Sirwin
Sirwin

What Is Flux?

By Notum DeFi App | Notum DeFi App | 5 Mar 2022


Basics

Flux  is the blockchain protocol and backbone of the ecosystem. It stimulates transactions, FluxNodes, resource allocation on FluxOS, and mining to help protect the chain. The platform has its wallet called Zelcore.

It was launched on January 31st, 2018, as ZelCash. In March 2021, ZelCash rebranded to Flux as an essential step in the project’s roadmap. 

It was designed to provide blockchain-based solutions and decentralized computing services supported by a development environment and become a decent alternative to similar centralized services such as Amazon Web Services (AWS).

The Flux ecosystem helps developers to build decentralized applications (dApps) without additional fuss. Thanks to the Flux labs grants system, such developers can apply for funding to build dApps on Flux. 

Flux is an open-source, public blockchain, so anyone in the world can participate and contribute to the Flux network. Users can actively participate in the Flux ecosystem by running network nodes or mining. 

As for the mining, Flux miners are in charge of processing and validating transactions throughout the Flux ecosystem. 

Flux miners can choose from various mining pools, including native Flux blockchain community pools or mining pools created by supportive third-party teams such as the Flux Community Pool, Solo Pool, Zergpool, NLPool, etc.

 

Flux Token

FLUX  is their native POW (Proof-of-Work) cryptocurrency that powers the Flux ecosystem and is used for buying resources, collateralizing nodes, and running transactions on FluxOS, giving rewards to miners for validating transactions, and FluxNode users for providing computational power. 

Flux is available on Ethereum, Kadena, Binance Smart Chain, and Tron protocols alongside the native Flux chain. Flux will add support for more protocols as they become viable, creating a digital governance asset that can traverse the entire crypto space and take advantage of current and future Defi services.

Flux is community-driven crypto that community members can earn by mining and/or operating FluxNodes. The most involved and loyal members of the ecosystem always get the greatest rewards.

Flux asset is listed on various DEXs and CEXs such as UniSwap, Binance, KuCoin, PanCakeSwap, and alike. You can choose how to interact with them — trading or staking options are available.

Flux’s Roadmap

2021

  • The project made some upgrades to FluxOS, enabling UDP and multi-container support. Thanks to those upgrades, it’s possible to host more sophisticated apps, node deployment, and management simpler. 

  • The Flux parallel assets on the Solana and Tron blockchains were deployed in December. So, users will be able to benefit from the network’s increase in interoperability and from its unique trading opportunities as the Fusion cross-chain bridge will then support 5 out of the 10 planned blockchains.

  • The network has utilized more dApps and announced to deploy an additional 30 dApps during December in the so-called ’30-in-30’ event.

2022 

  • The team aims to introduce new parallels assets, AVAX, ADA, ATOM, and Matic are currently in review for possible utilization.
     
  • The platform will also launch an NFT feature in 2022 to offer its users access to one of the popular trends in the crypto world.

 

Wrapping it up

Let’s highlight the project’s strong points briefly:

1. The Flux ecosystem includes the Flux blockchain and FluxNodes, powering the computational FluxOS network. The Flux network presents a development field with easy-to-use Flux toolkits and simple integrations for developers to design, build, and manage decentralized applications (dApps). 

2. Flux project is the community-driven one, that’s why it’s focused on their user’s needs and demands, including building the necessary tools and infrastructure for facilitating a decentralized internet. The project governance operates through a community-run Flux governance XDAO, with each member being a FLUX token holder. 

3. It provides a frictionless opportunity for centralized applications (CEX) to transfer to the Web3 decentralized internet.

4. Flux ecosystem embraces a FluxOS, FluxNodes, a native Flux token, a native crypto wallet Zelcore, and XDAO.

5. These dApps are successfully running on Flux — EtherCalc, Libreddit, Minetest, Whoogle, Kusama Node, Polkadot Node, Minecraft Server, and many others.

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Notum DeFi App
Notum DeFi App

We struggled to find the best platform for crypto investing, so we've created our own. Meet a cutting-edge app to buy, swap, stake, and enter the crypto market with ease today! 👉 https://notum.ai/


Notum DeFi App
Notum DeFi App

We struggled to find the best platform for crypto investing, so we've created our own. Meet a cutting-edge app to buy, swap, stake, and enter the crypto market with ease today! 👉 https://notum.ai/

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