What is Flux (FLUX)?

The Flux network is a system that allows its users to enjoy a wide ecosystem of blockchain as a product to create solutions to problems that have been discovered in the new generation of cryptocurrencies. The solutions provided by the network are essentially a decentralized version of the software as a service, while also incorporating infrastructural developments composed of blockchain technologies as a service suite on the platform.

The Flux network was designed to provide developers on the platform, as well as users on the network with an easy-to-use decentralized platform that allows them to easily build Defi applications and also release these decentralized products online via web 3.0. Platform. The network also operates on an economic protocol that facilitates the growth of the network, while it also impedes people with harmful motives from launching attacks via a procedure that locks the collateral of the nodes.


Who are the Founders of Flux (FLUX)?

The Flux network was launched on January 31st, 2018, and based on its design process, it was created to provide a series of blockchain-based solutions. Additionally, it also focused on the provision of computing services that are supported on the singularly dedicated development engine. As such, there is a provision of a major alternative to similar services in the decentralized industry. 

The Flux network was co-founded by two developers Jasper De Gooijer and Peter Mitchell. The pair started developing solutions separately in the world of cryptocurrency back in 2017, before starting the Flux network. For Jasper, his journey in the world of blockchain technology started while he worked on proof-of-concept systems for several major Dutch companies before he transitioned into the Plasma research system. Peter, on the other hand, established the EveryDapp.com platform, which was designed to rank and curate centralized apps.

Peter and Jasper met in Berlin back in 2018 at ETH, and shortly after, they began working on their first project which was a derivative application on startups. The application was built via the Augu, Ethereum, 0x protocol, and the Maker blockchains. While they worked on this application, they discovered some of the major problems in the performances of the Ethereum and Augur networks which led to the creation of the Flux Protocol.


What is Flux (FLUX) used for?

The Flux network, given that it provides a collection of decentralized computing services through its suites, also provides additional blockchain-as-a-service (BCaaS) solutions. Its ecosystem allows its users to enjoy optimal interoperability, while also giving them a decentralized, AWS-like environment for the development of their dedicated services. The network can achieve its feet through its native Proof-of-Work coin system which powers the entire network. The dedicated token also provides an avenue for hardware hosters to get incentives, mitigate harmful users, and partake in the decision-making process through on-chain governance. All of these advantages are earned when the stipulated staking requirements for running the hardware have been met.

While these advantages are enjoyed, the token is also valuable after the Flux network and as such, it can be exchanged with other cryptocurrency pairs, which opens FLUX holders to the opportunity of earning profits through trading.


What Is the Unique Point of Flux (FLUX)?

Even though the crypto industry has developed to have over a trillion-dollar market value, and in the thousands of projects that have been released this year, there are only a few that can be considered to truly contain an innovative model to solve real-life problems.

In the grand scheme of things, if this is repeated, it can have a negative effect on the adoption rate of new cryptocurrencies that truly possess innovative applications in real-world situations such as the provision made by the Flux network.

The Flux network makes provision for important infrastructures, it also makes the tools needed for the deployment of the solutions it promises through its protocol. As such, the network can significantly improve the use and application of blockchain technology and impact millions of users positively all over the world. The Flux network has a series of use cases and resources which are offered by its dedicated cryptocurrency and as such serve as a catalyst that upholds the value of the system. The operation of the Flux ecosystem is based on the provisions of two main tools, FluxOS and FluxNodes. The FluxOS is the specialized operating system by which users can access the app hosting and storage facilities provided by the Flux network. FluxNodes, on the other hand, are the background protocols that keep the apps and other tools perpetually running. Users who hold FLUX tokens can choose to be a FluxNode and serve the purpose of supplying servers and data that facilitate the operation of the apps


How many Flux (FLUX) coins are in circulation?

The Flux system is an open-source platform that operates on a protocol that focuses on Independent and community-driven projects which do not allow for outside investments. As a result of this, the distribution of $Flux is fairly dispersed. The system also did not have any pre-mined token and neither was a distribution for individuals other than token holders, nodes and miners held. According to its team, the project is completely focused on the development of a truly decentralized platform by remaining independent and continuously developing innovative means to improve blockchain technology.

The Flux network has a maximum supply of 440,000,000 FLUX coins, of which its circulating supply is 221,549,892 FLUX coins.


Is the Flux (FLUX) Network secured?

The Flux ecosystem is made up of several blockchains which include the Ethereum, 0x protocol, Augu, and the Maker networks. As such, the system is secured through efforts from all of these blockchains. Additionally, the system also provides an avenue where the users of the platform can ensure that the network is protected.

The Flux platform has a dedicated GPU and a mineable POW (Proof of Work) system which provides incentives for members of the network who hold its dedicated tokens. These members are also incentivized to protect the network by its staking requirements which help them identify and mitigate malicious individuals on the network.


How do I buy Flux (FLUX)?

Flux as an ecosystem is in the business of providing crypto-based solutions to ensure smoother and more scalable operations in the blockchain industry. As a result of this, it has become more mainstream leading to several people adopting its use. Now it’s available across several blockchains and can be easily purchased by the following steps.

     you will need to create an account with the crypto trading platform. ,

     Next, you will need to transfer a specific amount of fiat money to your crypto account through the funding options.

     Lastly, the transaction must be confirmed before you can go on to buy your FLUX tokens.



Which Cryptocurrency Wallet Supports Flux (FLUX)?

The PTPWallet platform supports many cryptocurrencies simultaneously such as Flux (FLUX). Because of its vast use case, it has grown to become one of the most used platforms as it serves as an exchange and an engine to discover other cryptocurrencies. Additionally, users can easily use PTPWallet as their FLUX wallet because it offers a simple and interactive interface making it easy for people to navigate its system.


More to explore

Get on the VIP list!

Get company and PTPWallet updates and news sent straight to your inbox. No spam. Unsubscribe at any time. 

Get on the VIP list!

Get company and PTPWallet updates and news sent straight to your inbox. No spam. Unsubscribe at any time.