The Flux Web3 ecosystem is a suite of scalable blockchain as a service (BaaS) solutions and decentralized computing services which offer an open-source alternative to corporate-run cloud computing networks such as Amazon Web Services and Microsoft Azure.
FLUX is the protocol's native cryptocurrency that powers the crypto project's operations.
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What Is FLUX
Flux is a decentralized Web3 blockchain network that offers an interoperable and decentralized development environment. It was launched as ZelCash in 2018 and rebranded to Flux as part of its marketing plan in March 2021.
Flux comprises a suite of scalable blockchain as a service (BaaS) solutions and computing services offering a decentralized environment, benefitting developers and users.
FLUX, the ecosystem's native token, has several use cases. It powers the transactions on the network, serves to reward participants, and enables on-chain governance. Additionally, FLUX allows a decentralized form of two-factor authentication (d2FA).
FLUX has a max supply of 440 million coins. Apart from the Flux protocol, the coin is available on other blockchains, including Kadena, Ethereum, Binance, and Solana.
The FLUX price is volatile. General market trends, supply and demand, ecosystem development, and other factors impact the FLUX price.
The FLUX price reached its all-time high of $4.17 on December 10, 2021, and its lowest price was $0.01698, recorded on November 16, 2020.
FLUX Founders
The Flux ecosystem founder (at the time Zel) is Miles Manley. He first learned about crypto when he was 13 and sold most of his old computer stock to build a small GPU mine. Exploring the crypto sector further, Manley founded Zel in January 2018, at the age of 15.
Advisor Daniel Keller later joined as the project's co-founder and Chief Security Officer. He has extensive experience in Information Technology, Business Administration, Management, and Operations.
How Does FLUX Work
Flux provides critical infrastructure and development tools to help launch new blockchain solutions with enhanced efficiency. With easy-to-use Flux toolkits and simple integrations, developers can easily design, build, and manage decentralized applications (DApps).
The ecosystem comprises the FLUX coin, FluxOs cloud operating system, Flux Nodes, the ZelCore wallet, and XDAO, the network's governing decentralized autonomous organization (DAO).
FLUX coin is based on the Proof-of-Work (PoW) mining technique to power transactions and secure the network. The team is currently building a new eco-friendly mining solution, Proof of Useful Work (PoUW), together with Western Switzerland University of Applied Sciences in Geneva (HES). Instead of solving randomized algorithms, PoUW will solve real-world problems ranging from encoding a video to predicting the weather using Machine Learning. At the same time, the solution is expected to increase the computational network resources of the Flux ecosystem.
FluxOs is the network's operating system, allowing developers to run their applications at a lower cost. FluxOs is open source and runs on top of Linux, one of the most popular software platforms. The system plays an essential role in the management of the protocol, such as launching apps, sidechains, and asset layers. FluxOs handles the deployment of apps, manages resources, balances hardware usage, ensures connectivity, and provides real-time computing metrics. The FluxOs platform enables network participants to interact with global applications, participate in governance via XDAO, and get rewards.
Flux Nodes are responsible for processing transactions and running the FluxOs network. Running a FluxNode requires highly-available, enterprise-grade hardware along with Flux collateral. Anyone, who meets the requirements, can operate a FluxNode.
ZelCore is a multi-asset cryptocurrency wallet and platform that offers custody management for a wide range of cryptos. It also provides trading services and quick swaps across exchanges.
XDAO allows the Flux community to submit and vote on proposals for the future of Flux. Submitting a proposal will require a certain amount of FLUX.
How to Buy FLUX Coin
You can buy FLUX on several crypto exchanges, including Binance, Gate.io, KuCoin, Crypto.com, Bitrue, CoinEx, Hottbit, etc.
Note that crypto investments may lead to financial losses, and decisions are at your own risk.
