Flow Blockchain Vs. Ethereum: Which Is Better For NFT Development in 2022?

Are you frustrated about determining Flow blockchain and Ethereum for NFT Development? We’ll tell you the key differences between them and give you some valuable advice to smooth the overall NFT development for your requirements.

Flow Blockchain

It is a fast, decentralized blockchain platform that can boost the growth of complete ecosystems of applications, particularly NFTs. The most critical factor in favor of Flow blockchain in the Flow vs. Ethereum comparison is its multi-node architecture. The unique blockchain platform could support the creation of apps with security and composability, which could appeal to billions of users.    

Flow utilizes its native currency, FLOW, as the reserve asset of the network. It also works actually as an exclusive token to facilitate governance, payment of transaction fees, and staking. 

The programming language of Flow blockchain also tilts the stakes in its favor in the comparison between Flow and Ethereum. Cadence offers the functionalities of a resource-oriented programming language equipped with new features applicable to smart contracts. Cadence’s unique features include in-built pre and post-conditions for transactions and functions and capability-based security.


You must know about the fundamental differences when you try to get a firsthand impression of the Flow blockchain vs. Ethereum comparison. Let us start with the discussion on Ethereum before anything else. The second-largest blockchain network, Ethereum, offers a decentralized open-source platform with innovative contract features and is undoubtedly a force to reckon with in the blockchain landscape. The creators of Ethereum needed to introduce a blockchain network with support for a wide range of use cases. 

The exciting fact about Ethereum, an essential aspect of the difference between Flow blockchain and Ethereum is its programming language. Ethereum leverages Solidity as a credible object-oriented advanced programming language for tailoring intelligent contracts. Solidity bears considerable similarities with JavaScript, Python, and C++. In addition, it has been explicitly tailored for Ethereum Virtual Machine.    

While Bitcoin arrived as a successful example of the blockchain network, it served only as a peer-to-peer currency exchange. On the contrary, Ethereum helps in the digitization and efficient movement of anything having a value other than the only cryptocurrency. Ethereum offers the benefit of Solidity as its programming language. Presently, Ethereum serves as the preferred platform for different decentralized applications and NFTs. 

To Compare Them Both

Transaction Fees

The comparison between Flow and Ethereum also takes the transaction fees into account. Ethereum users must pay gas as the fees for performing a transaction and ensuring the successful execution of smart contracts. 

The transaction fees on Ethereum depend profoundly on the complexity of the smart contract and load on the network. Users have to pay gas fees in Ether, the own cryptocurrency of Ethereum. 

In the case of Flow, the creators were not happy with the high cost of transaction fees. So, was Flow successful in solving the problem of high transaction fees? The answer to this question is evident in the facility of two distinct fees applicable for the transactions. 

The first fee in the case of Flow blockchain is the cost of creating your account, estimated at 0.001 FLOW. The second fee is a transaction fee which starts at almost 0.000001 FLOW. 

Consensus Mechanism

The topic of consensus mechanism will be one of the top priorities in the Flow vs. Ethereum comparison. Ethereum presently relies on the Proof-of-Work or PoW consensus mechanism, which pits miners in a competition for creating new blocks. The miners can solve cryptographic puzzles faster than others, with capabilities for establishing cryptographic connections among blocks. 

Furthermore, Ethereum developers are also planning to shift to the Proof-of-Stake or PoS consensus protocol. With the PoS consensus mechanism, validators would place ETH as stakes for participating in transaction verification. 

While Ethereum plans to introduce PoS, the Flow blockchain is already operating on the PoS consensus algorithm. The consensus algorithm comparison for Flow blockchain vs. Ethereum shows the difference in how participants make profits. PoS encourages participants to reap results from elevating the currency value. 

On the other hand, PoW encourages participants or miners to increase the commission. PoW is also one of the important reasons for scalability issues in Ethereum. So, Flow blockchain comes on top as a winner, especially for creators waiting to launch and capitalize on opportunities with NFT projects.

