Recap of the Flow Blockchain AMA with Blockchain Space
On Saturday, October 16th, we had the pleasure to welcome to our Telegram chat:
Annie, The Ecosystem Growth Manager, who is currently leading the APAC market growth at Flow Blockchain.
We asked her questions about the development of Flow Blockchain.
INTRODUCTION
Q~ Thanks for joining us today. Please start off by introducing yourself to the Blockchain Space community and your role in the team ?
A~ Hello this is Annie from Flow Blockchain. I am currently leading the APAC market growth:D Thanks for having me here today.
Q~ What is Flow Blockchain and the current Status of Flow ?
A~
Flow is home to the best brands and their billions of fans, where user experience comes first, communities grow boundlessly, and the relationship between brands, creators and users is being reimagined.
Flow’s ecosystem partners range from global IPs to indie developers and avant-garde artists.
The Flow ecosystem is thriving as people find their home on blockchain. Communities are coming to life and gathering around products they trust featuring the things they love; whether that’s sports, art, gaming, music or some other form of entertainment.
As projects on Flow continue to launch and grow, so do the ways in which platforms are being empowered to interact together in an open, non-custodial way. Empowering digital native ownership for users is the next step in building the open world on Flow.
Please learn more about us here:
Our website: https://onflow.org/
Discord: https://discord.com/invite/J6fFnh2xx6
Telegram: https://t.me/flow_blockchain
Twitter: https://twitter.com/flow_blockchain
GitHub: https://github.com/onflow
YouTube: https://www.youtube.com/channel/UCs9r5lqmYQsKCpLB9jKwocg
And for our 600+ ecosystem projects, please feel free to take a look here:
Q~ Explain more about the Flow Ecosystem growth ?
A~
The number of companies building on Flow has grown exponentially since December 2020, going from zero to 600 in the span of nine months. ✨🚀🔥
The platforms being launched range across different mediums, from music, to fashion, to sports collectibles, to wallets and developer tools.
While the NFT use cases are booming, we are seeing complementary services going live on Flow including fractionalized ownership, NFT collateral loans, social networks and more on the way.
If teams are building on blockchain, the best experience is on Flow.
And if you are interested in building on Flow, I highly suggested everyone to take a look of our doc and dev resources here:
Q~ What other metrics do you see as the growth of Flow Blockchain ?
A~
The pace of growth of wallet accounts has far exceeded the DeFi summer in 2020.
Wallet accounts outside of Dapper Wallet are growing at an accelerated pace on Flow.
The variety of applications and implementations available to end users has led to a rising number of network transactions, with Flow handling tens of millions more transactions during this huge growth period.
Flow was built for consumer-grade scale, and while the network has only been live for under a year, it has processed tens of millions of transactions for the applications being built on top of it. The network effect on Flow is still in its infancy stages, and it’s running at just a fraction of its full capacity.
Q~ Do you have anything you would like to highlight for the projects onboarding on Flow ?
A~
Want to build a project on Blockchain? I would say join Flow as earlier as possible.
The established consumer trust and technical reliability of Flow has empowered applications in their early stages to find immediate success. 🔥
1️⃣Chainmonsters is a prime example of this, with over 60,000 registered players in its closed Alpha phase, with a million dollar Genesis drop that sold out in a matter of minutes.
2️⃣Blocto, one of the most-used wallets on Flow, has amassed over 200,000 users since launching in under a year. This success has allowed Blocto to raise substantial VC funding since launching while generating over $5M USD in revenue year to date.
Companies building on Flow are capturing the attention of investors as well, with over $700M capital raised year to date. That number excludes Dapper Labs fundraises.
Q~ Since you mentioned that Flow is a consumer-friendly blockchain, can you explain more ?
A~ It’s critical that sustainability is front of mind when building a blockchain from the ground up, and Flow’s proof of stake consensus mechanism allows for an eco-friendly approach.
This is a distinguishing feature of Flow, one that businesses, developers and users all care about when considering the pros and cons between different blockchains.
Flow’s energy consumption equates to less than 1 gigawatt per hour, whereas Bitcoin consumes 110,000 GWh in comparison.
Q~ Any current news/update on Flow Blockchain ?
A~ We are celebrating “Flow Fest” starting Oct 12.
Flow Fest is a global virtual festival providing a fully immersive experience into the cutting edge of what is being built in blockchain, from collectibles to gaming to music to sports and more. There will be exciting reveals, exclusive drops, and a lot of fun!
It will include a global marketing campaign to attract tens if not hundreds of thousands of global collector audiences with the goal of channeling their attention toward our ecosystem partners’ launches/drops.
Welcome to participate and redeem your free mystery pack via discord 👀:
Each mystery pack will include 3 mixed NFTs, and please take a look here to see what you might could get:
Not sure if anyone here has heard of the NBA Topshots fans?
Don’t hesitate to join the discord and get a chance to claim the TopShot Legendary Series 1 Moment ✨🚀😎
QUESTIONS FROM TWITTER
Q~ In your website I read about a FLIP test program. Can you tell us what its aim is? How can I participate? How can I provide good and everlasting innovative ideas? What benefits do I get for doing this? How will the rewards be distributed?
A~
The first ever Flow FLIP Fest is a buildathon for developers to collaborate on an open source blockchain project.
A FLIP is a Flow Improvement Proposal; a community-driven initiative to discuss and execute impactful improvements on Flow.
