Flux as a Key to unlock the potentials of Web3

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  • January 22, 2022
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Why Web 3.0?

With the advent of web3, the internet has been open to all the driving possibilities. Web 3.0 is a new paradigm for an interactive web based on blockchain and incorporates the concept of decentralization and token-based economics. Actually, Web 3.0 relies on blockchain, fused with AI where it strongholds the world wide web and holds the key to backstage the corporate tech giants which are yet centralized and more or less governed by a corporate system or the conglomerates.

Web 3.0 is not merely a part of the Web or the internet, rather it’s something that holds the blockchain technology, and underpins the new era of cryptocurrency and NFT’s. The good aspect of Web3 is that the platforms and applications are provided to the actual users who are eligible to get the ownership stake, as of which they help the decentralized system to develop and maintain these services, in terms of making the entire Web 3 robust and distributed.

Flux is the Key to unlock the potentials of Web3

Flux is a decentralized cloud computing network on the Flux blockchain, which utilizes Proof-of-work (PoW) consensus mechanism acting as main incentivization for operating a FluxNode. Flux is an open-source, community driven and independent project without any outside investors. As such $Flux is fairly distributed without any pre-mined coins or distributions for others than holders, miners and node operators. Flux is a fork of Zcash. It’s an ecosystem of decentralized computing and blockchain-as-a-service which offers an interoperable, decentralized, and robust development environment. The FLUX cryptocurrency is the native utility token of this network. Flux can be attained via GPU mining, trading on available exchanges, and as rewards for operating nodes. Flux is comprised of user-operated, scalable, and globally distributed computational nodes which run on top of Linux to provide the network with highly benchmark-ed computing resources. Flux aims to build a decentralized finance (DeFi) infrastructure by staying independent and focusing on innovation in blockchain technology. The FLUX crypto has several use cases like acting as a governance token and paying for the network’s fees. The Flux ecosystem acts as an interoperability layer that will enable the flourishing ecosystems of interoperable dApps to thrive and replace centrally controlled data monopolies. This allows users to be rewarded for providing hardware to the network, from anywhere in the world.

 

Flux Parameters

The basic coin parameters for Flux are:

Mainnet launch Jan 31st, 2018
BlockReward 150 (@launch)

75 Flux(now)

Emissions[Halving] 2.5 years
Mining Algorithm FluxHash[EquihashR 125_4]
Block time[TTF] 120 seconds
Consensus Mechanism Proof of Work
Reward ratio[POW/nodes] 50/50
RPC/P2P ports 16124/16125

 

Flux node operators can choose from three tiers of hardware requirements to stand up after providing the necessary Flux capital soft-locked in their wallet.

The different levels of required collateral and hardware specifications are outlined below:

 

Requirements

Cumulus

Nimbus

Stratus

vCores

2+

4+ | 200+EPS

8+ | 400+EPS

RAM

4+ GB

8+ GB

32+ GB

Storage

50+ GB

150+ GB SSD | 160+

MB/s write speed

600+ GB SSD | 160+

MB/s write speed

Bandwidth

>25mbps up/down

>50mbps up/down

>50mbps up/down

EPS= events per second

 

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. The Flux economic model highly incentivizes holders, GPU miners and node operators through airdrops, mining and node rewards. Node operators are also able to earn additional cryptocurrencies through paid partnerships and paid app hosting.

 

Flux Market

At the time of writing this article, Flux price in coinmarketcap is capped at 2.17 USD. Preferentially, with the statistics for, 1 unit of Flux can be traded for approx. 0.00005547 BTC or 0.0007526 ETH.

Let’s talk about the Flux market,

Currently, Flux is available for trading in various DEX and crypto markets like, Binance, KuCoin, Gate.io, Bittrex, Coinone, MEXC, Tokyocrypto, CoinEx, CoinMetro. Bitrue, CoinDCX, TradeOgre, CoinMetro, HitBTC, Pionex. Hotbit, STEX, PancakeSwap(V2) and more on the list.

In the last 12 months, the FLUX crypto skyrocketed by 9,068 per cent and it has a circulating supply of221.2 million tokens.

Zelcore is the official Flux wallet that is a premiere multi-asset, self-custodial wallet for PC and mobile with in-wallet integration of major centralized and decentralized exchanges.

FluxOS is An operating system running on top of Linux to manage the network by verifying and benchmarked compute power, deploying, running and load balancing decentralized applications, managing XDAO governance and more. Any hardened dockerized app can be deployed via FluxOS and the network currently hosting more than 30 dapps including blockchain infrastructure, social media, data oracles, websites, games and file storage.

Flux is the ultimate cryptocurrency

Flux is vital to the blockchain space as it provides critical infrastructure, development tools, and industry experience necessary to quicken the pace of blockchain solution rollouts. Flux allows users to build their own novel blockchain products, for strategic partners to leverage computing power and services they require to thrive, and for independent block-chain developers to launch their ideas efficiently. The infinity contracts will allow developers to build powerful and scalable decentralized apps in their one native language on the flux network with severely less or negligible fees. Flux is an entire ecosystem tailor-built to provide developers with the necessary tools and infrastructure to build and host decentralized applications on Web 3.0. It operates a robust decentralized computational network consisting of more than 2300 nodes and leverages blockchain technology to create truly decentralized infrastructure for Web 3.0. Also, there are Flux “parallel assets” to allow the Flux governance coin to function on all DeFi protocols including Kadena, Binance Smart Chain, Ethereum, Tron, and more over time. The first parallel asset is Flux-KDA, allowing Flux holders to experience the Kadena ecosystem and DEX without having to buy new assets. More parallel assets will be released including Flux tokens on Ethereum, Tron, Binance Smart Chain, and more protocols as new DeFi products emerge and stabilize into reputable service platforms.

Conclusion:

Flux is actually a MEVN(MongoDB, Express, Vue.js, and Node.js) stack built from scratch by the Flux team which acts as a second layer operating system to complement the base Linux OS running on all FluxNodes, An operational network of decentralized computing power is one of the core modules to the Flux Ecosystem, providing the ability for Flux and third-party developers alike to run their applications on a fair-priced network. Flux acts as the master coordinator for launching dockerized applications, sidechains, and asset layers. It handles the deployment of apps, manages the resources of each FluxNode to balance hardware usage, and communicates between the FluxNodes to provide real-time computing matrices. This connectivity helps to ensure FluxNodes meet the minimum system requirements and with an active benchmark to allow fair operator rewards and a robust decentralized network. In conclusion to this article, we can conclude that Flux project is highly committed to building a true decentralized future by staying independent and continually pushing for innovation and disruption in blockchain technology.

References:

[1]Flux Official Website |RunOnFlux.io.Accessed: (Jan21, 2022)

[2] Flux White Paper| RunOnFlux.io. Accessed (Jan 21, 2022)

[3] Coinmarketcap Official | coinmarketcap.com Accessed (Jan 21, 2022)

[4] Coindesk | coindesk.com.What is web 3? Accessed (Jan 21, 2022)

 

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