GEORGE TOWN, Cayman Islands--(BUSINESS WIRE)--The Crescendo upgrade to Flow, the layer-one hub for Web3 consumers, is now live on mainnet, enabling Ethereum Virtual Machine (EVM) equivalence for seamless, multi-chain interoperability to power a wide variety of next-generation applications. Home to such brands as Ticketmaster, NBA Top Shot, and the NFL, as well as crypto mainstays Alchemy, Izumi, and Moonpay, the Flow Network is validated by more than 400 nodes, including some operated by Google and other Fortune 500 companies.
The Crescendo upgrade drives forward network scalability, security, and decentralization, while also enabling full interoperability with Ethereum by embedding a fully equivalent EVM environment inside the Flow-native Cadence environment. This allows EVM-only applications to work with Flow like any other EVM chain while allowing Cadence developers to use the code and tokens in the EVM seamlessly and directly. In other words, any smart contract that works on Ethereum or an EVM-compatible L2 will work without any code changes on Flow. It also ensures backward compatibility with ERC-20 and ERC-721 standards for all fungible and non-fungible tokens on Flow, respectively.
Developers can easily add features and capabilities unique to Flow to their applications if they learn to use Cadence, the Flow-native programming language. These features include secure element-based key generation for user accounts capable of holding many keys, onchain randomization, scriptable actions within transactions without smart contracts, and much more.
Flow Evolves With Crescendo
In a statement, Dieter Shirley – co-creator and chief architect of Flow and board member on the Flow Foundation – expressed excitement over the substantial efficiency and utility unlock of Crescendo that will further position Flow as the premier ecosystem for on-chain experiences.
“The Flow ecosystem has always been about pushing the boundaries of what Web3 can be, such as with NBA Top Shot or Ticketmaster’s nearly 14 million on-chain accounts,” said Shirley. “With the Crescendo update, Flow has evolved into a more composable interoperable network, making it easy for EVM builders to build simply and directly on the network, and letting assets travel seamlessly across Flow and any other EVM-compatible ecosystems. This upgrade gives developers building on Flow more tools than ever before to expand on Flow applications within these sectors.”
As part of the Crescendo upgrade, Flow is now fully compatible with any smart contract written in the Solidity programming language for Ethereum or Ethereum-compatible networks in a fully composable way with smart contracts written in Cadence 1.0, the Flow-native programming language tailored for managing digital assets, including cryptocurrencies, on-chain art, and collectibles. Developers can build apps on Flow that can stand up to peak use without fail and surpass the limitations of other networks with Solidity or Cadence 1.0 –– or both.
Flow Community Rewards
Alongside Crescendo, the Flow Community Rewards program will launch to help developers attract users by rewarding valuable participation across the Flow network. The program rewards engagement with applications, so every game, trade, sale, or engagement in DeFi offers a chance for users to get something back in return.
Since its inception, Flow has been optimized for mainstream consumer adoption and superior user experiences thanks to, in part, a multi-role architecture that ensures high-throughput, low-latency performance. Flow Community Rewards offers yet another reason for people to flock to Flow, by rewarding them for the activities they already engage in as the network closely aligns with the needs of consumers and builders.
Crescendo extends the powerful capabilities of Flow to Ethereum developers, including gasless and scripted transactions that reduce friction, enabling smoother and more intuitive user interactions with applications. This pro-efficiency design is a key reason why Flow’s ecosystem features a strong community across sports, entertainment, and finance.
“The cumulative effect of all these upgrades is a superior experience for builders and users alike,” said Shirley, adding that the “Flow ecosystem is poised to grow at an accelerated pace.”
Developers Invited to Shape The Future In Flow World Tour
The call for developers to build the next killer app on Flow kicks off with the Flow World Tour, an event-packed months-long series of virtual and onsite hackathons. The global tour begins this September and runs until the end of the year with live and virtual events in major cities—RSVP to participate.
Flow World Tour Events Schedule:
September 2 - 5, 2024 – Seoul, South Korea
- Korea Blockchain Week (KBW2024)
September 24, 2024 – New York City, USA
- a16z Crypto Startup Accelerator
September 30 - Oct 2, 2024 – New York City, USA
- Messari Mainnet
Each hackathon event will focus on categories including consumer DeFi, sports, social and creator economies, and onchain gaming:
September 18 - 22, 2024 – Singapore City, Singapore
- TOKEN2049
- ETHGlobal Hackathon
- Special category: DeFi
October 18th, 2024 – San Francisco, USA
- ETHGlobal Hackathon
- Special category: Sports
November 1st, 2024 – Chiang Mai, Thailand
- Edge City Lanna Buildathon
- Special category: Social
November 15th, 2024 – Bangkok, Thailand
- ETHGlobal Hackathon
- Special Category: Gaming
Stay up to speed with the Flow World Tour by following the team on Instagram, Twitter/X, Discord, and Telegram.
ABOUT
Flow is home to the future of Web3 consumer experiences: a layer-one blockchain designed from the ground up as a platform for next-gen apps, games, and the digital assets that power them. Industry leaders such as Mattel (Barbie, Hot Wheels), LiveNation/Ticketmaster, and top tier creators including Dapper Labs (NBA, NFL, Disney) and Cryptoys (funded by a16z) and many more, trust Flow to power secure and seamless services to millions of users every day. To date, over 40 million accounts have submitted transactions on Flow.
Website: https://flow.com/
As the hub of consumer adoption in Web3, Flow offers developers more ways to build and reward users for their engagement. RSVP now to join an onsite or virtual event and become part of the first wave of groundbreaking app development in the Flow Web3 App Store.