The Flow FLIP Fest is a two-month event that will engage and reward participants for creating innovative and effective improvements to Flow.
The goal of FLIP Fest is to empower developers to build solutions on Flow that will have a lasting impact on the developer community and broader consumer audience by extension.
There are many areas to contribute, including:
Non-custodial wallets, SDKs, learning tools, and more critical areas where participants will propose their solutions to specified needs. This also includes feature requests from businesses already developing on Flow.
FLIP Fest registration opens on Sept. 15, 2021, and closes on Oct. 15, with FLIP Fest ending on October 30.
Q~ Flow is a fully developed platform ready to start creating applications. What are the types of applications that can be created on Flow? Can I only create apps that are associated with the cryptocurrency world?
A~ We are actually open for all kinds of dapps, and if you check here:
you could get more ideas of what kinds of dapps are onboarding on Flow now. From marketplace, collectibles to games etc. Also including art, music and education.
We would target the mainstream users, so basically we embrace all ideas here and fully open for you to onboard.
QUESTIONS FROM TELEGRAM
Q~ September was a big month for Dapper, with the firm signing multiple partnerships with top firms, along with raising $250 million in funding, can you outline some of these partnerships, and what do we users stand to gain from these partnerships?
A~ There’s also a really big partnership just launched recently -Dapper Labs partners on NFTs with Kevin Durant and Rich Kleiman
And another big momentum is Google partners with NFT leader Dapper Labs to support Flow blockchain:
Q~ Flow was designed as a foundation for internet-scale protocols and apps that require exceptional user experience. What do you mean with exceptional user experience, and how do you bring it to your users?
A~ I highly suggest you read this article written by Chainmonsters’ team:
As an early adopter on Flow Blockchain, they see the “main-stream” power of Flow on the Day 1.
Consumer-centric design offered by Flow allows you to: When a user launches a game on Flow Blockchain, they just start playing. They have an anonymous account created in the background and once they decide to continue playing and take full responsibility over their earned digital assets, they can claim their account. That is easily accomplished, without over engineering, thanks to the multi-sig support Flow offers by default. This approach is the way to go for onboarding traditional users and players and does not sacrifice decentralization or security.
One of the biggest difficulties when launching a blockchain app or game – and especially if you as the developer are paying fees on behalf of your users – is predicting how much it will cost you to keep the application running.
On Ethereum for example, this is extremely hard. To perform a transaction and successfully execute a smart contract, Ethereum users have to pay gas. It’s a special fee that depends on the complexity of the contract and how busy the network is. Gas fees are paid in ETH, Ethereum’s own cryptocurrency, and the average price some days goes over $20.
Also the transaction fee is paid by the game provider not the users
With Flow however, things are different and the reason lies right in the design of the blockchain architecture. There are two fees applied to transactions: one is for creating an account, which starts at 0.001 FLOW (about $0.03), and the other is a transaction fee that starts at 0.000001 FLOW. Creating an account is cheap. Transferring an NFT is even cheaper than that!
Q~ Devised by the team behind CryptoKitties, Flow was tested and developed with leading global partners? Who are these top global partners? What would be the advantages of this association?
A~ To date, Flow has begun to onboard some of the world’s top brands, such as the NBA, UFC, Ubisoft, Warner Music Group, and Dr Seuss, and catalyzed independent developers, leading institutions, and additional infrastructure partners.
Flow is built by the Dapper Labs team, creator of CryptoKitties and inventor of ERC 721 NFT standard on Ethereum
For details, please check here:
Q~ Only1 is based on Solana, why did you choose to build on this blockchain instead of Binance Smart Chain or others with more versatility? What are the positive features that Solana offers over $flow token & NFTs within Only1?
A~ Highly suggested you read this:
Every other decentralized blockchain’s plans for scaling depend on some kind of sharding or side chains. Unfortunately, our team recognized early on that these approaches make interactivity between smart contracts significantly more complex and error-prone.
In other words, sharding is a good solution for payments, but not for an ecosystem of complex applications like games or social networks.
After nearly two years of research we are happy to present Flow, a blockchain design that can meet mainstream developer and consumer expectations without sharding the network or compromising decentralization.
Q~ What about the security of the flow blockchain itself?
A~ You could take a look at this article:
The most crucial highlight in a Flow blockchain guide refers to the important functions of all nodes in its architecture. Flow blockchain helps in pipelining the work of blockchain miners or validators across different roles. Each miner or validator must have some stakes in the network, thereby separating concerns for a significant reduction in redundant efforts. What are the roles of the individual nodes?
- Consensus nodes help in decisions on the presence and order of transactions on the blockchain.
- Verification nodes take care of maintaining and supervising the execution nodes.
- Execution nodes, as the name implies, are responsible for the computation work related to every transaction.
- Collection nodes are involved in improving the data availability and network connectivity for decentralized apps.
CONCLUSION
If you don’t want to miss the Flow Fest celebration, here are 3 urls you need to know:
Flow Fest Website: https://www.flowverse.co/
Flow Fest Discord: https://discord.gg/flowverse
Flow Blockchain Official Website: https://www.onflow.org/
It’s really nice having the Flow Blockchain project in here!!!
You can check out their Website for more details. You can also follow them on Telegram and Twitter to keep up to date with all things relating to Flow Blockchain.
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