Flux (FLUX)
A Decentralized Cloud Computing Network on Flux.- Flux is a decentralized cloud computing network on the Flux blockchain, which utilizes Proof-of-work (PoW) consensus mechanism. Within the Flux ecosystem, users are able to operate nodes to mine FLUX tokens rewards, purchase computational resources, and pay for network fees.
- FLUX is the native token of the project. The current use cases for FLUX includes:
- Proof-of-work mining: Users running Flux nodes can mine for FLUX tokens by participating in the proof-of-work (PoW) consensus mechanism to secure the Flux network.
- Node collateral: Users will have to lock FLUX tokens for running Flux nodes, this is done to mitigate any bad actors.
- Payment currency: Users can use FLUX tokens to pay for Flux network services (i.e. hosting applications on the Flux network) and cross-chain bridge fees.
- Governance: Flux node operators can participate in the governance of Flux. Votes are based on the number of locked FLUX tokens in each operator’s node.
- The project consists of the following major components working in conjunction:
- FluxNodes: Decentralized computational network nodes that supply dedicated computing power, and generate rewards in Flux for powering the network.
- FluxOS: FluxOS is a second-layer operating application that allows users to run on Flux’s fully decentralized computational network. Once deployed, FluxOS ensures all nodes are running properly and communicating throughout the network.
- XDAO: Flux governance is managed by a decentralized community that can submit and vote on proposals for the future of Flux.
- Fusion: The Fusion app will allow users to swap and bridge FLUX tokens between different chains.
- As at December 10th 2021, the maximum and total token supply of FLUX are 440,000,000 and 220,347,380 respectively. The current circulating supply is 221,186,405 (~50.27% of the maximum token supply).