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What is FLUX (FLUX): A complete Beginner’s guide (2021)

Our partners at Instaswap created a beginner guide of Flux. Read more here

What is FLUX (FLUX)?

Flux (FLUX) previously known as ZEL is the cryptocurrency that stands for the Flux ecosystem. The Flux project was founded by 21-year-old Miles Manley, a young mastermind who dared to make a difference. The aim was to build a fast, scalable, and decentralized network based on Blockchain technology, encouraging developers to create their applications and dApps based on blockchain tech. Its underlying network is based on Proof Of Work algorithm rewarding FLUX miners who verify transactions in a decentralized way.

The FLUX ecosystem is made up of many pieces that sometimes can be misleading for users. , in this article, we are going to explain the entire project including all the details that someone needs to know in order to use it.  

FLUX Ecosystem

The Flux Ecosystem comprises 3 main services with the first one being ZelCore which is the blockchain wallet. The second one is Flux, the decentralized network and the third service is called Zel, the currency and digital ledger.

ZEL: The Digital Asset

Zel is the cryptocurrency that plays a primary role in the ZEL ecosystem being important for both ZelCore and Flux. The digital asset is mineable and obviously rewardable for those who verify transactions through FluxNode. Zel uses the (ZK-SNARKS) protocol which is a novel form of Zero Knowledge cryptography founded in 1980 by MIT researchers.

ZelCore (The Blockchain wallet)

ZelCore is the most important part of the platform where everything happens. It is a non-custodial and multi-asset platform that does not hold any personal information and keeps your assets safe. The project supports more than 100 assets including ZEL, Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Monero (XMR) and many more. The ZelCore interface is friendly and includes everything that the Cryptocurrency industry offers without the need of leaving the platform. In addition, the project offers further features such as quick-swaps, multiple accounts on the same wallet, extra security (Zel ID) and ZelCore+.

Read the full article on the InstaSwap blog

How to exchange your Flux (FLUX) to Bitcoin (BTC) using InstaSwap?

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