• A newcomer? FLUX joins the top 100 after gaining 130% in the previous month

  • Flux (FLUX) has surged in value by 130% since August 6 and has joined the top 100 cryptocurrencies by market cap.

    Flux hit rock bottom on July 12 at $0.394, igniting a meteoric rise that peaked on September 6 at $1.437. Bull weariness has since set in, with Flux now trading below the previous day’s close.

    Flux, formerly known as Zelcash or Zel, rebranded in March 2021. According to the project’s whitepaper, the team plans to address the issue of “unresolved blockchain demands” by providing “digital infrastructure to support the future.”

    What exactly is FLUX?

    Flux aims to be the premier scalable next-generation decentralized cloud architecture solution.

    “The Flux Ecosystem is a suite of decentralized computing services and blockchain-as-a-service solutions which offer an interoperable, decentralized, AWS-like development environment.“

    The native FLUX coin, which is designed to incentivise hardware hosts, simplify on-chain governance, and mitigate bad actors, lies at the center of the ecosystem. Running hardware necessitates staking FLUX, and bad actors suffer token confiscation for illegal conduct.

    The team argues that a standardized approach to blockchain-based decentralized cloud architecture is required. The Flux ecosystem system provides this technology in the form of a “digestible set of tools.”

    Flux intends to offer “usable blockchain solutions to the people in easy-to-use applications” through its incubator program, which is linked with strategic collaborations to expand the ecosystem.

    Recent developments

    Recently, there have been no significant new fundamental developments on Flux.

    Its most recent piece shows why GameFi is poised to threaten Sony, Nintendo, and Microsoft’s present paradigm. In a nutshell, the paper argued for motivating and rewarding gamers rather than the currently dominant mega-corporations.

    However, beyond from describing Flux as the “ideal infrastructure to support” Web3 gaming, it did not reveal any specific gaming applications that are being developed on the network.

    Surprisingly, the company wants Ethereum PoW miners to join the Flux ecosystem. Ethereum will fully switch to a Proof-of-Stake (PoS) chain, leaving existing PoW miners in the dust.

    Nonetheless, the company regards PoW as the “only possible future” and invites GPU miners to help secure the Flux chain.

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