What is Flux cryptocurrency and how does it work?
The coin that drives the Flux ecosystem is called Flux. It serves a variety of functions, including as financing FluxOS transactions, acquiring resources, collateralizing nodes, and compensating both miners and FluxNode operators for supplying processing power.
The Flux ecosystem is committed to enabling everyone to create, deploy, and utilise the future decentralised Internet: Web3
The Flux ecosystem currently consists of: a native, mineable POW cryptocurrency ($FLUX), a potent decentralised computational Flux Network (FluxNodes), a Linux-based operating system (FluxOS), the leading digital asset platform (Zelcore), and, last but not least, the Flux blockchain for on-chain governance, economics, and parallel assets to provide interoperability with other blockchains and DeFi access.
Approximately 13,500 decentralised nodes with more than 98,000 CPU cores, 272 terabytes of RAM, and 6 petabytes of storage make up Flux’s computational network as of the year 2022/8. As a result, Flux is the world’s biggest decentralised network.
Over 4,000 dApps are already hosted on the Flux Network, and new decentralised initiatives are being added all the time. This is fueled by the growth of engaged alliances with other blockchain initiatives, companies, and app developers. Flux is and always will be a self-contained, user-driven, and open-source project.
What makes Flux unique?
The Flux Web3 requires decentralisation to function. Many initiatives dubbed “Web3” use centralised infrastructure, which implies they are not decentralised and put apps at risk of “single point of failure” because centralised data centres occasionally encounter downtime, which is common in centralised clouds. The first totally decentralised Web3 infrastructure, Flux has a 100% uptime and no single point of failure. PoUW has been created by Flux.
Proof of Useful Work will have a significant impact on both the cryptocurrency and traditional businesses. One of Flux’s largest initiatives, it has the potential to change the way we think about Proof of Work blockchains and find solutions to the existing sustainability problems that frequently draw unfavourable attention from blockchain sceptics.
Instead of using the random challenges found in standard PoW chains, Flux wants to employ the enormous amount of compute power its GPU miners generate to solve real-world problems. The kinds of practical issues that could be addressed range from video encoding to weather forecasting to supporting research teams’ machine learning models.
What are parallel assets in the Flux ecosystem?
Parallel assets can be compared to token bridges that enable the transfer of assets between blockchains. The hazards associated with decentralised finance applications being restricted to the Flux computational network can be eliminated by integrating parallel assets with a variety of applications, including those of decentralised finance.
This enables development teams working on Flux-based projects to preserve the distinctiveness of their blockchains while still having access to all the necessary infrastructure within the Flux ecosystem.
Due of the software’s cross-compatibility, the Flux operating system (FluxOS) extends the interoperability offered by parallel assets by allowing developers to execute any application on any blockchain. Flux parallel assets have the added benefit of opening up additional trading opportunities for arbitrage.
Flux traders can immediately profit from price disparities in flux parallel assets across several DEXs by fast exchanging native Flux for that parallel asset. Using the ‘Fusion’ feature of the Flux wallet, this may be accomplished in a matter of seconds (Zelcore)
Flux introduced its first parallel asset, Flux-Kadena, in April 2021. Flux-ETH and Flux-BSC, which are based on the Ethereum and Binance Smart Chains, followed. Flux-Sol and Flux-Tron were given out to native Flux holders by the third quarter of 2021.
Flux-Avax was the first asset released in 2022, and Flux-Ergo will debut in the following autumn. There will be ten parallel assets in total, six of which have already been deployed and four more are on the way.
What is the FLUX supply, allocation and distribution?
There are only 440 million FLUX and never will be. As they can travel between chains, the 440 million can live on any of the parallel asset networks or on the native Flux chain, therefore even while the circulating supply will be spread across numerous chains, the maximum supply will always remain 440 million.
There are 257,367,586 Flux currently in circulation as of 2022/8, 106,254,000 of which are locked in Flux nodes.
Since day one, Flux has been GPU mined; there was no ICO, IEO, or pre-sale. Allocations for FLUX Tokens: 94.7% belongs to users. 2,9% Foundation Flux Exchange Listing/Liquidity: 1.7 % A 0.7% Flux Team
Who runs the nodes in the Flux network?
POW receives 50% of the block reward, while FluxNode operators receive 50%. The current reward for mining a block is 37.5 Flux. A deterministic round-robin algorithm is used to allocate 37.5 Flux to node operators for each block, with the reward being divided among three node tiers. The round robin system’s “queue” lengthens when more nodes join a tier, lengthening the period between payouts. This guarantees a just, open, and predictable incentive system for FluxNode operators. Although the distribution of the unreleased parallel assets doesn’t happen until their release, both miners and node operators receive additional benefits through parallel mining, which is the distribution of Flux parallel assets. This effectively doubles the block rewards.
Users from all around the world operate decentralised nodes called flux nodes. Operators of Flux nodes have the choice of installing their node on their own hardware or using a VPS. Additionally, we have a number of community node providers, like Hostnodes or GoldieTech nodes, who run home-hosted nodes on their hardware for everyone. Flux is now the largest decentralised network in the world with approximately 13,000 nodes.
