Flux - Empowering the People of the Internet
In this interview Vestorportal talked with Alžběta Kolibačová. She gave us really interesting answers and insights about Flux.
In this week's Vestorportal Spotlight we got the chance to talk to Alžběta Kolibačová about Flux. As she is the CMO over at Flux, Alžběta was able to share some interesting insights.
Enjoy the read!
What is Flux?
Flux is an entire ecosystem devoted to empowering the people of the internet to develop, deploy and use the decentralized internet of the future, the Web 3.0.
At this moment the Flux ecosystem consists of: A native, minable POW cryptocurrency ($FLUX), a powerful decentralized computational network (FluxNodes), a Linux based operating system (FluxOS), the premier digital asset platform (Zelcore), and finally the Flux blockchain for on-chain governance, economics, and parallel assets to provide interoperability with other blockchains and DeFi access.
Currently Flux has a computational network consisting of around 12,000 real decentralized nodes globally with more than 82,500 CPU cores, 253 terabytes of RAM and 5,600 terabytes of storage. The network is fully operational hosting over 4000+ dapps and continues to deploy many decentralized projects and developing active partnerships with blockchain projects, businesses and app developers.
Flux is and will always be an independent, community-driven and open-source project.
How did the team come up with the idea to build Flux?
Before our rebranding more than a year ago Flux was Zelcash and Zelcash was born into the hot bull market of 2018 and we had a vision to do something different and unique. Right around that time there were some deplatformings, people were removed from different platforms and we knew that something had to be done.
The team agreed that we wanted to work on a decentralized compute network, and that’s called Web3 today. That’s really how the project was born, addressing a massive issue in the current tech world - centralization.
How big is the team building Flux?
Flux has 3 co-founders. Daniel Keller is a co-founder and Chief Strategy Officer of Flux. This technologically astute leader brings twenty-five years+ of broad experience in technology infrastructure, operations, workflow analysis, and large scale project leadership.
Then there is Tadeas Kmenta who has been developing the project since its inception (4,5 years) and currently he is the Chief Innovations Officer focusing on new and emerging technology developed on Flux and FluxOS.
Third Co-Founder is Parker Honeyman, Chief Operations Officer, engineer with experience in project management.
Flux is a community project and has some highly motivated and highly talented people all across the globe working on it. Developers are expanding and growing the ecosystem, Flux has more than 50 developers at this point and the whole team is growing exponentially.
Who are important partners of Flux and how do these partnerships help the ecosystem?
We are extremely proud to be a part of Nvidia’s Inception program! I believe Flux is the only blockchain project there. Flux will be able to evolve faster through access to NVIDIA’s cutting-edge technology and experts, networking events, and co-marketing support.
We’ve partnered with Seeed Studio that develops hardware for home-hosted Flux nodes.
Recently we announced a partnership with Lumen Technologies (Fortune 500 Company) and we will work together to increase the adoption of Web3 and the underlying next-gen technologies by creating an attractive technological platform for enterprise clients.
We are also thrilled to be working with the University of Applied Sciences in Geneva, Switzerland on PoUW use case buildout.
We’ve partnered with many blockchain projects as well such as Kadena, Kaddex, Presearch…
What are the incentives to hold FLUX?
Firstly Flux is an utility asset, fully decentralized Web3 infrastructure, the future of the internet, and no one can dump on you in the Flux project. Secondly there are many ways of making the most of your FLUX.
Every time Flux introduces a new parallel asset there is an airdrop of the new tokens for just holding Flux in Zelcore wallet or staking Flux on Coinmetro. Then you can run a Flux node!
We have 3 tiers of nodes – Cumulus requires 1000 FLUX, Nimbus 12500 Flux and Stratus 40000 Flux. This collateral isn’t locked and belongs to you, you can delete the node and sell collateral whenever you want.
As I mentioned there is Flux staking on Coinmetro, that’s a simple way to earn while sleeping or you can be a Flux miner. Thanks to parallel mining it is very profitable
Also we are going to launch project Titan soon! This is an on-chain staking where anyone can participate on building our decentralized network with just 50 Flux.
What is the Parallel Mining and how does it work?
Flux is creating ten parallel Flux assets on ten other blockchains that will be interchangeable with the main Flux chain. This provides Flux holders with easy access to all major DeFi platforms.
The initial supply of a parallel asset is distributed to Flux holders via an airdrop as the parallel assets are launched. 5 parallel assets have been launched and distributed so far. PAs are also distributed through parallel mining and as rewards for Flux node operators.
Parallel mining rewards GPU miners not only with native Flux but also with parallel assets. Miners receive parallel assets in a 1:10 ratio for each of the 10 parallel assets, even the ones not launched yet. This effectively doubles the mining yield of Flux.
What is the XDAO?
It is a decentralized autonomous organization. Anyone can submit a proposal for the future of Flux and Flux node operators are able to vote whether the proposal is accepted or rejected. Community governance is a cornerstone of decentralization.
What is Zelcore?
Zelcore is our official non-custodial wallet. It’s a secure and unique cryptocurrency wallet protecting your assets by decentralized two factor authentication with built-in exchanges. Zelcore doesn’t store or transmit any personal data or recovery seeds and gives the users full control over their account and private keys.
Zelcore is a part of the Flux ecosystem. Flux node operators run their nodes inside it and via Fusion app Flux can “travel” back and forth to 5 (soon 7) other blockchains. Fusion is the bridge between native Flux and parallel assets.
What makes Flux unique?
Flux isn’t an average blockchain. There is no other like it. Flux is different from most other blockchains in all the right ways. Flux is fairly GPU mined since day one, decentralized by birth such as bitcoin. It has strong fundamentals, a fully deployed and live product, targets a growing global cloud computing market, has fair and sustainable tokenomics and it strives to make blockchain and technology better and leave a legacy for everyone to benefit from.
How would you describe the core values of Flux and its team?
Flux is at its heart about decentralization, it’s building on the ideology of the bitcoin founder Satoshi Nakamoto and aims to support and build a decentralized future. The Flux team has highly motivated people to achieve a decentralized future of the internet. We say it’s built by the people, for the people.
Where do you see Web 3.0 and Flux going in the following years?
The most exciting goal of this year is to implement Proof of Useful Work. We aim to be the first eco-friendly blockchain in space. But we’re not building this for us, we’re building this for all blockchain projects. In the following years we will see some hybrid symbiotic between Web2 and Web3 and Flux will be the one that is pioneering it.