Flux is a blockchain ecosystem designed to provide decentralized infrastructure for building Web 3.0 applications. It operates with its own Linux-based operating system called FluxOS and uses a native cryptocurrency, FLUX, which facilitates transactions, rewards for masternode operators, and staking within the network. The Flux ecosystem aims to support decentralized, cross-platform development environments.
Flux operates on a proprietary blockchain that was initially forked from ZCash. It has since evolved to incorporate unique features like a hybrid consensus mechanism, primarily based on Proof-of-Work (PoW) but also involving elements of Proof of Stake (PoS) and Proof of Useful Work (PoUW). These consensus mechanisms ensure the network's security and integrity. The ecosystem supports smart contracts and parallel assets, enhancing interoperability with other blockchains. Decentralised computing solutions are provided through a network of enterprise-grade server hardware hosting Flux nodes, facilitating Blockchain-as-a-Service (BaaS).
Flux can be used in a variety of applications:
Its real-world applications extend to finance with projects like Yearn Finance (YFI) and Aave (AAVE), gaming, and industries like AI. Flux's partnerships with blockchains such as Kadena, TRON, and Ethereum further enhance its utility.
Flux was founded in 2018 as a fork of the ZCash blockchain, initially focusing on improving decentralized exchanges. By 2020, it transitioned to its own independent blockchain and developed an ecosystem of decentralized apps. Significant milestones in 2021 included rebranding from Zelcash to Flux, the introduction of FluxNodes, and expanding interoperability with parallel assets. Over time, Flux has evolved from a simple ZCash fork to a robust decentralized network supporting Web3 applications, gaining attention from developers and the broader blockchain community.