaction fees. The Rising gas fees on ETH resulted in the users avoiding transactions in order not to include transaction costs. It now costs about $25 in ETH gas fees to send $100 in stablecoins that are issued on the blockchain. The latest Defi explosion and crypto tokens built on ETH, made the scaling issues stick out even more which could be the reason for the underlying pullback in the ETH coin.
Flow takes a novel distribution approach and the balanced token design which combines the best aspects of Defi with the most needed highly scalable four-node architecture and the commitment for uncompromising decentralization. This way developers can focus on experience and users can enjoy lower transactional costs. The Flow token also enables participation on the platform where the users can earn rewards. The token demand is driven by the platform activity like other Defi tokens and also allows for other tokens to be minted such as NFTs and governance tokens.
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