I noticed awhile back that my Alt's Twitter feed started becoming inundated with tweets about the Flux blockchain. Which got me wondering... Why? Did I see or read something about FLUX and rage-drunk follow a bunch of accounts? Did I accidentally take too much medicine for that backiotomy? I mean... I guess it wouldn't be completely out of character, but I have a general rule about social media, texting, phone calls, and any other type of electronic communication that excludes altered-state Buss from participating. After checking my followings (and browsing history) it appears my Alt did in fact have a tete-a-tete with Flux, and with so much sober exposure since I decided I should probably find out what it was that intoxicated Buss found intriguing.
WTFlux is FLUX?
With a mainnet launch in 2018, Flux bills itself as a decentralized computing network that uses a custom GPU minable and ASIC resistant PoW Equihash-based algorithm called Fluxhash. "Flux started life as “Zelcash”, or simply “Zel” [which] was rebranded to the Flux nomenclature March 27th, 2021." So what is FLUX?
...A suite of decentralized computing services and blockchain-as-a-service solutions which offer an interoperable, decentralized, AWS-like development environment. Flux utilizes a native POW (Proof of Work) coin to power this ecosystem, providing incentive for hardware hosters, governance on-chain, and bad actor mitigation via staking requirements for running hardware. The Flux operating system runs on top of Linux to provide the network with verified and benchmarked high-availability compute power and utilizes the blockchain to ensure transparency in governance operations.
Okay, so now I see why alt-Buss was initially attracted... because I/we are an IT nerd and the 'AWS-like DE' verbiage caught his/our eye. I'm going to stop writing in third person now, because it is starting to annoy me and I am beginning to feel like a pronoun person.
What problem are they trying to solve?
This is an important question I ask when looking at crypto and/or businesses to invest in or start. Flux wants to provide critical infrastructure through its Flux Nodes, industry experience, and development tools to assist blockchain roll-out solutions. Much in the way that Cosmos (ATOM) or Polkadot (DOT) are building development ecosystems, Flux is taking it a step further and offering infrastructure solutions as a piece of their network.
Is their infrastructure actually usable?
There are multiple blockchains that use the decentralized file cloud model in a poor manner. They are generally high latency, low storage limit, lower bandwidth options. Contrarily on the surface, Flux appears to have fixed this issue as it's requirements to operate a Flux Node are quite stringent. There are three minimum options for node operators, see the graphic below.
Without actually using FLUX I can't speak to its efficacy, but they have over 1700 active nodes that include the following network attributes: 8,400 CPU cores, 25 TB of RAM, and 880 TB of storage space and new nodes are being added daily. They have seen network growth of over 25% since May 1, 2021.
What is Running on Flux?
Kadena nodes
Presearch nodes
Dropalo Messaging platform
CoinRequest - payment solutions
ZelCore- native wallet
Wyre- crypto to fiat conversion
Rosetta API nodes
ZelID- decentralized 2FA
Buidling
Flux just finished up their 20in20 program where they added 20 dApps in 20 days (July 1-21) to their network. They added xDao, multiple blockchain games, a Minecraft server, full Firo nodes, and a host of other projects.
Back in June they added Kadena (KDA) network hosting services to allow interchain operability.
There is a call for developers to innovate on Flux and receive up to $100K+ grant.
Extremely significant was their implementation of Coinbase-Rosetta API nodes to the network back in late May. They also have seen their Coinbase listing application move from submitted to review status within the past 48 hours. This will most likely see a short term bump in price action.
With the release of XDAO this month, DeFi is officially on the plate for the Flux network later this year. They plan to bring DeFi lending and Yield farming functionality by Q4 2021.
Also coming soon is a NFT gateway/functionality for their ZelCore wallet
Tokenomics
The Flux coin is a Zcash forked PoW cryptocurrency that acts as a utility asset for governance, onboarding, transactions, and incentives for mining/node operation. The total coin supply is 440M with 181M in circulation. It has a current MC of $28M so this is definitely a microcap.
Additional SPECs:
Privacy Protocol: zkSNARKs
Block Reward: 75 FLUX (50% POW / 50% FluxNodes)
Block Time: 120 seconds (2min)
Halving: every 2.5 years
Where is it currently listed?
Conclusion
I'm glad my alter-ego found this one, because this microcap is definitely interesting. It checks a lot of boxes off for me that I like to see. I will most likely keep watching it develop but I haven't decided yet if I will put it in my buy pile.
Let me know your thoughts in the comments. If you are currently a miner or node operator I would love to hear your experience with Flux. As always, thank you for reading!
Authors Note: I do not own FLUX; I do own positions in ATOM and Polkadot. I have written previously about Kadena. Article updated 25AUG2021; originally published 22July2021 on publish0x.com .
good massage.