NFT Marketplace Development On Flow Blockchain

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NFT Marketplace Development On Flow Blockchain

NFT Marketplaces are undoubtedly now in the limelight, Many big players out there started entering the nft race. On the go, Popular Ecosystems like Ethereum, Binance Smart Chain, Solana are molding their architecture to get fit in the NFT Market. 

In this crucial time, When the market was filled with powerful competitors, Flow blockchain took a different approach and get into the game silently and even started to lead it

Let’s get a closer look!

Flow - The Blockchain For NFTs

Flow was launched by Dapper Labs, designed exclusively to cope up with NFTs. Actually Dapper Labs, underwent research and built Flow for their own NFT Marketplace Cryptokitties and also let other developers build their Dapps and any other projects on it.

The prime motto of flow is to act as the developer-friendly open space where one can build Dapps, NFT gaming platforms, and collectibles without any hurdles. 

Cryptokitties, The first-ever NFT platform went live on Ethereum but Dapper was not satisfied with the speed and efficiency of that blockchain and they have also faced congestion issues. Dapper doesn't want to wait for any new arrivals, so they build their own masterpiece ‘flow blockchain’ which promises low cost and high transaction speed.

Flow NFT Marketplace Development

Flow NFT Marketplace Development is the complete technical process of building an NFT marketplace on flow blockchain for various domains like art, gaming, music, real estate, etc. It involves the integration of smart contracts and native token development on Flow blockchain. 

Are you thinking of  building your own NFT Marketplace on Flow ? Cool! You are on the perfect destination!

Bitdeal, The leading NFT Marketplace Development Company, has profound experience in all kinds of blockchain technology. We Incorporate Agile methodology and build a gentle NFT marketplace with tight security features on flow blockchain.

How Does Flow Blockchain Work ?

Flow Works on Proof of Stake(POS) Consensus algorithm but carries a new cryptographic technique, Specialized Proofs of Confidential Knowledge (SPoCKs). In classic blockchain, every node has the responsibility to store all the transactions and here comes the congestion issues.

They have separated the functions of nodes with fine pipelined architecture , its node type involves

  • Consensus
  • Verification
  • Execution
  • Collection

The above four nodes participate in each and every transaction. This Segregation makes transactions more efficient and faster than other blockchains. 

Dapper stated that below are the pillars of their flow blockchain.

Multi-role architecture: Lets network to share billions of users 
Developer ergonomics: Exclusive smart contract written for crypto assets
Resource-oriented programming: For Upgradable Smart contract
Consumer onboarding: Designed for safe fiat to crypto transaction and wide consumers

The Issues Inherited In Other Blockchains

As mentioned earlier, Flow is designed ultimately for NFTs with a keen research process. The most common problem in other blockchains is Sharding, Which eventually reduces the speed and efficiency of the project. 

Dapper stated that Sharding is good when it comes to payments but it is not really suitable for complicated applications like NFT games or other Dapps.

Most of the blockchains till date provide solutions to scalability issues with inter connections and sharding this makes complications in the smart contract interactions, At times, it creates error and latency.

How Flow Blockchain Overcomes those Issues

Flow Overcomes all those problems with a unique approach. It designs a single shared state for all the smart contracts. Thus it promotes Atomicity, Consistency, Isolation, Durability (ACID) in every transaction.

In the early stage of Cryptokitties, A single user action consumes seven blocks and twelve transactions in other blockchains, once it comes to an unshared environment like flow, all other transactions come under a single block.

Tokenomics

Flow is the native token of Flow which encourages borderless digital transactions

Characteristics of Flow

  • Wide use cases
  • Low Monetary inflation
  • Huge Distribution

There are two types of fee on this network involves processing fees and computation fees

Top NFT Marketplaces Build On Flow Blockchain

CryptoKitties

Cryptokitties is the gaming platform where one can buy, sell, breed virtual kitties 

Top Expo

Top Expo is the real estate based NFT Marketplace built on Flow blockchain where one can buy and sell countries and dark lands.

NBA Top Shot

NBA Top Shot is the Basketball based NFT gaming platform that gains huge popularity in the recent days

The most popular nft marketplace, Rarible is on its way to shifting its stuffs towards Flow Blockchain.

Cadence Smart Contact

It is the first ever ergonomic smart contract language that provides precise tracking and interactions. All other smart contract languages are designed to track ownership whereas they started to reflect ownership instead of defining it. Flow uniquely designed the smart contract language to overcome those issues.

Benefits of Flow NFT Marketplace

  • Launched precisely for NFTs
  • Reduces latency
  • High Speed
  • Low Transaction Fee
  • High Efficiency 

Go With The Flow With ‘Flow Blockchain’.

About Bitdeal

Bitdeal is the prominent NFT Marketplace Development Company provides all kinds of NFT solutions in various domains. As a Pioneer in the industry we have hands-on experience on all kinds of Blockchain Technology. 

Our NFT Solutions On Flow Blockchains

Bitdeal’s best selling NFT Marketplace Clone Scripts

Our NFT Marketplace Development Solution On Other Blockchains.


Create Your NFT Marketplace On Flow Blockchain!

About Dheivanai

Greetings! This is Dheivanai! My love for writing transformed me as a blogger and the Passion for Crypto industry turned me as a business advisor at bitdeal. Crazy towards digging deep and analyze the new trends in the Cryptocurrency and Blockchain Industry. Follow us to read interesting and existing blogs! Stay tuned, Stay updated!

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