• Blockchain

  • AI/ML

  • Web 2.0

  • Industries

  • Company

Flow Blockchain Vs. Ethereum – Which one is the better choice for NFT Development?

Webllisto

|

August 16, 2022

Are you the one who faces a dilemma in differentiating between flow Blockchain and Ethereum? Blockchain technology has travelled a long way with novice concepts of decentralized technology on platforms and applications. Since there is an increased demand for innovative Blockchain applications, software development companies in Indore are extending and modifying the technological aspects with the integration of several types of Blockchain for NFT Development.

However, many proponents believe Flow Blockchain to be the prime and reliable NFT development platform but several opponents keep faith in Ethereum Blockchain and regard it as an exceptional NFT development platform of all. So, how should one decide between the Flow Blockchain and Ethereum for NFT development? Before we proceed to the main discussion let us understand the core concepts of Flow Blockchain and Ethereum and break down the fundamental differences between the two.

Ethereum- The basics

Blockchain technology has long accompanied humans and amazed us with its revolutionary features in the field of decentralized applications. Ethereum is regarded as the second largest Blockchain platform which is an open-source scaffold embedded with advanced smart contracts for automated execution. Steadily, the Ethereum Blockchain network has widened its presence in the Blockchain arena with its ever-lasting impression on crypto investors.

The basic difference between Flow Blockchain and Ethereum lies in the implementation of programming languages. Referring to the Ethereum Blockchain network, Ethereum operates on Solidity as the primary programming language that it utilizes for structuring smart contracts. The scaffold of the Solidity language is custom-tailored for the Ethereum Blockchain platform sharing similarities with Python, JavaScript, and C++.

Way back the cryptocurrency Bitcoin paved its contribution to every crypto investor with a peer-to-peer cryptocurrency exchange. Whereas, the Ethereum network enhances digitization with the lightning speed of transactions and immaculate programming language.

Flow Blockchain- Understand the core concept

A recent addition to Blockchain technology is the Flow Blockchain which was founded in 2020 and is a robust competitor to the Ethereum Blockchain technology. The history of Flow Blockchain is quite a fascinating one with the development of the crypto kitties NFTs taking the crypto world to newer assets. The creator of the Flow Blockchain, Dapper Labs introduced Flow blockchain with a vision to scale up their decentralized applications with superadded features and functionalities.

Another critical aspect of the Flow Blockchain vs Ethereum platform attributes to its nodal structure that points to high-end security drawing a billion users. Flow Blockchain functions on its own piece of programming language known as Cadence which is equipped with extraordinary smart contract functionalities. Interestingly, Flow has been among the top choices of the NBA Top Shot driving it to be the best platform for the NFT Game Development.

 

Crucial factors differentiating Flow Blockchain and Ethereum

The Ethereum and Flow Blockchain both are pioneers in the field of the Blockchain arena. Flow is the inventory of the NFTs while Ethereum is the emerging medium for the trading of digital assets. So now let us gauge several factors and weigh them into either Flow or Ethereum Blockchain networks.

    • Scalability
      Beginning with the scalability aspect of the comparison, the Flow Blockchain is the topmost platform with higher scalability decentralized applications. However, the Ethereum network has a speed of 13 to 15 transactions per second, but to attract more users, Ethereum lacked expertise for high-scale usage. Whereas the Flow Blockchain is the champion of the ensuing scalability problem ensuring advanced security protocols and smart contracts.

      Furthermore, the Ethereum functions with horizontal scaling while the Flow functions with multi-node scaling are similar to vertical scaling.

 

    • Transaction fees
      Transaction fees are the next crucial factor in the selection of the Blockchain platform. Ethereum elects its gas fees based on the protocols of the smart contracts and their execution. On the other hand, the Flow has its gas fees applicable for the registration and the transactions. The initial fees refer to the creation of the account at 0.001 FLOW and the transaction fees at approx 0.000001 FLOW.

 

    • Account model
      The next factor on our list is the account model which is referred to as a private key. Ethereum has a private key of 256 bits or 32 bytes. The Flow shares an entirely different concept of the private keys with the inclusion of the public and private keys structures with the Elliptic curve Digital signature algorithm.

 

    • Consensus Mechanisms
      Ethereum functions on the consensus mechanisms of the proof-of-work, which assists in creating new blocks with ease. But recently, the developers of Ethereum have decided to shift to the concept of proof-of-stake with precise transaction verification. Whereas, the Flow Blockchain is operating on the PoS mechanisms that facilitate the reduction of the gas fees yet higher scalability.

 

    • Smart contracts
      When it comes to smart contracts, Ethereum is regarded as the primary platform rendering the smart contract development immutable. On the contrary, the Flow releases the smart contracts in the “Beta state” imparting the advantage to update the smart contract when required.

 

  • Working Philosophy
    Ethereum has its existence far before the Flow Blockchain, with principles such as modularity, agility, uniqueness, and several other factors. And the security and the scalability of the Ethereum platform cannot be denied. On the other hand, the Flow Blockchain was structured by the inspiration of Ethereum as an ideal Blockchain network. Hence, the Flow is created on factors that combat the flaws of the Ethereum platform.

The discussion of the Flow Blockchain and Ethereum is endless. Hence, it becomes difficult to select among the two versatile Blockchain platforms. However, with exceptional Software development companies by your side, you can break the clutter and progress into the world of advancing Blockchain technology. One such IT company in Indore, Webllisto Technologies, is a leading Blockchain development company that has exceeded its presence in California, The USA, and Lucknow, India. Our talent in the Blockchain arena is outstanding for a businessman to kick start their project under expert Blockchain development guidance.

Further, clear your understanding of the Flow Blockchain and Ethereum Blockchain from our Blockchain consultants and begin your voyage to the Blockchain sea!

icon icon icon
icon
Our Blogs
Our Recent Blogs
IMG
IMG
Webllisto | Co-founder
What are BRC 20 tokens? How BRC 20 VS ERC 20 can bring a new dimension to the blockchain landscape?
Webllisto | March 20, 2024
IMG
IMG
IMG
Webllisto | Co-founder
The NFT Generative Art Movement-Is it still relevant
Webllisto | January 30, 2024
IMG
IMG
IMG
Webllisto | Co-founder
How to Develop Generative AI Models That Are Transforming the Business Landscape Across Various Industries: A Comprehensive Guide
Webllisto | December 1, 2023
IMG