Because smart contracts cannot work without an external data source, Oracles are critical in the blockchain ecosystem.
Here are 4 main ideas on which the development of the protocol is based. Flux is: open-sourced, transparent, decentralised and community driven project.
What does that mean?
- All development of Flux Protocol is open-source without any limitations, so anyone can view and use it.
- To ensure full decentralization, Flux uses the set of validators that protect from any type of attack.
- Data on Flux Oracle is transparent and easily accessible, so anybody can access this data.
- Flux DAO provides to make all decisions and proposals submitted and approved by the users.
It is an open market protocol that allows programmers to construct markets on virtually anything. Yes, everything imaginable — any asset, commodity, real-world event, or anything else.
Flux Protocol provides scalability as a solution. This puts the proposal ahead of the competition due to certain minor details. Flux will focus on blockchain solutions at the Layer 1 level. Flux picked Near and Solana as two quicker and more promising networks with their ecosystems, rather than the outdated and costly Ethereum network. The team guarantees that cross-chain will continue to evolve and that the number of collaborations will grow.
Flux is a safe trading environment that guarantees markets run smoothly by rewarding validators for resolving problems (with fees from open interest). Using Flux, stakeholders collaborate to create a fully decentralized, user-friendly, and scalable ecosystem.
Flux protocol offers a number of benefits over its competitors like Chainlink or Band protocol, including the ability to be more adaptable and user-friendly for its users.
It’s ecosystem includes: Data requesters, Data Validators, Abritrator and Flux Dao. You can read more about it in the official documentation.
If you’re a developer, I suggest you to learn more about and try it at the official project GitHub.
Read more about Flux:
Official Website https://www.fluxprotocol.org/
Discord: https://discord.com/invite/sJUveAvJHf
Twitter https: / / twitter. com/fluxprotocol
Telegram https://t.me/fluxprotocol
