Second Halving Event for Flux Results in Five Month High Price

The second halving event for the decentralized cloud infrastructure protocol Flux has recently taken place. The market has also responded favorably, with FLUX prices reaching a multi-month high.

The Web3 cloud computing network Flux had a successful halving phase on February 8.

Flux halves its block reward in half every 655,350 blocks, much like Bitcoin does. However, because one block is generated every two minutes on average, the halving occurs every 2.5 years. The block reward was decreased by the halving event from 75 to 37.5 FLUX.

The fact that Flux only gives miners half of the block reward should be noted. The remaining half is divided across Masternodes, making the current mining reward 18.75 FLUX.

The goal of the halving is to stop inflation and raise demand by reducing supply (the total opposite of fiat). FLUX will have a maximum supply of 440 million tokens, of which 276,486,457, or around 63%, are now in circulation.

Cloud Computing That is Decentralized

In March 2021, the Flux Network token underwent a rebranding from ZEL. Its main objective is to make the web3 environment accessible. With more than 15,000 operational nodes, it also asserts to be the biggest decentralized cloud network in the world. It provides a full range of blockchain-as-a-service options and decentralized computing services.

By enabling node operators to run their own nodes on personal hardware or a virtual private server, the platform promotes decentralization. They receive 50% of the block payouts in exchange.

The development of Flux began in early 2020. Numerous changes are planned for the first quarter of 2023.

Decentralizing the well-known CMS WordPress, accepting fiat payments for cloud services, promoting referral programs, and updating the cloud to version 3.2 are a few of these.

A blog entry on February 7 also mentioned various updates from January, including:

Future Price of Flux

Over the past 12 hours or so, the network's native token bearing the same name has increased by almost 9%. During the Wednesday morning Asian trading session, FLUX rose from an intraday low of $0.909 to a five-month high of $0.985.

At the time of writing, the token has also marginally declined to trade at $0.968. Since mid-September, the asset has not risen beyond the one dollar level where it has encountered resistance.

FLUX has also increased by 52% during the last two weeks but is still down by 71% from its all-time high of $3.33.