Smart Contracts

Smart contracts are also one of the pointers for Flow vs. Ethereum comparison. Generally, Ethereum is associated with smart contracts directly. It is practically the top platform preferred for creating smart contracts. Any transaction over the smart contract is documented on the blockchain and thus becomes immutable. 

On the one hand, some developers perceive the need for modifications in the intelligent contract after deployment in the event of identification of any issues. Flow helps release intelligent contracts in a ‘beta state’ on its mainnet. Therefore, the original author of the smart contract could easily update the code in a stepwise process. 

On the other hand, users could opt to use the code just as it is at a specific instance. Users could also wait for the completion of the legend before putting their trust in the code. Therefore, it is clear that Flow blockchain offers better flexibility in terms of smart contract optimization. 

Wrapping Up

The Flow blockchain vs. Ethereum debate discussion shows that both have suitable capabilities for various applications. However, the features of both of them have pros and cons, especially NFT development. While Ethereum is working on new solutions for scalability with sharding as the preferred option now, Flow blockchain offers scalability effortlessly with a multi-node architecture. 

Furthermore, Ethereum imposes high transaction costs and does not allow modifications in smart contracts, while Flow blockchain does the opposite. Flow blockchain takes the top edge in some facets in a head-to-head comparison. 

An Intro Guide To NFTs: Non-Fungible Tokens Explained

It’s 2022 and digital assets are gaining huge momentum. 

Cryptocurrency has already got its fair share of attention, and now NFTs are seemingly becoming the next big thing. 

Revolutionizing our understanding of digital ownership, the new trend is all about the recognition of authenticity and value. Although frequently deemed speculative, NFTs represent an actively growing market and a technology that empowers creators while providing rich opportunities for entrepreneurs. 

What is NFT, how does it work, how to leverage it successfully, and a bunch of other important questions – already answered – in this article.

Let’s jump in!

What are NFTs?

NFT stands for non-fungible token. 

Simply put, it’s a crypto digital item you can trade online, just like cryptocurrencies. The only difference is that, unlike Bitcoins or Ether, NFTs are one-of-a-kind assets that can not be replaced. Sort of like original James Bond film tapes. 

Some of the bright examples of non-fungible tokens include an artist’s collage of 5 thousand pictures sold for $69M, Eminem’s collection of original beats and digital action figures from music videos, and a video representation of the Internet’s alleged original source code.

Yes, NFTs are… something unique. In all possible senses.

How do NFTs work?

Technically, an NFT is a unique file stored on a blockchain

It can be a text document, an image, an audio clip, or even a tweet – virtually any piece of data can be “minted” into an NFT using a blockchain, a crypto wallet, and some cryptocurrency. 

What is minting?

Minting is the process of creating an NFT, i.e. adding a file to a blockchain network.

You can mint an NFT on your own or through a third-party service like an NFT marketplace, or us!

In general, it’s similar to uploading a file to a web host. 

How much does it cost to mint an NFT?

The price of minting an NFT ranges a lot and can be anywhere from zero up to hundreds of dollars, depending on the approach and platforms you choose. 

On the Etherium network (the most frequently used blockchain for NFTs right now), it’ll usually cost you around $70 of gas fees to mint an NFT independently.

Gas fees represent the price of making a transaction on a blockchain – something like road tolls – and are designed to cover the expenses associated with processing your request. Gas fees are auction-based, so you can choose to pay more to have your transaction executed faster. 

Note: Minting tokens on its own does not imply trading them, and you can expect to pay additional fees to list and sell tokens on NFT marketplaces. 

What are NFT marketplaces?

NFT marketplaces are online spaces where you can list, buy, and sell (and often – mint) NFTs, just like you would do with regular products and services on Amazon or eBay.

Right now, Open Sea is the world’s largest marketplace to monetize non-fungible tokens.

NFT marketplaces are not to misunderstand with NFT platforms, which refer to the blockchain networks where tokens are stored.

What is the point of NFTs? 

NFTs are revolutionizing digital ownership.

