On November 8, Flow (FLOW) was officially listed on HotsCoin. Flow is a fast, decentralized, and developer-friendly blockchain aimed at providing the foundation for the next generation of games, applications, and digital assets. Flow's unique multi-role architecture allows for scalability without the need for sharding while maintaining developer-friendliness and adhering to an ACID-compliant environment. Flow is currently available for trading on HotsCoin.
HotsCoin takes note of the following token information for Flow:
- Circulating Supply: 1,036,200,000 FLOW
- Total Supply: 1,463,365,667.942 FLOW
- Circulating Market Cap: $631,231,053.654
- Fully Diluted Market Cap: $891,451,314.86
Key Events for Flow on HotsCoin:
- May 10, 2022: Flow launched a $725 million ecosystem fund.
- October 10, 2020: Flow completed an $18 million public funding round.
Product Technology:
HotsCoin highlights two notable features of Flow's technical architecture:
- Multi-Node Architecture: Flow's multi-node architecture divides various execution steps of the blockchain into different roles, including compute nodes, consensus nodes, verification nodes, and collection nodes. This division of labor enhances decentralization, allowing more nodes to participate in consensus, but it still faces some centralization concerns.
- Resource-Oriented Programming: Flow uses its in-house programming language, Cadence, which supports resource-oriented programming, making asset control more secure and better meeting the requirements of on-chain assets.
Operational Ecosystem for Flow:
The Flow ecosystem encompasses a variety of projects, including NFTs, DeFi, and gaming. However, NFT projects tied to sports IPs like NBA Top Shot dominate the ecosystem, accounting for a significant portion of Flow's transaction volume. While gaming and DeFi projects exist within the Flow ecosystem, their transaction volumes are relatively smaller and require further expansion.
Token Economy for Flow:
Flow's token, FLOW, is used to pay for on-chain transaction fees, incentivize nodes, and can be staked for storage space. The token was issued at the end of 2020 with an initial supply of 1.25 billion, using a low inflation model. Currently, approximately 72% of FLOW is in circulation.
Flow's Team and Funding:
Dapper Labs, the company behind Flow, was founded in 2018 and gained recognition with the CryptoKitties project before launching the Flow blockchain. The company has completed multiple funding rounds, raising a total of $6 billion. Investors include a16z, Union Square Ventures, Venrock, and Coatue.
Strengths and Challenges for Flow:
Flow's strengths lie in its technical innovation, a track record of successful NFT projects, and a solid foundation. However, it still faces challenges related to ecosystem diversity and heavy reliance on a few NFT projects for revenue.
In Summary:
Flow is a blockchain with scalability and innovation, aiming to support the next generation of applications and digital assets. While it has achieved significant success in the NFT space, it needs to expand its ecosystem and reduce its revenue dependence for broader success. The company's technical innovation and continuous experience with NFT projects will be a strong support for Flow's success.
HotsCoin will continue to monitor the project's ecosystem. (Report written on November 2023) Please note that the information in this report is for reference only and does not constitute investment advice. Before investing, it is essential to thoroughly understand the project and its associated risks and, if necessary, seek professional advice.
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