Flow - Blockchain for NFT

A permissionless layer 1 blockchain, empowering developers to create limitless Web3 apps for mainstream adoption. Flow is a fast, decentralized, and developer-friendly blockchain designed to be the foundation for a new generation of games, apps, and digital assets that power them.

Multi-Role architecture-

The network has specialized roles: Consensus Nodes and Execution Nodes.

Consensus node- decides the presence and order of transactions on the blockchain. It forms blocks from transaction data digests. Essentially, Consensus Nodes maintain and extend the core Flow blockchain.

Execution Nodes perform the computation associated with each transaction. They produce cryptographic attestations declaring the result of their efforts in the form of Execution Receipts.

Specialized Proof of Confidential Knowledge(SPoCK)

A SPoCK allows any number of provers to demonstrate that they have the same confidential knowledge(secretζ). The protocol prevents Execution or Verification Nodes from copying Execution Results or Result Approvals from each other.

Block formation is a continuous process executed by consensus nodes to form new blocks. Flow requires that all Consensus Nodes follow the same protocol when responding to events. The Consensus Node selected as the primary of the current round has to propose the next ProtoBlock pb. Protoblock is a block that does not contain randomness.

NFT Support - Flowty is a platform on the Flow blockchain that allows users to buy, sell, borrow, lend, and rent their NFT.

Flow features

Transaction per second(TPS)- 1000 tps

Block time- 1 second

Programming language- Flow uses a new programming language called Cadence.

FLOWUSD surged more than 18% in the past three days after a long consolidation. It hit a high of $0.827 and is currently trading around $0.808.

The bullish invalidation can happen if the pair closes below $0.59. On the lower side, the near-term support is $0.76. Any break below target $0.690/$0.600. Any breach below $0.59 targets $0.40.

The immediate resistance stands at around $1.10. Any breach above confirms bullish continuation. A jump to $1.29/$1.66  is possible. A surge past $1.66 will take it to $2.05.

It is good to buy on dips around $0.69 with SL around $0.59 for TP of $1.10.