Flux$FLUX

What is this network?

The Flux network is a decentralized Web3 computational network infrastructure that uses cloud computing to provide blockchain as a service (BaaS) to businesses. It consists of an array of user-controlled, globally scalable nodes, known as FluxNodes, which provide the computational power to support the system. The network is built on the Flux blockchain and includes its native FLUX asset, FluxOS operating network, and FluxNodes. The Flux ecosystem allows developers to build decentralized applications (dApps) with flexibility over design. Moreover, developers can apply and receive funding for building dApps on Flux with the Flux labs grants scheme.

How can I mine tokens?

Flux uses a Proof of Work consensus mechanism and can be mined using a GPU. The cryptocurrency uses the ZelHash algorithm, a modification of the Equihash algorithm that seeks to be ASIC resistant. This means that the mining algorithm does not give any advantage to the use of ASICs for mining. Instead of all block rewards being dedicated to miners, the reward system is 50% between nodes and 50% between miners.

To mine Flux, you can either go with the official wallet by Flux called “Zelcore” or choose any wallet provided by numerous crypto exchanges. There are many mining software to choose from, but the best three are GMiner, LolMiner, and MiniZ. After replacing all the related data, save these files as a .bat file and run them to start the mining process.

Any geographical restrictions?

Flux's Geolocation 2.0 feature allows developers and business owners to choose exactly which continent, region, or country their application can be spawned according to live data Flux Nodes Geolocation availability. It will be possible to choose up to 5 different locations where the app can be spawned on the network. In addition, the opposite will also be possible; choose up to 5 locations where your application cannot be spawned.

How can I optimize my mining rewards?

To optimize your mining rewards, you can join a mining pool. A mining pool combines your resources with those of other miners, resulting in regulated income. Cruxpool is a Flux compatible mining pool and uses a 1% PPS system by averaging over the last 5 blocks found. Note that parallel assets fees will also be 1%. These parallel assets fees are subject to change depending on the activity of the network and the amounts on the parallel assets claim.

How can I use the network?

The Flux network allows developers to build decentralized applications (dApps) with flexibility over design. Developers can apply and receive funding for building dApps on Flux with the Flux labs grants scheme. The Flux toolkit provides minimal development requirements for deploying dApps. As an open-source, public blockchain, anyone around the world can participate and contribute to the Flux network.

Who governs this network?

The governance of the Flux network lies with members of the Flux governance (XDAO) decentralized autonomous organization (DAO). To become a participant of XDAO, members must hold a certain amount of FLUX tokens. Users can access the Flux governance XDAO via the main “runonflux.io” website. Here, users can view all of the open, passed, and rejected update proposals to the Flux network.