- Flow Blockchain offers a mix of flexible wallet solutions to onboard the next billion users into Web3.
- Builders can choose between full custody, account abstraction and wallet-less onboarding.
- Flow blockchain carries more than 2M accounts.
Flow Blockchain is one of the niche solutions, taken up by a handful of apps. But in 2023, Flow is emerging as another builder of seamless Web3 integration, with more chances of tapping into Web2 user bases.
Recently, wallet-less onboarding and hybrid custody went online for the Flow blockchain. The approach is added to Flow’s version of “account abstraction” and smart wallets, where users still control their assets securely. However, end users are not threatened by a loss of private keys and can recover their accounts.
The Flow blockchain already carries apps from earlier crypto projects, including DeFi. Flow also carries some of the more popular P2E and Web3 games such as Trickshot Blitz and Solitaire Blits. Flow Blockchain also issues the FLOW token, a relatively older crypto asset tradable since late 2021. As of 2023, Flow reports more than 2M accounts created for various tasks, including FLOW token staking. Nearly 3,000 smart contracts are active on the Flow blockchain.
How Hybrid Custody Helps Web3 Adoption
Flow has a goal to become a permissionless L1 solution, also known as an alternative to Ethereum. Flow is also open to all Web3 developers that want to deploy a product and offer seamless onboarding.
Flow is connected to multiple Web2 mainstream apps for the addition of tokens and NFT. The blockchain has already proven its ability to scale and offer seamless speed which is no different than Web2 usage.
New users for Flow-compatible apps can simply follow a standard Web2 process with a login and user identity. The apps also offer optional connections to third-party wallets, for more experienced users or those that already hold crypto assets.
For strictly Flow-based apps, any user can start using the app, while also moving NFT within the Flow ecosystem. Bridging and self-custody may be limited, but ownership remains secure. Flow also facilitates a community and the ability to build marketplaces, making games and apps more viable in the process.
Flow offers account abstraction for Web3 builders, offering a third variant where keys are stored in secure “key cases”, leaving the user in control but also producing an account that can be recovered.
