FLOW is the native utility token of Flow Network and is used by developers and users for staking, rewards, payment of transaction fees, and other purposes.
The Flow Network is a platform that allows developers to build decentralized apps (dApps) and blockchain-based games, and create and trade non-fungible tokens (NFTs). The Flow blockchain was created by Dapper Labs, the team behind the viral blockchain-based game, CryptoKitties, to ensure greater scalability and cost-efficiency without compromising on security.
The Flow blockchain relies on a Proof-of-Stake consensus mechanism, and is structured as a multi-node and multi-purpose framework. Through this architecture, Flow seeks to increase efficiency by creating subdivisions of its blockchain to allow for work to be split across five nodes:
- Collector Nodes - increase efficiency
- Execution Nodes - enable speed and scale
- Verifier Nodes - guarantee correctness
- Consensus Nodes - maintain decentralization
- Access Nodes - route transactions to correct collection nodes
There are countless products that are available on Flow, including NBA Top Shot and CryptoKitties. The platform offers collectibles for several sports leagues including the NFL and UFC.
What is Flow Network (FLOW)?
FLOW is the native currency that powers Flow Network’s ecosystem. As the required token for the network, FLOW serves as a medium of exchange, payment method, and reserve asset for the entire Flow Network economy. Token holders can use FLOW to access and earn rewards for dApps, blockchain-based games, and projects built on the Flow blockchain.
How to buy Flow Network (FLOW) on Binance.US
Buy FLOW Network (FLOW) with Bank Transfer (ACH), Debit Card, or Wire Transfer.
Deposits and withdrawals are now open for FLOW.
*Please note that Binance.US only supports BEP20 FLOW deposits and withdrawals. Binance.US does not currently support mainnet FLOW deposits and withdrawals. Do not send mainnet FLOW tokens to your Binance.US wallet. We will be unable to recover tokens sent to the wrong network address. For more information on the networks that Binance.US supports, consult our full list of supported assets and networks
Note: This article was last updated on May 5, 2022. Deposits for FLOW first opened on May 4, 2022 at 5 a.m. PDT / 8 a.m. EDT. Trading opened 24 hours later, along with the "Buy Crypto" functionality.
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