Decentralization is one of the initial justifications offered by supporters of web3 and the blockchain. However, given that the majority of cloud solutions utilized in blockchain are offered by centralized businesses, how can we advocate for the complete absence of trusted third parties? Numerous initiatives are attempting to provide decentralized cloud solutions in response to this inconsistency. The FLUX project is one that we’re showcasing today.
Centralized cloud solutions’ drawback
Blockchain technologies, about which we already spoke in the introduction, desire to be independent of reliable third parties. It is important to quickly review the definition of “cloud” before moving on with this topic. The cloud is a sizable server that enables you to run programs around-the-clock. All currently running websites require servers to function. The cloud, expressed simply, is a huge computer that is constantly running.
Nevertheless, despite the best efforts of ongoing programs, certain anomalies persist. As a result, over 25% of all Ethereum applications in use today run on Amazon cloud services. Even though Amazon is not ready to vanish, it is simple to comprehend the dangers of this cloud concentration. Consider the instance of the OVH servers that caught fire in March 2021 and severely disrupted a variety of websites. All of our customers on this data center are probably going to be impacted, the business added on Twitter. Decentralized cloud solutions have been developing for a few years to address this issue.
What is the FLUX network’s functioning?
Therefore, this ambition to provide Blockchain-As-A-Service, interoperable, and decentralized solutions led to the creation of the FLUX project. To do this, FLUX developed its own blockchain that utilizes a specific consensus based on its own coin, the FLUX. Anyone who participates in the network’s operation can become a validator and earn incentives.
The project, a technological gem, offers hybrid operation for increased modularity. On the one hand, a portion of the FLUX blockchain functions since it uses the same Proof of Work as Bitcoin. By contributing computer power to the network, miners are compensated with tokens. On the other hand, you can use a proof of stake to safeguard the network by blocking a particular amount of FLUX in nodes. Thus, every member of the network creates a massive web that enables the use of decentralized cloud solutions. We won’t get into all the technical details of the project because the goal of this post is to offer an introduction to it. However, their official website has information on these solutions.
A decentralized cloud solution’s benefit
The FLUX network, which currently consists of more than 12,000 nodes, functions like a sizable computer that is always on. Therefore, for a set quantity of FLUX, any project, person, or business can put their application in this cloud. An organization reduces the likelihood that its application will be terminated as a result of a server failure by selecting this kind of solution. Additionally, a blockchain project’s use of decentralized cloud services reflects its willingness to forgo a reliable third party (Amazon to take the example cited above).
The project’s announced innovations
The project is progressing quickly because of its community and the substantial number of contributors that FLUX has gathered. To boost the number of validators and fortify the network, the amount of FLUX tokens required to run a network node has recently been drastically reduced. The project is not to be outdone in terms of the upcoming innovations. As shared nodes are implemented in the upcoming months, more people will become interested in this ecosystem, raising awareness of this kind of solution.
The project is also developing Proof Of Useful Work, a new kind of consensus that, in my opinion, represents a gigantic upheaval. The goal is to respond to actual practical cases using the computer capacity of the miners who protect the network. Thus, we may safeguard the FLUX network while producing molecules for scientific research or energy for algorithms used in artificial intelligence.
FLUX strengthens the decentralization that an entire ecosystem supports with its solution. The Internet of the future can now be built by deploying a project in this decentralized network. The project’s crew and community are to thank for its quick development and ongoing innovation. Thus, implementations like the Proof of Useful Work would be sufficient to unsettle the opponents of the Proof of Work. Before this kind of solution is widely used, there is still a long way to go.
