Flux is allowing people globally to mine as individuals with a PoW system. This article covers a new element they launched recently – Project Titan – that allows them to scale, more people to participate and add more elements in. Flux is staying true to it’s mission – creating a decentralized Web3 infrastructure.
Project Titan, what is it and why is it important?
Daniel Keller, CSO and Co-Founder of Flux, was interviewed recently on ChumpChangeXD Mining and Crypto YT channel. The hosts were focused on finding out where Flux is at in its development. Flux’s new Project Titan was the first item brought up. Keller stated, ‘ The Titan project is a big deal!’ It is a their new shared nodes program.
To give a framework, he reminded them Flux is a decentralized computing network with three tiers of nodes. These are enterprise level nodes that many people do not have the knowledge to run. As they were starting to deploy them, they realized they wanted to have a way for more people to participate in the Flux network. How to do this?
Many other projects have dealt with this issue by creating staking models. This is where coins are put on centralized exchanges and people earn a return. With this model, though, there is some high risks. First. people do NOT have their private keys anymore… ‘not your keys, not your coin’. What Keller realized is if Flux got added to big exchanges, like Binance or KuCoin, those exchanges would want to start staking and getting the ‘juice on it’. He realized that they would be pulling a big portion of Flux out of the people’s hands and putting into the exchanges hands, which are centralized. He recalls the phase when ‘shared master nodes’ were the craze. This amounted to trusting one person, who may be in a basement somewhere running these master nodes, to not get hacked and lose the coins. This didn’t turn out well as there was a number of them that went under and people lost their crypto.
The idea became to take a part of that shared node concept, deploy on one chain so people can hold their own crypto and participate in running these nodes. This would reduce the barrier to entry – and this is what Project Titan does.
Creating a way for more people to participate is one piece, the other is it gives Flux the opportunity to start working with enterprise based infrastructure, big companies and Web2 businesses who will wish to deploy in a Web3 environment. Flux currently uses Docker, but they will also be bringing in Kubernetes. Titan helped pull all this together.
The Next Steps
The next step is to take something running on AWS that is running in Kubernetes and be able to port is over to Flux – seamlessly. Jet Pack 2.0 will be coming out soon. This will have all the tools to deploy very easily, whether it is in a Docker or Kubernetes environment. IPFS will be part of this … this is sort of a leak, Keller said! Flux is running IPFS in beta and it should be coming real soon. They also have persistent storage being set up to roll out. It is in alpha and soon to be in beta phase, which will accommodate early adopters who want to check it out. Project Thunder is the persistent storage piece and they are working to get the security right before rolling it out. They probably could have moved faster, Keller said. However, every component that is developed on the platform is looked at thoroughly from security and decentralization.
Keller reminded the hosts, that this is all disruptive, iterative technology and it takes time. Flux teams focus on always erring to the decentralized side and is secure. Yes, there are centralized components as they had to build everything to make it function. With each iteration, it is moved to the side of decentralized with the ultimate goal of not needing Keller or a dev team to work on it. The system will just do its thing.
These are elements that, once running, will put Flux in a position to compete with AWS. Keller says their goal is not to replace AWS, but to offer a secondary solution. We have had Web1, which was the on-premise hardware, then cam the cloud. People we very skeptical at first – ‘where in the heck is my data’? Plus, they were concerned about their control over it. Gradually, we saw prem migrate over to cloud based infrastructure, but the prem did not go away. It stayed and was augmented by cloud. Web3 is going to be the same scenario. Companies who are Web2 now can add Web3 and work in both. The redundancy between these two different platforms will give the best of all worlds.
In Conclusion
Flux is building methodically and slower than many projects. It is working well and new projects are deploying on Flux at an increasing rate. One can check out FluxLabs to see what projects are running on Flux. Plus, they are staying true to their mission to create a decentralized Web3 infrastructure, using Pow that is easy to access.
About FluxHighway
FluxHighway is dedicated providing you the latest news about Flux (FLUX), and other decentralized Web3 projects in the crypto industry. Our goal at FluxHighway is to provide you with the best and most exclusive information about the crypto industry.
Follow us:
Facebook I Facebook Groups I Instagram I Linkedin I Twitter
Although the material contained in this website was prepared based on information from public and private sources that Fluxhighway.com believes to be reliable, no representation, warranty or undertaking, stated or implied, is given as to the accuracy of the information contained herein, and Fluxhighway.com expressly disclaims any liability for the accuracy and completeness of the information contained in this website.
Via this video.
