Flux Crypto Explained: Everything You Need to Know
Flux has been compared to a decentralized version of AWS (Amazon Web Services) and Google Cloud, except rooted in web3 architecture.
The Flux network is powered by the FLUX token and home to a wide range of web3 products, including AI, storage, and an operating system.
Let’s break down Flux, its use cases, and what to expect from Flux in the near future as web3 adoption increases.
What is Flux ?
Flux is a decentralized network that provides infrastructure to developers to create web3 applications. The ecosystem is powered by independent node operators instead of traditional data centres. Flux node operators work similarly to the usual proof-of-stake consensus.
Node operators are able to earn rewards for contributing to the network and keeping its storage capabilities online. The Flux network aims to help developers create decentralized applications without having to rely on big tech.
As a result, Flux has created an open environment for crypto developers to build dApps utilizing cloud storage and services, computational power, and hosting for a fraction of the costs of Google or AWS.
The Flux network was originally named Zelcash before rebranding to Flux in 2021. The Flux mainnet went live in January 2018. The FLUX token is used as a payment method throughout the ecosystem.
FLUX tokens can be used to access web3 services, pay network transaction fees, reward node operators, and more.
Users on Flux apps can use FLUX tokens to acquire computing resources, cloud storage, and take cryptocurrency loans or use them as collateral.
What decentralized applications can be found on FLUX?
The Flux ecosystem is home to a variety of helpful web3 applications that provide services similar to legacy companies at a cheaper, more affordable cost with greater speeds thanks to blockchain DLT technology.
FluxOS
FluxOS is a decentralized operating system that utilizes the FLUX token and Flux nodes to run. With the OS, users can access decentralized applications and power FluxCloud.
FluxAI
FluxAI is a private network for artificial intelligence usage and development. Users can use FluxAI and gain access to a variety of AI-powered tools such as the FluxGPT chatbot and models, image generation, coding assistants, and more.
FluxCloud
FluxCloud provides decentralized cloud storage and computing services, allowing developers to deploy applications, manage websites via WordPress, launch games such as Minecraft via FluxPlay, and store data.
FluxCloud services are cheaper than Google Drive and AWS services, with an 8 vCPU with 100GB storage coming to $8.68 on Flux compared to $617.02 on Google Cloud and $467.20 on Amazon Web Services (AWS).
FluxEdge
With FluxEdge, users can access a decentralized marketplace for computing resources meant for the development of AI or video games, which both need a lot of computational power to develop and run. With FluxEdge, users can acquire more power using FLUX tokens.
The future of Flux
Flux is prepared for the onboarding of consumers on the lookout for decentralized options outside of Google and Amazon at reasonable prices, with more use cases.
The FLUX token reached an all-time high of $3.33 in 2022 and is set to make a strong comeback during this cycle as FLUX gains new use cases and attracts developers with its assortment of developer options.
The market is ripe for the taking, and Flux is at the forefront of decentralized storage, cloud services, and computational power options.
Watch our recent interview with Flux here.
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