Within the blockchain space, there is a consistent stream of new products, services, and applications, all of which aim to enhance the overall experience in Web3 and provide a better future for the blockchain space.
One of the products, however, that stands out in this regard is known as Flux. Today, we are going to cover everything you need to know when it comes to Flux and its decentralized cloud infrastructure.
What is RunonFlux (FLUX) ?
Flux is a computational network that’s decentralized and aims to be the foundation of Web 3.0 products. Flux serves the role of being an infrastructure that features a high level of availability.
What this means is that any application is able to run on top of the fully decentralized computational network.
Additionally, Flux offers a service that is an alternative to other cloud service providers, in which it powers an ecosystem that can be used for buying resources, collateralizing nodes, and fueling transactions on the FluxOS.
Miners are rewarded for validating the transactions, whilst FluxNode operators are also rewarded for providing computational resources on top of the network.
FLUX is the native cryptocurrency, which is used as a reward for miners and FluxNode operators.
The block reward is divided by 50% for PoW and 50% for FluxNode operators.
What Is The Role of Flux?
Flux aims to provide blockchain-as-a-service solutions that are built on top of blockchain technology.
In other words, Flux runs on its own blockchain and can enable users to buy resources and gain access to decentralized two-factor authentication (2FA), for example, as a use-case.
Flux is driven through the utilization of a Proof-of-Work (PoW) cryptocurrency, with fair distribution, in which community members are able to earn newly created FLUX coins through mining or operating the FluxNodes.
Those that end up contributing the most to the network, as well as to the operation of the ecosystem, gain the best rewards. As a means of supporting the overall network, Flux utilizes a unique, custom POW hashing algorithm which is called FluxHash.
The algorithm is Application-Specific Integrated Circuit (ASIC) resistant, or in other words, it is appealing to Graphics Processing Unit (GPU) miners and ensures that the mining pool can be as decentralized as possible. The hashing algorithm is based on the Equihash algorithm from ZCash and ZHash.
Why Does Flux Have Value?
When it comes to the value behind Flux, there are numerous reasons why it has managed to stand out when compared to other competing blockchains.
Specifically, Flux offers a suite of decentralized computing services and solutions that developers can utilize to create decentralized applications (dApps) and other types of solutions.
Specifically, its ecosystem features numerous elements, including:
- FluxNodes – incentivized, distributed, and enterprise-grade computing nodes aimed to power the entire ecosystem. There are a total of three levels of FluxNodes, all of which feature increased amounts of collateral and have different hardware requirements. The three levels include Cumulus, which Requires 1000 FLUX; Nimbus, which Requires 12,500 FLUX; and Stratus, which Requires 40,000 FLUX.
- FluxOS – this is essentially a Layer-2 application that runs with Linux and aims to benchmark and verify each node whilst performing load balancing as well as reverse proxying. It aims to build the WebGUI for node operators to be able to easily maintain their nodes, and it can even handle hundreds of Docker images and enable the network to run smoothly. Additionally, FluxOS is written on the MEVN ( MongoDB, Express, Vue.js, Node.js) stack and is open-source.
- Zelcore – a Self-Custody and Multi-Crypto Asset Wallet
- Flux Blockchain – utilized for on-chain governance, economics, and parallel access.
Within the ecosystem, each user is able to begin staking Flux within the network or gain access to the Flux Drive.
The Flux Drive enables users the ability to store files on decentralized storage. There is also an ecosystem of applications that run on top of the Flux network.
Flux Ecosystem of Decentralized Applications
To truly understand the impact, as well as the value of the Flux network, it is important to take a look at some of the solutions or dApps created on top of it.
Some of the most notable examples of the Flux ecosystem include:
- Online Compiler – a web-based tool powered by Collegeek Online Tutorials, which can be used to learn, build as well as run tests through the usage of programming languages such as C, C++, Java, Python, JavaScript, and more.
- DeSo Node – this is a Layer-1 blockchain built from the ground up and aims to decentralize social media.
- Raven Node – a peer-to-peer (P2P) network aiming to implement a use-case-specific blockchain and is designed to efficiently handle the function of transferring assets from one party to another.
- Pivx Node – The financial data of users is secured through a customized and open-source implementation of the protocol known as the zero-knowledge succinct non-interactive argument of knowledge (zk-SNARKs) Sapling.
- Handshake – a decentralized and permissionless mining protocol where every peer is validating and in charge of managing the root DNS naming zone. The goal here is to create an alternative to the existing Certificate Authorities and naming systems.
- SushiSwap – this is essentially an automated market maker (AMM) and decentralized exchange (DEX) e which went live on Flux, where users got the ability to swap, earn, stack yields, lend, borrow, and leverage all from within as a single, decentralized and community-driven platform.
Note that these were just some examples and that the Flux ecosystem is vast.
The Future of Flux
Flux as a network features numerous use cases, such as purchasing resources, collateralizing nodes, and fueling all transactions on top of the FluxOS.
The objective of Flux is to empower anyone to develop, deploy and even use Web3. It is likely that as the ecosystem grows, Flux will see a far higher level of utility.
There are numerous active partnerships with other blockchain projects, businesses, as well as application developers, and the community-driven project will likely not stop with its momentum anytime soon.