Think about all the forms of intellectual property, from patents and trademarks to memberships and subscriptions, virtual goods, and all sorts of paid content – virtually all digital space is owned by someone. 

NFT takes it to the next level. 

In essence, it is a way of ensuring original ownership rights through blockchain technology. In other words, what cryptocurrency is for money, NFT is for licensing and certification

Where do they use NFTs? 

The NFT technology can be helpful in a variety of scenarios related to licensing, certification, limited access, or any form of ownership.  

In essence, you can mint any digital or real-world item, product, or service into a non-fungible token.

Like that, NFTs can be used in: 

  • Content – to buy and sell digital art, music, and other creative works. 
  • Licensing and certification – to protect intellectual property, manage product rights, and earn royalties independently. 
  • Collecting – to buy and sell digital collectibles. 
  • Public and private events (as access rights) – to avoid counterfeiting, fake tickets, and compromised admission. 
  • Commerce – to easily trade real-world assets. 
  • Metaverse – as the basis of ownership in the virtual reality world. 

What is the current state of the NFT industry? 

Right now, art and artists are fueling the adoption of NFTs and can be considered pioneers in the field. 

Why so? 

The technology help artists protect their intellectual property, manage their product, and make money independently, on their own terms. 

That is why more and more digital creators like professional photographers, visual artists, and musicians are venturing into the NFT space to leverage their influence and try to make the most out of the trend. 

Just to drop some names on you, NAS is selling streaming rights to his music as an NFT (a rather “tangible” asset to think of compared to the more vague things like virtual clothes) and Snoop Dogg’s tokenized collection of voiced animation portraits is auctioning at some six-figure.  

Among other recent industry news, 

and last but not least – a book is sold for 2.66 million Euros.

Once again, NFTs are something different…

Why are NFTs so expensive?

Much like with cryptocurrencies, NFTs are evaluated by the market and protected by technology, rather than institutions. 

As a matter of fact, you may view non-fungible tokens as a form of crypto investment, a digital collectible, proof of ownership, or as certificate of authenticity – there really are many ways of looking at non-fungible tokens, and this is what fuels their price. 

Are NFTs Legit?

While NFTs have been called speculative and even scam, they are a valid type of digital assets, just like your Bitcoins, Netflix subscription, or a software license.   

Naturally, there are certain dangers with any investment

As for the technological component, the blockchain-based asset is as reliable as it gets as long as appropriate security measures are taken (like safe networks, strong passwords, controlled access, etc). 

Like that, we’ve seen cases where millions of dollars in NFTs were stolen through a common type of phishing attack. 

Read more about online security in our latest article!  

How can I benefit from NFTs? 

NFTs are a new kind of digital asset and a huge trend right now, which you can benefit from in several ways. 

Here’s what you can do:

  • Create your own NFT 

Before anything else, you can actively engage with the trend by personally creating something extravagant in the NFT space. 

Like that, you can tokenize your intellectual property, license a ready product or service, create a digital collectible, or any other type of NFT to then sell it and receive lifetime royalties. 

  • Invest in and trade NFTs 

Another way of benefiting from NFT is by putting money into it just like you would do with any other type of asset. 

You can make long-term investments in tokens that will likely grow in price over time, day trade or re-sell NFTs to make instant profits, acquire NFT product or service rights to earn royalties, or simply buy a digital item you like and add it to your collection. 

  • Facilitate NFT activities 

Last but not least, right now it is high time to develop various NFT platforms and marketplaces for others to fulfill their ambitions in the crypto collectible world. 

It’s not always easy for everyone to create, manage, and trade tokens on their own, so facilitating these processes through technical solutions and adding user-friendly interface, branding, and interoperability to the mix will likely find its demand in the rapidly growing market of non-fungible tokens

At the end of the day, NFT is really just what you make of it. 

We can help!

Struggling to find your place on the NFT bandwagon? 

We are ready to help! 

Our team can assist you in creating your own NFTs, developing a marketplace or platform for others to trade tokens, or ensuring the safety of your crypto endeavors.

Feel free to reach out!

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