What Is Onflow ?
Onflow is a fast, decentralized, and developer-friendly blockchain, designed as the foundation for a new generation of games, apps, and the digital assets that power them. It is based on a unique, multi-role architecture, and designed to scale without sharding, allowing for massive improvements in speed and throughput while preserving a developer-friendly, ACID-compliant environment.
Flow empowers developers to build thriving crypto- and crypto-enabled businesses. Applications on Flow can keep consumers in control of their own data; create new kinds of digital assets tradable on open markets accessible from anywhere in the world; and build open economies owned by the users that help make them valuable. Smart contracts on Flow can be assembled like Lego blocks to power apps serving billions of people, from basketball fans to businesses with mission-critical requirements.
Onflow Storage Key Points
|Circulating Supply||64,444,582.00 FLOW|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Onflow Coin In a traditional blockchain, every node stores the entire state (account balances, smart contract code, etc.) and performs all of the work associated with processing every transaction in the chain. This is analogous to having a single worker build an entire car. From manufacturing to CPU design, pipelining is a common technique for dramatically scaling up productivity. Flow applies pipelining to blockchains by separating the jobs of a validator node into four different roles: Collection, Consensus, Execution, and Verification.
This separation of labor between nodes is vertical (across the different validation stages for each transaction) rather than horizontal (across different transactions, as with sharding).
In other words, every validator node still participates in the validation of every transaction, but they do so only at one of the stages of validation. They can therefore specialize for — and greatly increase the efficiency of — their particular stage of focus.
Human Readable Security
On current networks, it’s nearly impossible for an app or wallet software to provide a human-readable message clearly outlining what permissions they’re giving when authorizing a transaction. The Flow transaction format makes very strong guarantees about what kinds of changes a transaction can and can not make. This makes it easy for the wallet to ensure users are making informed decisions about what they are approving.
Fast, Deterministic Finality
Onflow Coin from the standpoint of end users, the speed of a blockchain is most practically measured by the time it takes before they (or their client software) can be confident their transaction is permanently included in the chain. This is commonly referred to as “finality”. In Bitcoin, most people define finality as six block confirmations which can take more than an hour. Ethereum improves on this by achieving probabilistic finality after about 6 minutes.
Problems with Sharding
Most proposals aim to improve the scalability of blockchains by fragmenting them into inter-connected networks: commonly shards, although sidechains have the same issues. These approaches remove serializability (“ACID”) guarantees common in database systems.
Onflow Coin Loss of ACID guarantees makes building an app that needs to access data across fragments far more difficult and error-prone. Interactions between smart contracts become very complicated, and even individual large-scale applications would have to resort to complex mechanics to scale across shards due to latency issues and higher transaction failure rates. The combination dramatically limits the kinds of applications possible on the network as well as their network effects. Sharding effectively saddles the hardest part of scaling the blockchain onto application developers rather than solving it at the protocol level.
Separating Consensus from Compute
The core insight that led to architecture of Flow is that we can separate non-deterministic processes from deterministic ones and assign each to different types of nodes based on their technical capabilities to dramatically increase the blockchain throughput and solve several user- and developer experience problems with existing networks at the same time. Our realization was that tasks within a blockchain can be divided into two types:
Onflow experience developing blockchain applications like CryptoKitties and the Dapper Smart Contract wallet has led us to incorporate a number of improvements to developer ergonomics directly into the protocol layer on Flow. Several are outlined below.