Flux could become a platform for future Web 3.0 applications

Flux is fast becoming the hottest hub for Web 3.0 solutions of the future. The crypto industry has grown significantly in recent years, applications based on decentralized platforms have diversified.

After a period of expansion, there is now a concentration on Web 3.0. Together with its ecosystem, Flux aims to become the infrastructure that supports the future of Web 3.0.

What is the stream?

Flux is based on a cloud operating system, the FluxOX, and benefits from the Proof-of-Work consensus. Flux currently ranks 217th in the ranking of top performing cryptocurrencies with a market capitalization of US$413 million.

Users can easily develop, control and scale applications on the Flux platform. This can be done on several servers at the same time, because the ecosystem with its 1,200 nodes worldwide has a cloud infrastructure.

The Flux ecosystem allows users to transact with other blockchains and power their smart contracts with interoperable features.

The cross-chain oracle aggregator enables smart contracts to access economically secure data streams for everything.

The open source community project is independent and does not require external investors. $Flux is evenly distributed and sits at the heart of the ecosystem.

The business model heavily incentivizes holders, GPU miners, and node operators through airdrops, mining, and node rewards. Node operators can earn additional cryptocurrencies through paid partnerships and paid application hosting.

The goal of the project is a sustainable crypto world, where users will be offered a number of benefits. The simple and interoperable development tool can realize a large number of different use cases.

The Flux protocol is entirely governed by the DAO and secured by validators.

What is the Flux ecosystem made up of?

The Flux ecosystem consists of decentralized computing services and blockchain-as-a-service solutions that provide an interoperable, decentralized, AWS-like development environment.

It already hosts decentralized social media solutions like an alternative privacy-focused front-end for Twitter and the Dropalo messaging project.

Its own decentralized cryptocurrency oracle services allow users to access real data on the blockchain, including a wide range of minecraft games, games and servers.

The stream token

The native PoW cryptocurrency is a utility token designed to balance flexibility with carefully crafted incentives.

The $FLX token is capped at 1 billion and distributed to the major participating Flux protocol groups based on their allocation percentages.

This is what the distribution of FLX tokens looks like:

  • 28.8% (or 288,163,296 FLX) to Core Team
  • 2.6% (or 26,750,000) to Flux Protocol Advisors
  • 14.96% (i.e. 149,583,333 FLX) to founding members
  • 8.45% (or 84,500,000 FLX) to strategic contributors
  • 19.10% (or 191,002,751 FLX) to support the protocol in the future
  • 15.00% (or 150,000,000 FLX) for developer mining incentives
  • 5.00% (or 50,000,000 FLX) to an ecosystem fund for growing the developer community
  • 3.00% (or 30,000,000 FLX) for incentives to validate loading liquidity for Oracle Flux
  • 3.00% (or 30,000,000 FLX) for public distribution

The token has the following tasks:

Maintain a whitelist of protocols allowed to create new data requests. To be whitelisted, a protocol must submit a proposal to the DAO with an attached $FLX token bond.

In order to deploy Oracle modules for various use cases, developers must seek approval from the DAO for the type of data request, the economic guarantee staked by validators, and the payment token and amount.

$FLX tokens secure and harden the network and serve as security for nodes for selected data requests and validation. The DAO Feed allows token holders to vote on upgrades and design changes.

What are oracles?

Oracles are smart contracts that enable Web 3.0 by providing the ability to create a variety of tools for stablecoins, derivatives, options, prediction markets, and dynamic NFT.

However, classic smart contracts cannot communicate with the outside world, they rely on external data. Existing oracles bring data from these smart contracts into ecosystems.

Proprietary oracles send data directly to the blockchain via node operators. Data providers are paid to bring on-chain data to power their favorite DeFi protocols and stablecoins.

If this data is inaccurate or manipulated in any way, companies or data providers not only lose their good reputation, but it can also lead to financial losses for users of decentralized exchanges or other DeFi solutions.

What problem does DeFi Flux solve?

With the rapid growth of the DeFi sector, billions of dollars of assets are traded across all platforms. DeFi is not decentralized as it relies on a centralized group of data providers providing their data on-chain.

Flux solves Oracle’s problem by allowing any smart contract to connect to API and crowdsource data. Flux brings this data into the chain using a sophisticated validation mechanism.

This invokes economic principles, where validators are rewarded for honest behavior. For this, the validator must first deposit an economic guarantee in the form of FLX tokens.

It promises that the data is correct and if not, it loses the deposited tokens. Flux says it’s the next generation of finance, with fully decentralized platforms at its core.

Flux plays a central role in Web 3.0

Thanks to its parallel assets, Flux is able to leverage the benefits of multiple blockchains. This includes access to multiple DeFi platforms.

Flux isn’t the only vendor trying to sell a major platform to its users through cloud services and solutions. But Flux is clearly superior to its competitors in many ways.

If we take Ethereum, many projects have major limitations in terms of high transaction fees and low scalability. Nevertheless, Ethereum forecasts are overwhelmingly positive.

The Flux protocol runs on the NEAR blockchain and works with stakeholders who want to build a truly decentralized, user-friendly and scalable ecosystem. The NEAR course is available here.

The secure trading system compensates validators for troubleshooting, and connecting to the Flux SDK only requires three lines of code.

Developers and users can easily move assets and data between Ethereum and Flux via the bridge. Parallel assets make Flux a great platform for the DeFi space.

Taken together, these are the best prerequisites for becoming the future and unique Web 3.0 platform.


Stefanie Herrnberger works as a freelance speaker and writer. His many years of professional experience in Industry 4.0, digitalization and blockchain give him the perfect background to report on the use cases of distributed ledger technology in industry and global business.

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