What is FLOW coin? Learn what FLOW coin is in one minute

FLOW, the native cryptocurrency of the Flow blockchain, empowers developers with high-throughput, scalability, and NFT-centric features for building innovative decentralized applications.

Nov 02, 2024 at 07:19 am

What is FLOW Coin?

1. Overview

FLOW is the native cryptocurrency of the Flow blockchain, a fast and scalable layer-1 network designed for dApps and NFTs. It is a decentralized, open-source blockchain that prioritizes security, usability, and scalability.

2. Features and Benefits

Key features of FLOW include:

• High throughput: Can process thousands of transactions per second.
• Scalability: Uses sharding and parallelization to handle high demand.
• Low transaction fees: Charges a fraction of the cost compared to Ethereum.
• Developer-friendly: Provides tools and libraries to simplify app development.
• NFT support: Focuses on NFTs, offering secure and efficient minting and trading.

3. Use Cases

FLOW is used for:

• Powering dApps on the Flow blockchain
• Paying for transaction fees
• Staking to secure the network and earn rewards
• Participating in governance
• Purchasing and trading NFTs

4. Tokenomics

• Max supply: 1.33 billion FLOW
• Circulating supply: 1.005 billion FLOW
• Token allocation: 12% for network participants, 18% for core contributors, 20% for ecosystem incentives, and 50% for the Foundation.

5. Exchanges

FLOW is available for trading on major cryptocurrency exchanges, including:

• OKX
• Binance
• Coinbase
• FTX (bankrupt)

6. Conclusion

FLOW is a promising cryptocurrency that provides a platform for developers to build highly scalable and user-friendly dApps and NFTs. Its focus on security, low fees, and scalability makes it an attractive option for those looking to venture into the fast-evolving realm of decentralized applications and digital collectibles.