What exactly is Flux cryptocurrency and how does it operate?
Flux serves as the core cryptocurrency for the Flux ecosystem, offering various functionalities. It's used for buying resources, securing nodes as collateral, enabling transactions on FluxOS, and rewarding both miners and FluxNode operators for their computing contributions.
The Flux ecosystem is centered around equipping individuals to create, deploy, and utilize the decentralized web of the future, known as Web3.
Currently, the Flux ecosystem includes: a native, mineable Proof of Work (POW) cryptocurrency ($FLUX), a robust decentralized computing network (FluxNodes), a Linux-based operating system (FluxOS), the leading digital asset platform (Zelcore), FluxEdge (a platform for decentralized GPU rentals), and the Flux blockchain, which supports on-chain governance, economics, and parallel assets for blockchain interoperability and DeFi access.
As of 2024, Flux boasts a computational network of about 13,500 decentralized nodes globally, featuring over 107,000 CPU cores, 270 terabytes of RAM, and more than 7 petabytes of storage, making FluxCloud the largest decentralized network worldwide!
What sets Flux apart from others?
Decentralization is a key component of FluxCloud. Many projects label themselves as "Web3," yet they rely on centralized infrastructure, leaving them vulnerable to single points of failure when centralized data centers face outages. Flux, however, is truly decentralized, offering Web3 infrastructure with no single point of failure and ensuring 100% uptime.
Flux is pioneering the Proof of Useful Work (PoUW) concept via its FluxEdge platform, which has the potential to transform both the crypto and traditional industries. As one of Flux's boldest initiatives, FluxEdge aims to reshape how Proof of Work (PoW) blockchains function while tackling sustainability issues often cited by critics.
Instead of solving arbitrary tasks like traditional PoW systems, Flux directs its GPU miners' vast computational power towards real-world problems, such as video encoding, weather forecasting, machine learning research, and scaling AI solutions.
Learn more about FluxEdge, which is now publicly accessible, by visiting https://fluxedge.ai.
What are parallel assets within the Flux ecosystem?
Parallel assets function like token bridges, enabling asset transfers between different blockchains. They integrate with various applications, including decentralized finance on the Flux network, reducing the risk of applications being restricted to Flux. This allows project developers using Flux to retain their blockchain's uniqueness while leveraging the necessary infrastructure in the Flux ecosystem. With FluxOS, parallel assets enhance interoperability, allowing developers to run any application across any blockchain due to the software’s cross-compatibility. Another benefit of Flux parallel assets is the opportunity for arbitrage trading, as traders can identify price disparities across different DEXs and quickly swap native Flux for parallel assets. This can be done swiftly through 'Fusion' integrated into the Flux wallet Zelcore: https://zelcore.io/.
In April 2021, Flux introduced its first parallel asset, Flux-Kadena, marking an important milestone. This was quickly followed by Flux-ETH and Flux-BSC, extending reach to Ethereum and Binance Smart Chain. By the third quarter of 2021, Flux-Sol and Flux-Tron were distributed to native Flux holders, further expanding the ecosystem. Flux-Avax and Flux-Ergo followed in 2023, continuing this expansion. Recently, Flux-Polygon and Flux-Base were distributed to the community via the Zelcore wallet. Looking forward, the Flux team is preparing for the much-awaited launch of the Flux-BTC parallel asset.
How is the FLUX supply, allocation, and distribution structured?
The total supply of FLUX is capped at 440 million. These coins can exist on any parallel asset chain or the native Flux chain, moving freely between them. Although the circulating supply is spread across multiple chains, the maximum supply remains fixed at 440 million. As of 2024, the circulating supply is 372,463,109 FLUX, with 114,940,000 FLUX locked within Flux nodes.
Since its inception, Flux has been mined using GPUs, and no ICO, IEO, or pre-sale has been conducted.
FLUX Token Allocation:
- 94.7% owned by users
- 2.9% held by the Flux Foundation
- 1.7% allocated for exchange listing and liquidity
- 0.7% reserved for the Flux Team
The block reward is divided equally, with 50% going to POW and 50% to FluxNode operators. A mining block currently offers a reward of 37.5 Flux, which is also allocated to node operators in a deterministic round-robin system. This method splits rewards among three node tiers, ensuring a fair, transparent, and predictable distribution as the queue lengthens with more nodes joining a tier. Both miners and node operators benefit from additional rewards through parallel mining, which involves distributing Flux parallel assets, effectively doubling the block rewards.
Who operates the nodes in the Flux network?
Flux nodes are decentralized and operated by users worldwide. Operators have the option to either set up their nodes on personal hardware or use a VPS. Additionally, community node providers like Hostnodes and GoldieTech nodes offer home-hosted nodes on their own hardware. With nearly 13,500 nodes, Flux ranks as the largest decentralized network globally.
In collaboration with partners Lumen Technologies and OVHcloud, Flux aims to bridge the gap between traditional infrastructure and Web3. This partnership enables a truly unique Web3 experience, leveraging a spectrum of infrastructure from home-based Nvidia Jetson edge computing to Enterprise-level Lumen infrastructure with adaptive networking and security solutions. The Titan program invites everyone to contribute to deploying enterprise-grade infrastructure for the Flux network, providing an easy pathway to support Web3 without requiring technical expertise.
What are the different Node Tiers in Flux?
Flux categorizes its nodes into three tiers:
1. Cumulus: Requires 1000 $FLUX
2. Nimbus: Requires 12,500 $FLUX
3. Stratus: Requires 40,000 $FLUX
This collateral is not locked and remains the property of users, who can remove their node and sell their collateral at any time. The current rewards for operating a node can be viewed on the FLUX dashboard at www.home.runonflux.com.
Flux also offers Titan on-chain staking. Titan nodes are powerful Stratus-tier Flux nodes run by seasoned operators using Lumen Technologies infrastructure, providing attractive hosting solutions for enterprise clients. To ensure decentralization, community providers also support Titan by setting up servers. Participation requires a minimum of 50 Flux in the official Zelcore wallet as Titan collateral. Through Zelcore, participants can lock their Flux for 3, 6, or 12 months and join a shared Titan node on the FluxOS marketplace. After the staking period, collateral and rewards are unlocked, with the option to auto-renew and compound stakes and rewards.
Get started here: https://titan.runonflux.io/.
Interested in running a Flux node? Visit https://runonflux.com/nodes for more details.
Who are the co-founders of Flux?
Flux was co-founded by three individuals. Daniel Keller, based in the USA, is a Co-Founder and serves as the Chief Strategy Officer. With over 25 years of experience in technology infrastructure and operations, he excels in leading large-scale projects and fostering effective communication across organizations. Tadeas Kmenta, the second Co-Founder, has been involved since the project's start and now works as the Chief Innovations Officer, focusing on developing new technologies within Flux and FluxOS. The third Co-Founder is Parker Honeyman, the Chief Operations Officer, who brings technical expertise and proven development practices to the endeavor.
Where can one purchase Flux (FLUX)?
FLUX can be acquired on various cryptocurrency exchanges, depending on your location. For the latest exchange listings and trading pairs for FLUX, check our Flux market pairs tab.
FLUX is accessible on numerous leading exchanges, including Binance, BinanceUS, Crypto.com, Gate.io, KuCoin, and others. Alternatively, you can use the exchange rate converter page. Common FLUX trading pairs include FLUX/USD and FLUX/EUR.
