Why Flux Is Set To Become The Hub For The Web3 Solutions Of The Future

Since its inception, blockchain technology has seen an explosion in products, projects, and use cases and has managed to attract millions of users. However, the industry is dispersed and seems to have lost focus on the problems it tries to solve.

Innovation still runs deep on the blockchain-based industry within a select group of projects with a deeper understanding and vision on the future of its underlying technology: to become the future of the internet. In that sense, the Flux ecosystem has emerged as a tough competitor to become the infrastructure that will support that future.

This suite of decentralized computing and blockchain-as-a-service (BaSS) solutions with similarities to the Amazon Web Service (AWS) is comprised of its own cloud operating system based on Linux called FluxOS, a Proof-of-Work (PoW) utility cryptocurrency, and enterprise-grade server hardware hosting the Fluxnode network and the entire ecosystem.

Every component on the network operates in perfect harmony to create the right incentives that power the Flux ecosystem, mitigate bad actors from attacking it, provide users with an on-chain governance model, and reward miners, node operators and holders.

The Flux ecosystem is one of those projects with a long-term vision of onboarding new users into the crypto space by providing real solutions, a critical infrastructure that can support it, easy interoperable development tools, and a vast inventory of use cases for the benefits of the users. In that way, the project seeks to usher in a sustainable new wave of crypto adoption.

The Flux Ecosystem And Its Advantages Over Competitors

As mentioned, there are many projects trying to tackle different use cases, many more attempting to become the main platform for cloud services and solutions. On Ethereum, many of these projects face limitations in terms of high transaction fees and low scalability.

Other blockchain-based cloud service providers, such as the recently launched Internet Computer (ICP), have complicated nodes mechanism and requirements that users need to fulfill in order to become a network participant. In addition, they are components in these platforms that seem centralized with their ecosystem relying on single points of failure.

The Flux ecosystem eliminates these tradeoffs with an innovative model that allows any FLUX holder that meets the hardware requirements to participate in the network. These users allow Flux to operate as a completely decentralized platform without a single point of attack as its nodes are distributed around the globe. According to Flux’s whitepaper:

With FluxNodes, the goal has always been to have thousands of potential nodes operating on the network, allowing anyone to participate and solve the scalability issue through available raw processing power.

Flux, The Future Of Cloud Services In The Hands Of The People

Flux has already partnered with prominent names to host and decentralize their infrastructure, a trusted partner is the Kadena blockchain who has a long-running partnership with Flux to deliver their infrastructure, blockchains Firo and Presearch have also partnered with Flux.

In addition, Flux supports many other key players in blockchain by helping decentralize their infrastructure, some examples are Coinbase Rosetta, Polkadot and Kusama nodes running on the Flux network.

The Flux ecosystem already host decentralized social media solutions such as an alternative privacy-focused frontend for Twitter and the Dropalo messaging project; its own decentralized cryptocurrency price oracle services, so users can have access to real-world data on the blockchain; a great selection of games and game servers, such as Minecraft servers; and the ecosystem enables interoperable capabilities for users to transact with other blockchains and power their smart contracts.

Furthermore, the Flux ecosystem is run with aid from its community. As the industry enters an era of institutional participation, many in the crypto space fear that Wall Street and other giants could take over and push their own agendas for the detriment of the users. As a community-driven and open-source project, Flux is fully transparent and focused on community empowerment, major decisions are made by the community using the Flux xDAO (decentralized autonomous organization) governance.

In that sense, Flux has gone to great efforts to consolidate its partnerships with global leaders across multiple sectors and become more and more accessible for corporate adoption. This has been achieved while preserving the principles that support the crypto industry at its inception: for users to a role, a voice, and a word at creating the future of the internet.

 

Image: Pixabay

by NewsBTC on November 29, 2021 at 03:22PM