Dapper Labs’ Flow blockchain is one of the most prominent networks in the rising NFT market, powering NBA Top Shot to more than $750 million of secondary market trading volume to date. As the firm expands into new NFT projects and other directions, it has also been working to further decentralize the Flow network.
Now, a Dapper representative tells Decrypt that the Flow is “fully open and controlled by the community,” with the firm running less than one-third of the active consensus nodes that maintain the proof-of-stake network. The company claims that 68% of nodes are now operated by external Flow validators.
A proof-of-stake network like Flow operates differently from the proof-of-work approach used by Bitcoin and Ethereum. Rather than use an energy-intensive mining model, Flow relies on validators who have staked a significant chunk of FLOW tokens and then earn rewards for processing transactions.
Decentralization is critical to the security of all blockchain networks, which
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