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What Is Flux?

Nov 29, 2022
4 min read

This blog post will cover:

  • About Flux (FLUX)
  • Where did Flux (FLUX) come from?
  • What are the advantages of Flux (FLUX)?
  • What are the disadvantages of Flux (FLUX)?
  • How to buy Flux (FLUX) on SimpleSwap?

About Flux (FLUX)

FLUX is a native coin of the Flux ecosystem, which provides blockchain solutions for development environments. To power this network a native coin is used. It can help if one needs to pay incentives to hardware hosters, to pay transaction fees, to vote for governance decisions, and for staking. FLUX is a fair-mined and PoW cryptocurrency. There are three main possibilities to obtain coins: use GPU mining, buy on the exchange service, and get as a reward on the platform.The Flux network has a number of special features. For example, its operating system runs on Linux in order to provide better computing power and uses blockchain technology for governance. Flux has a number of partnerships that show a trustful attitude to this project. It hosts and decentralizes infrastructures of Kadena blockchain, Firo, and Presearch blockchains. Moreover, Coinbase Rosetta, Kusama, and Polkadot nodes are also running on Flux.

Where did Flux (FLUX) come from?

Flux appeared on January 31, 2018. Initially it was named “Zelcash” or “Zel”, and it was rebranded in March 2021.The co-founders of the project are Parker Honeyman, Tadeáš Kmenta, and Daniel Keller.The idea of Flux came from the necessity to provide solutions for decentralization.

What are the advantages of Flux (FLUX)?

  • Easy-to-use
    It is created in a way that anyone could use the platform.
  • Anyone can participate
    Anyone in the world can run a FluxNode, all that is needed for this is software and hardware with particular technical characteristics.
  • Partners find it trustworthy
    Already hosts a lot of decentralized solutions
  • Is run by its community
    This makes it a real open-source project that enables its users to develop all sorts of customized solutions.
  • Interoperability with other blockchains
    This feature widens the horizons of DApps possibilities.
  • Wide variety of use cases
    Flux allows users to create stock markets, eSports applications, derivative markets, or other financial products.
  • High speed

What are the disadvantages of Flux (FLUX)?

  • Flux we see now is a relatively new project
    Since the day it was created, Flux has gone through a lot of changes. Thus, the Flux we see now is a relatively new project. Right now it is difficult to talk about its disadvantages. We can see that the community on social networks is excited about the current state of the network. So far the only thing that might be considered a little disadvantage is the necessity to have specific hardware to be able to run a node. On the other hand, it is understandable that some hardware may set limitations on the performance of the system.

How to buy Flux (FLUX) on SimpleSwap?

If you decide to become a part of the Flux community and purchase FLUX coins, SimpleSwap is ready to help you. Please, follow the instructions below:

  • For example, you want to swap BTC for FLUX. Select the currency you want to exchange (e.g. BTC) in the first drop-downlist. Then enter the amount you want to swap.
  • Select FLUX in the second drop-down list. You’ll see the estimated amount that you’ll get after the exchange.
  • Click the Exchange button.
  • Enter the Recipient's Address. FLUX will be sent. Be careful and make sure you use the correct address.
  • Create the exchange.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the BTC to FLUX exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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