Flux Network (FLUX) is an innovative blockchain platform that enables information processing with a cohesive working system similar to that of Amazon Web Services (AWS).
The ecosystem is powered by the FLUX token, which works in sync with the FluxOS cloud network, and has a blockchain-based self-storage application.
Today, we will discuss everything that you need to know about Flux, how it works, what purpose the FLUX token serves in the ecosystem, where to buy FLUX, and conclude by determining whether it is a legitimate cryptocurrency project.
What is the Flux Network?
Flux Network is a blockchain platform that is a combination of protocols and parties working together to offer innovative solutions to real-world problems efficiently and sustainably.
It allows developers to create decentralized applications (DApps), facilitates secure asset transfers, has low transaction costs, has an energy-efficient design, is interoperable with other blockchain networks, and employs a unique consensus mechanism.
The protocol aims to build a truly decentralized internet, and this is made possible by hosting the FluxNodes and miners who use the FluxOS computational network to offer an easy-to-development playground for Web3 developers.
How Does It Work?
At the heart of the Flux Network is the FluxOS, which is a distributed chain-agnostic computational system for developers to deploy DApps.
The fully open-source protocol assures developers that their programs will be live and operational at all times.
This is because a global network of FluxNodes, each of which holds a replica of an application deployed on Flux, is responsible for powering up the network and applications.
This way, even if one or multiple nodes went offline for some reason, the activity and operations of DApps would be unaffected.
Using FluxOS, developers can design and deploy decentralized applications from anywhere in the world via an API and UI.
Meanwhile, FluxNodes are responsible for running and maintaining the Flux OS ecosystem. Flux’s open-source nature allows anyone to run a node on the blockchain.
However, running FluxNode does require enterprise-grade hardware with a high uptime obligation.
Nodes are incentivized for securing the network and there are collateral requirements to become a FluxNode, which depends on the type of node one wishes to operate.
There are three tiers of FluxNodes – Cumulus, Nimbus, and Stratus – each with different requirements and FLUX token rewards, and they all operate using Flux’s innovative proof-of-work algorithm called FluxHash. This is an application-specific integrated circuit (ASIC) resistant mechanism.
This makes Flux more appealing to graphic processing unit (GPU) miners, resulting in facilitating a more equitable mining pool with no risk to decentralization.
Flux also offers cloud mining services. Users can rent computing power from remote data centers to mine various cryptocurrencies without needing the technical expertise or infrastructure required for traditional mining. The cloud mining contracts can be purchased using FLUX.
What is the FLUX Token?
FLUX is the native utility token of the Flux ecosystem. It facilitates seamless exchange of information and acts as the primary incentive for operating a FluxNode.
Flux can be acquired through GPU mining, bought through cryptocurrency exchanges, and given as a reward for operating nodes.
The tokenomics of FLUX is designed with a focus on user ownership and participation.
The token allocation is structured as follows: 94.7% is owned by users, 2.9% is held by the Flux Foundation, 1.5% for accessibility and market availability, and the Flux team holds 0.7% of the token’s supply.
The block reward in FLUX is evenly split at 50% between PoW miners and 50% for FluxNode operators.
FLUX Price Prediction: 2024, 2025, and 2030
At the time of writing, FLUX is trading at $0.8498 – down 0.6% in the last 24 hours.
FLUX is forecasted to trade between a price range of $0.864087 and $5.64 this year. If Flux manages to reach the upper price target, its value could increase by 560.89%.
As per the FLUX price prediction, Flux Network’s native token is predicted to trade within a price range of $0.864087 and $5.64 next year.
In 2030, the Flux token is expected to trade between $1.891702 and $4.79. If FLUX manages to reach the upper price target, it will gain 460% over its current valuation.
Where To Buy FLUX Token?
FLUX can be traded on the following cryptocurrency exchanges:
Is Flux Network A Good Crypto Investment?
The Flux Network is a highly scalable, interoperable, and secure blockchain protocol with a high transaction throughput.
The developer-friendly DApp platform, which originated as a fork of ZCash, inherits the security and performance enhancements for developers made by the Zcash team.
FLUX token serves as the native utility token for transactions within the network. While the platform accepts major cryptocurrencies, users who purchase distributed computing power on the blockchain using FLUX can enjoy several benefits.
One major advantage Flux Network has over its rivals is that anyone with the required resources is allowed to run a node to secure the blockchain and validate transactions on it.
All things considered, I can safely assume that the Flux Network is a credible PoW cryptocurrency project that aims to solve real-world networking issues on the blockchain.
However, as is the case with every other cryptocurrency, FLUX can also be susceptible to market volatility. Therefore, it is crucial to do your due diligence before investing in the cryptocurrency.
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