Flow by Dapper Labs (The company which created CryptoKitties) is a blockchain network that aims to be fast, secure, and developer friendly.
The idea for a new blockchain targeting games and social networks was conceived after Ethereum faced large scalability issues as seen with the high transaction fees during the CryptoKitties hype. The Flow team deduced shards and sidechains were not long term solutions for apps that strive for performance.
Flow raised $ 18 M in Public Sale round on October 10,2020.flow launches $725 million ecosystem fund to drive innovation across the flow ecosystem,The largest joint commitment made towards any blockchain ecosystem, the Ecosystem Fund participants will provide existing and future developers with support in building applications on the Flow blockchain through investments, FLOW token grants and in-kind support.
Investors include large backers such as Andreessen Horowitz, Warner Music Group, Union Square Ventures, Digital Currency Group, and more.
In 2024, Flow introduced the Crescendo upgrade, which is one of the most significant updates to the network. This upgrade brings full compatibility with the Ethereum Virtual Machine (EVM), allowing developers to deploy Ethereum smart contracts seamlessly on Flow. Additionally, Crescendo has dramatically improved network performance, reducing block times to just 0.8 seconds, further cementing Flow’s position as a fast, scalable blockchain suitable for high-performance applications.
Moreover, Flow’s $725 million ecosystem fund remains a powerful driver of innovation within the ecosystem. This fund provides developers with financial backing, FLOW token grants, and technical support, fostering the growth of new projects on the Flow blockchain. This commitment to innovation has helped attract developers and strengthen Flow’s standing as a leading blockchain platform in the Web3 space.
Above are only for introduction, not intended as investment advice.
