Flow chain is a blockchain developed by Dapper Labs, aiming to solve the expansion problem of Ethereum and support the construction of an open world. Although the Flow chain has been criticized in the crypto community as being too centralized, its development history has shown a process of progressive decentralization, attracting more and more attention.
Process overview
The goal of the Flow chain is to receive the next billion users, rather than just competing for native crypto users. To achieve this goal, the Flow chain makes difficult trade-offs between decentralization, security, and scalability. Since its launch in the second half of 2020, the Flow chain has gradually become decentralized in various dimensions, striving to create a more dynamic Web3 ecosystem.
The combination of digital assets and physical attributes: In the cryptographic world, digital assets are endowed with physical attributes and have digital power. Bitcoin is equivalent to gold, DeFi is a financial system without media, and NFT is similar to physical items, but has lower storage costs and is programmable and composable. Dapper Labs CEO Roham Gharegozlou once mentioned in a TED speech that blockchain is creating a world of digital assets and open source software that is as real and sustainable as the physical world.
The original intention and vision of Flow chain
The Flow chain was originally developed to reach millions or even billions of mainstream consumers. This chain hopes to promote the participation of all types of users by lowering the threshold for use, simplifying the process of turning ideas into reality. Roham and his team understand that the prosperity of both the open world and the physical world relies on the participation of people from different backgrounds and skills.
Although the Flow chain experienced a hot spring in 2021, its usage declined afterwards. The number of transactions on the chain reached a peak of 8.1 million in April 2021, and then dropped to 3.9 million in September. This change triggered a re-examination of the Flow chain.
The centralization vs. decentralization debate
In the crypto community, the degree of centralization of the Flow chain has sparked widespread discussion. Although the Flow chain has not yet achieved complete decentralization, its team is working hard to advance this goal. When many users first come into contact with the Flow chain, they may feel that its experience is too centralized, which makes them more inclined to pay attention to other public chains such as Solana and Avalanche.
However, Dapper Labs’ efforts in introducing users to Web3 cannot be underestimated. The original intention of many people to enter the encryption world is often closely related to the two projects "CryptoKitties" or "NBA Top Shot". The success of Dapper Labs lies in their ability to attract a large number of users and introduce them to the world of blockchain.
The rise of the Flow ecosystem
As the Flow chain gradually becomes decentralized, its ecosystem continues to grow. Dapper Labs acquired Brud to further enhance its DAO capabilities and increase investment in young users. This series of initiatives has enabled the Flow chain to gradually rise in the Web3 ecosystem, and is expected to become one of the most dynamic blockchain platforms in the future.
Flow chain is not only a technology platform, but also a tool that provides users with digital power. By combining physical attributes with digital power, Flow Chain hopes to create a more open and free digital world for users.
future outlook
Although the Flow chain faces many challenges, the vision and efforts of its team make this platform full of potential. As the decentralization process advances, Flow chain will be able to attract more users and promote the prosperity of the Web3 ecosystem. In the future, Flow chain is expected to become an important bridge connecting the physical world and the digital world.
In general, the success of Flow Chain depends not only on its technical capabilities, but also on its team’s deep understanding of user needs and keen insight into market changes. Over time, the Flow chain will continue to develop and become a truly blockchain platform for mainstream users.