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- The host of Coin Bureau explains the key factors that can increase the price of Flow (FLOW), a layer-one decentralized blockchain.
- According to the Coin Bureau analyst, the problem lies in the partnerships of the high-profile alliances of the company as they then do not deviate towards crypto companies.
- Furthermore, the analyst points out that centralization is a threat to a trustless network, and Flow is quite decentralized.
Crypto Channel Coin Bureau host highlights what are the factors, according to him, that can increase the prices of Flow (FLOW).
A layer-one decentralized blockchain, Flow is used for developing games, applications, and non-fungible tokens (NFTs).
The Flow blockchain enables users to make payments and take part in the governance of the network through directly building functional improvements on its protocol layer. The blockchain has partnered with big names such as the NBA, Warner Music, and Ubisoft.
However, the Coin Bureau’s analyst shared with his nearly two million YouTube subscribers that the high-profile partnerships of Flow don’t prove to be completely beneficial for the blockchain.
The analyst explains that the main issue is that Flow’s collaboration with such high-profile players could be why the company shows no interest in appealing to the crypto community or partnering with crypto projects. With the lack of wallet support and the apparent absence of interoperability with any other cryptocurrency, the host backs his argument. “Remember that Flow has hundreds of millions of dollars in its back pocket,” the host adds.
FLOW, the native token of Flow, recently experienced price doldrums much like other crypto assets in the market. At the time of writing, the 61st-ranked crypto asset by market cap was trading at $5.33, down by more than 30% in the past month.
Further, the guy says that the price of FLOW can be beneficial by creating further inroads with the crypto community.
Moreover, the host says that as of now, the Flow blockchain is pretty centralized, and he points out that the “centralization is generally a risk to a trustless network.” The Dapper Labs, developers behind FLOW, are quite aware of this situation and are taking steps to decentralize the network further.
At last, the guy says that he is hopeful that more efforts will be made for the entry of regular crypto users through additional integrations and wallet support. These two things together can create the demand that Flow requires in order to start its constant supply shock, benefitting the firm in the long run.
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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
