What is Flow (FLOW)?
The Flow network, launched in 2020 by Dapper Labs, is a Layer-1 blockchain purpose-built for consumer-scale applications and NFT projects. Its native asset, FLOW, serves as both the fuel for transactions and the backbone of network security. The project was conceived as a direct response to the scalability bottlenecks experienced during the early days of CryptoKitties.
What purpose does FLOW serve on the network?
FLOW is designed as a multi-purpose resource rather than a simple medium of exchange. Its core functions include:
- Transaction fees: Every transfer or smart contract execution requires a fee paid in FLOW.
- Staking and delegation: Validators lock FLOW to secure the network; other holders can delegate tokens and earn a share of rewards.
- Storage costs: Accounts that store data on-chain pay a storage fee denominated in FLOW.
- Protocol governance: Token holders can vote on proposals that shape the network's future development.
How does Flow's multi-role architecture work?
Instead of requiring every node to perform all validation steps, Flow divides the workload among four specialized roles:
- Collection nodes: Gather pending transactions and prepare them for processing.
- Consensus nodes: Agree on the order and validity of transactions.
- Execution nodes: Run the actual smart contract computations.
- Verification nodes: Double-check the outputs from execution nodes to ensure correctness.
This design allows the network to handle high throughput without compromising decentralization. Flow operates under a Proof of Stake consensus mechanism.
What tools can developers use to build on Flow?
Flow offers two distinct development paths. The first is Cadence, a resource-oriented language built specifically for the network. It treats digital assets as unique resources that cannot be accidentally copied or destroyed. The second is full EVM equivalence, meaning Solidity contracts and tools like MetaMask work out of the box. This dual approach lets mainstream projects like NBA Top Shot and NFL All Day coexist with a growing ecosystem of third-party applications.
