What Is Flux?
What Is Flux? Flux is the new generation of scalable decentralized cloud infrastructure. Simply develop, manage, and spawn your applications on multiple servers at once. Ready for Web 3.0, Dapps, and more.
Covered:
- What Inspired Flux
- How Does it Work
- Limitations
- Social, NFTs and Gaming
- Rewards & Incentives
- Closing Thoughts
What Is Flux?
Flux is a decentralized computing network aimed to depend solely on it’s systems, hardware, participants and it’s blockchain. As society grows and becomes centralized, it can create an opportunity where companies can monopolize their sector. As an example, Facebook, Google, and Apple have a tight grip on how the “Tech” sector runs and is perceived. They generally produce the trends and lifestyles we all live through. As competition grows to few tech giants, it creates a high barrier to entry, as a result. Barriers to entry prevent individuals from resolving issues present in larger scale companies. I.E Facebook with perceived privacy/security issues. Flux takes a solution in hand and decentralizes the web to create a platform for creators. Where concepts, ideas, and values are up to the validator creating on the blockchain. With the rising influence of art (NFTs), metaverse, and gaming, the adoption of the abstract concepts like a decentralized web, becomes more accepted.
How Does It Work
Flux a native GPU mineable POW (Proof-of-Work) coin providing incentive for hardware hosts, XDAO governance on-chain, and bad actor mitigation via staking requirements for running hardware. Flux Nodes can be run on Raspberry Pi/Home PC/Servers/VPS hardware from anywhere in the world. Flux node operators are rewarded with Flux through block rewards, but are also able to earn other cryptocurrencies by hosting specific dapps on their nodes.
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FluxOS and the network hosts more than 30 Dapps including blockchain infrastructure, social media, data oracles, websites, games and file storage. It is especially pivotal for their tight partnership with Kadena. As Kadena’s ecosystem grows as a layer-1, it will yield exponential growth for both projects.
Source: Runonflux.io
The official Flux Wallet is Zelcore. A premiere multi-asset, self-custodial wallet for PC and mobile with in-wallet integration of major centralized and decentralized exchanges. Flux Fusion is a defi bridge built on Flux. Providing accessibility to major decentralized exchanges like Uniswap and Pankcakeswap.
Source: Coinmarketcap.com
Limitations Or Issues
The primary limitation of Flux will be adoption. Many projects are promising, with an original vision, solution to a problem, smooth initial rollout, roadmap and still fail to succeed. Projects need a way to separate themselves from the rest and become relevant with short-term and long-term issues. Even then, it is an incredible barrier to entry in the top 50 cryptocurrencies.
Other layer-1 competitors. The competition is growing stronger in the top 50 in terms of smart contract protocols. While Flux is not in direct competition with them, Kadena, a close partner is competiting with the layer 1 networks. Kadena can facilitate functionality and partnerships for Flux. Kadena’s ecosystem that will open the doors for Flux’s extensive network of products and services. If Kadena is limited, one can speculate Flux could be limited as well.
Another direct competitor to Flux is Internet Computer (ICP). Definitely known to the public eye and is very available on most centralized exchanges.
What Is Flux? Tokenomics
A robust validator model. Where participants are incentive to climb tiers in order to have more opportunity in the network. The more Flux you provide as a validator the more activity and interest you can yield as a result.
A Fixed Supply to be minted over a period of time.
The Team
“Written and maintained by the Flux Development Team”
Tadeas Kmenta, Daniel Keller, Parker Honeyman
Social Network, NFTs & Gaming
- Social Apps
- Drapalo – multipurpose, location-based, time-restricted messaging platform; a global bulletin board system, where all messages have a lifespan and eventually expire.
- Nitter – Web 3 version of Twitter
- Internet Relay Chat – Web 3 version of Discord
- DApps
- Presearch – Community powered, decentralized, search engine
- Folding@home – Distributed computing project aimed to help scientists develop new therapeutics for a variety of diseases
- SyncPaint – allows multiple users to draw on one canvas at the same time. You can draw together with other people simply by sharing the link to your room.
- Oracles
- DibiFetch – creates an opportunity for users to have raw, uncontrolled, and unfiltered data in a decentralized and seamless solution
- Price Rate Servers
- The ZelCore wallet pulls all pricing data from price rate servers running on FluxOS.
- Game and web servers – Hosting of game and web servers to provide content for end-users.
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Flux Fusion is a defi bridge built on the scalable protocol. Providing accessibility to major decentralized exchanges like Uniswap and Pankcakeswap.
Fully integraded with Kadena’s Ecosystem.
Rewards & Incentive Structure
Flux has seen price appreciation and a noticeable similarity between Kadena price action. As the price continues to climb the staking rewards become much more potent.
Source: Flux Whitepaper
As Kadena’s layer-1 continues to build and take market dominance from Ethereum, one can speculate that both Kadena and Flux will do quite well
Source: Flux Whitepaper
Closing Thoughts & Price Action
Certainly, a promising ecosystem. As we see Kadena appreciate and become more mainstream, we can bring out more value through the Flux network. Flux brings forth significant value and is similar to the ICP project. Differentiating it, is their vast network of partners, community, tokenomics, and growing relevance. We really see this as a frontrunner if it can break into the top 100. While we are bullish, we would say its weakness is the overshadowing of projects with comparable products.
What Is Flux? Where To Buy?
Similar to how you would buy another cryptocurrency, you can purchase Flux on most major exchanges like KuCoin. You can either place a market buy or a limit buy. With a limit buy, you determine the price you are willing to pay, and your order gets filled once the token price reaches your limit price. If you want to get your hands on the token quickly, you can place a market order, where you agree to pay the current price and have your order filled almost immediately. If you are interested in purchasing Flux you can do so by visiting KuCoin or Crypto.com
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