TLDR: Once we had an AMA with Flux guys, you can enjoy that session's result here. There you'll find the most interesting questions about the project, and we'll get the opportunity to learn more.
The Flux Network ($FLUX) merges a decentralized cloud computing platform with cross-chain oracle capabilities. The project aims to provide a trustless data layer to web 3.0 applications.
Flux's cloud infrastructure is the new generation of decentralization. It empowers you to develop, manage, and build your apps on various servers at once. It's fully ready for the Web3.0 era and decentralized applications (DApps). But is that all? Of course, not.
What Is Flux?
The Flux Network ($FLUX) merges a decentralized cloud computing platform with cross-chain capabilities. The project aims to provide a trustless data layer to web 3.0 applications. The network introduces a tailored blockchain and an adaptable utility token $FLUX to the market to achieve these tasks.
The mentioned structure makes Flux resistant to system failures as all data is kept in redundancy. It also removes censorship issues as there are no 3rd parties to block or confiscate your transactions
The Flux network is hosting over 4000+ dapps and continues to roll out multiple decentralized projects and interact with blockchain projects, businesses, and app developers.
Flux is and will always be an independent, community-driven, and open-source project.
FluxOS is at the core of the ecosystem, and it’s a distributed chain-agnostic computational system for developers to roll out decentralized applications (dApps). FluxOS is a fully open-source protocol empowering developers to have their dApps live and operational at all times. This is possible thanks to FluxNodes, each holding an application copy that is in charge of powering the network and applications. So, activity and operations on dApps would still run if one or any nodes went offline.
FluxOS is a truly cross-functional creature, allowing developers to “run any app on any chain on FluxOS.” Above all, by using “dockerization” for releasing applications, developers don’t need to use any new programming languages. Developers can docker centralized applications to effortlessly move them onto the decentralized Web3 internet. Using FluxOS, developers can design, deploy, and manage globally decentralized applications (dApps) with an API (application programming interface) and UI (user interface). FluxOS considered backend blockchain requirements, empowering developers to concentrate on the user-centric frontend aspects of their dApps.
With the FluxOS platform, network participants can easily interact with applications worldwide, vote in the Flux network decentralized autonomous organization (DAO), and view resources and rewards.
FluxNodes take care of the FluxOS network maintenance. As the project is an open-source one, anyone has the opportunity to run a FluxNode. Still, running a FluxNode surely requires high-quality hardware with a high uptime obligation. To make a secure network, there are collateral requirements for becoming a FluxNode. They vary depending upon the node’s type one wants to operate. All this generates a truly global network of like-minded Flux enthusiasts providing computational resources to the Flux network using innovative security mechanisms.
There are three tiers of FluxNodes, and they all run using Flux’s innovative proof-of-work (PoW) hashing algorithm called “ZelHash (or formally Equihash 125.4).” The result is an application-specific integrated circuit (ASIC)-resistant mechanism. This means that Flux is more appealing to graphics processing unit (GPU) miners, facilitating a more equitable mining pool with no risk of decentralization.
FLUX miners can choose from three types of FluxNodes, each having different requirements and FLUX token rewards. They are Cumulus, Nimbus, and Stratus:Cumulus has the least demands, with 1K FLUX as collateral with a minimum of 2 vCore, 4 GB RAM, and 50 GB HDD/SSD hardware requirements. Cumulus miners get 7.5% of the total FLUX block rewards.
- Nimbus requires higher collateral of 12, 500 FLUX and hardware demands such as ; thus, users get a higher block reward of 12.5%.
- Stratus, as a matter of logic, has even higher demands. Miners must collateralize a minimum of 40,000 FLUX tokens operating hardware with at least 8 vCore and 32 GB RAM. Stratus miners get 30% of the FLUX block rewards or 22.5 FLUX tokens per block.
You can calculate a mining profit with a special calculator such as FLUX mining calculator - Equihash(125,4) ⛏️ | minerstat, Flux (FLUX) Mining Profit Calculator - WhatToMine, and alike.
As for today, Flux launched Titan on-chain staking. It’s a powerful Stratus tier Flux Node operated by experienced Flux node operators. The Titan nodes leverage Lumen Technologies infrastructure to create attractive and powerful hosting solutions for Enterprise clients. To keep things decentralized, community providers have stepped up and stood up servers for Titan as well. You must have 50 Flux in the official Zelcore wallet for the minimum Titan collateral.
Want to run a Flux node? Visit Flux official website and start running a node!
The Flux GPU miners get 50% of the block rewards, as they are responsible for processing and verifying transactions throughout the Flux ecosystem and supply valuable computational resources to the Flux network.
Flux miners can choose a mining pool to participate in. It includes native pools by the Flux blockchain community and mining pools created by supportive third-party teams. Today, the following pools are available: the Flux Community Pool, Solo Pool, Zergpool, NLPool, etc.
Flux Network – XDAO
To guarantee a true decentralization of the Flux network and a decentralized internet, the governance of the project relies on the members of the Flux governance (XDAO) decentralized autonomous organization (DAO). To participate in XDAO, members must have a certain amount of FLUX tokens. Users can access the Flux governance XDAO through an official website.
Here, users can see the Flux network proposals, whether open, passed, or even rejected. Such information as the submission date, end date, number of required votes, and a breakdown of the result of the votes is publicly available.
Flux ($FLUX) Token
- Ticker: FLUX
- Distribution network: Native, and + 10 Parallel Asset Chains soon
- Token utility: governance, staking, Titan staking, collateral for node operations
- Circulating Supply 257,092,185.70 FLUX
- Max Supply 440,000,000
FLUX Token Allocations:
- 94.7% is owned by users
- 2,9% Flux Foundation
- 1,7% Exchange Listing/Liquidity
- 0,7% Flux Team
FLUX powers the Flux ecosystem and is used for buying resources, nodes collateralization and acts as fuel for making transactions on FluxOS. It’s also used for rewarding miners and FluxNode operators for providing computational resources.
The block reward is divided by 50% POW and 50% to FluxNode operators. The reward for running FluxNode is calculated so that there is a fair ROI, the current reward for a block is 75 $FLUX.
Flux uses its own hashing algorithm, “Zel.” Each verified block on the Flux blockchain produces 75 FLUX. Then, the Flux blockchain spreads these rewards equally between the PoW miners and FluxNodes. The halving event with block rewards on the Flux blockchain takes place every 2.5 years. This enhances the scarcity, demand, and FLUX token value.
The Flux economic model motivates network participants to make the network growth possible and defend it from bad actors attacking through the locking of node collaterals.
The FLUX token is easier to mine than some others, as it only requires 3 gigabytes of GPU RAM. The team’s commitment to leaving the network ASIC resistant complement the GPU mining system. By doing this, the bigger mining operations can’t price out smaller miners from the network, which benefits from more decentralization.
Flux looks like a true solution for Web3.0 internet: it uses a proof-of-work algorithm to secure the network, empowers you to develop, manage, and roll out your applications on various servers at once, and doesn’t have any controlling authorities and relies on users’ contributions.
The following approach makes the protocol more resistant to attacks, eliminates censorship, and offers a more robust and scalable application platform.
Above all, the project governance runs through a community-run Flux governance XDAO, and its members are FLUX token holders. Flux provides a smooth opportunity for current centralized applications to move to the Web3 decentralized internet. As of today, the Flux ecosystem includes a native cryptocurrency $FLUX, a decentralized computational network FluxNodes, an operating system FluxOS based on Linux, a digital asset platform Zelcore, and the Flux blockchain for on-chain governance, economics, and parallel assets to offer an opportunity to interact with other blockchains and DeFi projects.