What Is Zel (Flux)?

The whitepaper mentions that Zel was rebranded as Flux on March 27, 2021. Flux aims to be the next generation of decentralized cloud architecture that is scalable. The Flux ecosystem collects decentralized computing and blockchain as service solutions.

FluxNodes' decentralized infrastructure, FluxOS cloud operating system, Zelcore self-custody multi-asset wallet, and blockchain app suite are all the components of the Flux ecosystem. In addition, the Flux blockchain, which is used for on-chain governance, economics, and parallel assets, offers interoperability with other blockchains and access to DeFi.

Flux's ecosystem is powered by a native POW (proof of work) token, which aims to provide incentives for hardware hosts, on-chain governance, and “lousy actor mitigation” through staking.

According to the whitepaper, despite a large amount of Bitcoin cryptocurrency and Dash/master node projects littering the environment without offering new features or ideas, there are still a large number of projects attempting to tackle a limited number of blockchain problems. While competition amongst various projects to tackle the same problem is always beneficial, this can slow down the introduction of new developing technology to the public. Answers to these questions and a common strategy for integrating blockchain technology and preparing a consumable set of tools for present and future developers are required.

Flux created these development tools to help accelerate the adoption of new blockchain solutions through real-world use cases and the underlying technology needed to build these products and platforms.

The native token of the infrastructure is FLUX. The FLUX token is utilized for exchanging resources, collateralizing nodes, and powering transactions on FluxOS. FLUX aims to reward miners and FluxNode operators for verifying transactions and supplying computing resources.

Who Founded Flux?

Flux was initially started as Zelcash or Zel. However, in some places like coding, literature, and publications, Zel is still used. Tadeáš Kmenta, Daniel Keller, and Parker Honeyman are the cofounders of Flux. The whitepaper of Flux was published on April 13, 2021.

How Many Flux Coins Are There?

Lastly, the coin has a total supply of 4,840,000,000 FLUX.