FLOW is meant to be the ideal cryptocurrency for NFTs, consumer applications, play to earn games, and other digital assets. It is developed to have low monetary inflation, and if that work - it can make Flow great for Web3 applications.
A Bit About Flow
This is a low-inflation cryptocurrency that was founded by Dapper Labs, the team behind the CryptoKitties game. It is interesting to note that this game almost crashed the Ethereum network. The cryptocurrency is native to the Flow blockchain and is used to fund various decentralized apps, games, and digital assets. The network is focused on environmental friendliness and uses the Proof of Stake system of validating transactions. Minting an NFT on the network releases less carbon than making a post on social media.
Flow is powering the next generation of play to earn games and digital assets.CryptoLists.com
When using the Flow network, you will have to pay for services using the FLOW cryptocurrency. For example, you will need to pay processing fees and computation fees when using the network. You can also purchase storage on the network by holding a certain balance of the altcoin in a locked deposit.
Utility of Flow?
This token is meant to be used by individuals and groups that are interested in creating or using Web3 applications. The design of the network ensures that users have a great experience with the apps. It is worth noting that transactions made on this network are very cheap, and this is another factor that has influenced people to buy the token.
Flow Price detailsFLOW Contract address: A.1654653399040a61
›› Details & Tokenomics
›› FLOW tokenomics and social media
Advantages of Flow+ It offers very low transaction fees.
+ Flow works on a scalable blockchain.
+ It uses the proof of stake system.
+ Flow is backed by notable brands such as La Liga, NBA and Binance.
+ Flow offers fast transactions.
Disadvantages- The price of Flow can be volatile, like most cryptocurrencies.
- You may still need to pay transaction fees for failed payments.
- It is not regulated by government bodies.
- It isn’t available on many crypto exchanges.
Costs▪ Rated at 10/10
This token was designed to have very low transaction fees. Whenever you make a transaction with the token, you will have to pay two different fees, and these are the transaction fees and account creation fees. The transaction fee is 0.00001 Flow while the account creation fee is 0.001 Flow.
Reputation and Buzz▪ Reputation rated at 9/10
▪ Buzz rated at 10/10
This altcoin has generated a lot of buzz online, given that it is backed by a strong group. It is also worth noting that the cryptocurrency and network have both attracted the attention of major corporate brands, and this has helped to add legitimacy to the platform. Overall, the project is seen as useful and promising. Also, the team behind it is considered professional and highly talented.
What sets Flow apart from other cryptocurrencies?
This altcoin offers quick transactions and uses the proof of stake method of verifying transactions. It is also used on the Flow blockchain, which has been noted to be great for developers. Many very popular
Which blockchain does this altcoin use?
This is the native cryptocurrency of the Flow blockchain.
Does this Flow charge transaction fees?
Yes, it has two different charges for transactions. The first one starts at 0.001 Flow, and the second one starts at 0.00001 Flow.
Is Flow cryptocurrency legitimate?
Yes, this cryptocurrency is legitimate. You can visit its official website to learn how it works. Also, make a point of going through its technical paper.