Together, Flux and Lumen Technologies are bridging the gap between Web3 and traditional infrastructure. With infrastructure spanning from edge computing enabled Nvidia Jetsons running in people’s homes to Enterprise level Lumen infrastructure leveraging adaptive networking and integrated security solutions, Flux will be able to give a totally unique Web3 experience. Anyone can take part in the Titan program’s deployment of enterprise-level infrastructure for the Flux network. It gives everyone a simple way to support Web3 and necessitates no technological expertise.
What are the Node Tiers?
Flux has nodes in three layers. Cumulus: Needs $FLUX 2 of 1000. Nimbus: 12,500 $FLUX 3 is needed. Stratus: Needs 40,000 Flux dollars
Users own this collateral, which is not locked. Operators of Flux nodes have the freedom to sell collateral and destroy their nodes whenever they like.
Recently, Titan on-chain staking was launched by Flux. The Titan nodes are potent Flux nodes of the Stratus tier run by skilled Flux node operators. The Lumen Technologies architecture is used by the Titan nodes to build appealing and potent hosting solutions for Enterprise clients. Community providers have stepped up and set up servers for Titan as well, keeping things decentralised.
You only need 50 Flux in the official Zelcore wallet as the required minimum Titan collateral to participate. You will be able to join a shared Titan node on the FluxOS market and lock your Flux in a 3, 6, or 12-month stake via Zelcore. After this point, your collateral and staking prizes will both be unlocked. Additionally, if you choose to have your stake renewed automatically, the Titan nodes will automatically compound your initial investment and rewards.
Want to run a Flux node? Visit https://runonflux.io/flux-nodes.html for more information. How do users benefit from Flux? What is the simplest way to take part in Flux? There are many ways of making the most of your FLUX. At first just by holding. Every time FLUX introduces a new parallel asset there is an airdrop of the new tokens to FLUX holders.
Then running nodes, on-chain staking in Titan nodes and staking on Coinmetro. Of course you can also be a Flux miner! Thanks to parallel mining it is very profitable, because you not only earn Flux on the main chain but on all parallel chains as well, in a 1:10 ratio to FLUX.
Engaging with the Flux community on Discord will also earn you FLUX. Who are Flux’s key partners, and how do these alliances benefit the ecosystem? Flux is incredibly honoured to participate in the Nvidia Inception programme! Through access to NVIDIA’s cutting-edge technology, professionals, networking opportunities, and co-marketing assistance, Flux will be able to advance more quickly.
Seeed Studio, a company that creates hardware for Flux nodes housed at homes, and Flux have teamed. Flux has announced a cooperation with Fortune 500 company Lumen Technologies. Through the development of an alluring technological platform for business clients, we will aim to promote the adoption of Web3 and the underlying next-generation technologies. On the development of PoUW use cases, Flux also collaborates with the University of Applied Sciences in Geneva, Switzerland.
Kadena is one of Flux’s principal business partners. The Flux network hosts the vast majority of Kadena’s nodes. Flux now serves as the default cloud platform for the majority of Kadena ecosystem applications, including KDLaunch, Kaddex, KDSwap, Docushield, Timpi, Babena, Miners of Kadenia, KDABet, Kadcars NFT, KadeFi, Arkade, Kadena Weeb, and more.
For some (projects or Dapps) outside the Kadena ecosystem, such as Kusama nodes, Polkadot nodes, Presearch nodes, Firo nodes, Ethereum light nodes, Rosetta Server, Raven nodes and explorer, Anchor Protocol, Haven Vault, Pangolin DEX, Aave Liquidity Protocol, Ergo Auctions, Osmosis, Ragnar Finance, and more, Flux also offers decentralised Web3 infrastructure.
FluxLabs, a blockchain incubation and acceleration project with a focus on early stage startups in the emerging blockchain and cryptocurrency industries, is one of the great successes that has been increasing the number of projects that use Flux infrastructure to deploy their DApps, nodes, or even part of their infrastructure.
Who are the Flux co-founders?
Three people co-founded Flux. Co-founder and Chief Strategy Officer of Flux is American Daniel Keller. With over 25 years of wide expertise in technology infrastructure, operations, and large-scale project leadership, this tech-savvy executive provides the capacity to bridge effective communication across all businesses.
The second Co-Founder, Tadeas Kmenta, has been working on the project from its conception and is now serving as the Chief Innovations Officer, focusing on cutting-edge technology created on Flux and FluxOS. Parker Honeyman, Chief Operations Officer and an engineer, is the third Co-Founder of Flux and contributes technical expertise and tried-and-true development methodologies to the endeavour.
Where to Buy Flux (FLUX)?
Depending on your location, FLUX is accessible on a number of cryptocurrency exchanges. The Flux market pairs page can be used to view the most recent list of exchanges and trading pairs for FLUX.
Many reputable exchanges, including Binance, BinanceUS, Crypto.com, Gate.io, KuCoin, and others, provide Flux.