Flow blockchain provides an ecosystem and community to enhance opportunities for NFT trading, DeFi and gaming.
- Flow Blockchain offers a combination of flexible wallet solutions to onboard the next billion users to Web3.
- Builders can choose between full custody, account abstraction, and wallet-less onboarding.
- Flow Blockchain has over 2 million accounts.
Flow Blockchain is one of the niche solutions and featured in few apps. But in 2023, Flow will emerge as another builder of seamless Web3 integrations, likely to tap into the Web2 user base.
Walletless onboarding and hybrid custody for Flow blockchain has recently come online. This approach is added to Flow’s version of the “account abstraction” and smart wallets, allowing users to continue to manage their assets safely. However, end users are not threatened by losing their private keys and can recover their accounts.
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The Flow blockchain already features apps from previous crypto projects, including DeFi. Flow also features some popular P2E and Web3 games such as Trickshot Blitz and Solitaire Blits. Flow Blockchain also issues FLOW token, a relatively old crypto asset that will be tradable from late 2021. As of 2023, Flow reports over 2 million accounts created for various tasks, including staking FLOW tokens. About 3,000 smart contracts are active on the Flow blockchain.
How Hybrid Custody Helps Web3 Adoption
Flow has the goal of being a permissionless L1 solution, also known as an alternative to Ethereum. Flow is also open to any Web3 developer who wants to deploy their product and provide seamless onboarding.
Flow is connected to multiple Web2 mainstream apps to add tokens and NFTs. Blockchain has already proven its ability to scale and deliver seamless speeds that are no different from using Web2.
New users of Flow-compatible apps simply follow the standard Web2 process with their login and user ID. The app also offers optional connections to third-party wallets for experienced users and those who already hold crypto assets.
For strictly Flow-based apps, any user can start using the app and at the same time move NFTs within the Flow ecosystem. Bonding and self-management may be restricted, but ownership remains secure. Flow also facilitates the ability to build communities and marketplaces, making games and apps more viable in the process.
Flow provides Web3 builders with an abstraction of accounts, offering a third variant where keys are stored in a secure “key case”, allowing users to manage as well as restore recoverable accounts generate.
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