What is Flux?
The Flux coin, or FLUX, is the official cryptocurrency of the Flux crypto project. The latter is a community-driven platform that provides Blockchain-as-a-Service (BaaS) and cloud computing solutions.
FLUX is a digital utility asset that has several use cases. It serves as a crypto reward for securing the blockchain and powers the ecosystem when onboarding new users. It’s also used for on-chain governance purposes.
When it comes to governance, Flux grants node operators voting rights on the Flux Governance (XDAO) platform. They can cast their vote on whether to accept or reject submitted proposals in addition to submitting their own proposal.
Moreover, FLUX has its own blockchain.
In addition, the Flux coin comes with parallel assets. To put it simply, parallel assets increase the accessibility of the Flux coin, thus, making it more tradable. These parallel assets are interchangeable with the Flux coin on a 1:1 ratio.
Anyone who holds the FLUX token will be able to claim parallel assets on the Fusion dApp.
The coin itself is a ZCash fork. This means that Flux coins are mined using the Proof-of-Work (PoW) consensus mechanism. However, this is where the similarities between ZCash and FLUX end. The team behind Flux has improved the protocol of ZCash to increase the performance and security of Flux coins. Some of these improvements include constant PoW upgrades to ensure ASIC resistance in addition to the integration of the FluxNodes layer.
The Flux coin was initially launched under the name ZEL via a fair launch. This means that there were no pre-mine events and no token allocation or distribution outside of holder, miner, and node operator groups.
Besides major exchanges, FLUX can also be obtained via CPU mining and node operation.
You can have a more in-depth look at the Flux price history, or the current Flux price, on the graph above.
What are the Main Features of Flux?
As discussed in the What is Flux section, the Flux ecosystem offers a blockchain-based suite of products and services related to BaaS and cloud computing. Its infrastructure consists of decentralized computational nodes from all over the world.
Flux is running on the Flux blockchain, which was launched in early 2018. It operates using the PoW consensus algorithm. Node operators who secure the platform have to select 1 out of 3 FluxNodes tiers before running a node: Cumulus, Nimbus, or Stratus. The selected tier is determined by the hardware requirements and collateral in the form of Flux coins. It also defines the block reward received by the node operator.
The Flux ecosystem itself consists of different products and services including:
- FluxOS - a second-layer operating system running on Linux. It enables hardened dockerized apps to operate on the Flux network. FluxOS is hosting over 500 projects, such as infrastructures, nodes, whitepapers, dApps, social platforms, and games, among many more;
- Zelcore - the official wallet of Flux, which is a multi-asset protocol that serves as a self-custodial crypto wallet. It comes with a DEX and CEX integration. Zelcore is available for both desktop and mobile users.
In addition, the FluxOS and Zelcore, the ecosystem also provides a wide range of dApps.
Don't forget to check the FLUX price via the graph above before making any purchase decisions.
Who Developed Flux?
The Flux crypto project was launched by ZelCore Technologies in 2021. Its co-founders are Daniel Keller, Parker Honeyman, and Tadeáš Kmenta.
Prior to Flux, the trio co-founded ZelCore Technologies Inc. - a Web 3.0 platform serving as a gateway to everything blockchain.
Parker Honeyman successfully completed his studies at Santa Clara University where he earned a degree in Mechanical Engineering. After his studies, Honeyman started working as an R&D Engineer at Sadra Medical and later moved up to an Engineering Consultant at JC Medical. At ZelCore Technologies, Honeyman serves as a COO since its inception in 2017.
Tadeáš Kmenta has 8 years of experience in full stack web, app, and blockchain development. He went to CTU Prague and immediately co-founded ZelCore Technologies Inc., where he now works as a CTO.
Daniel Keller has been in the crypto space for over 10 years and has worked in the IT management industry for 25 years. Currently, Keller is taking the role of a CSO.
The core team consists of over 25 individuals coming from diverse professional backgrounds.
The Flux crypto project hasn’t accepted any outside investments, which makes it a completely independent project.
