Flux Launches 10th Parallel Asset: Flux-Bitcoin is here!
In what is set to become a revolutionary move in Q4 2023, Flux is poised to release the 10th parallel asset of the ecosystem.
Parallel assets have become Flux insignia of interoperability and cross-platform collaboration within the blockchain industry. More than just digital tokens, Parallel assets serve as a bridge that links the Flux network to other major blockchains.
From the Binance Smart Chain (BSC) to the Polygon network among others, Flux parallel assets function as a dual-system gateway, allowing Flux users to experience the unique capabilities of other blockchains while maintaining a 1:1 interconversion integrity with the native Flux asset.
These assets have laid a solid foundation for exploring diverse DeFi opportunities and advancing cross-chain solutions for the ever-evolving Web3 world.
Flux’s vision is a fully decentralized yet integrated Web3 ecosystem with seamless interoperability across different chains. Therefore, Parallel assets are one of the tools designed for fostering synergy within the web3 sphere. With nine of these parallel assets already in circulation, it’s now time to unveil the 10th (and final) Parallel asset in Flux’s Playbook.
Bitcoin Stability, Lightning Speed
The Bitcoin protocol is regarded as the holy grail of digital payment networks, and with good reason. In addition to its pioneering role, Bitcoin has demonstrated consistent reliability, liquidity, and security. As a result, it remains one of the most reputable digital assets of all time and has enjoyed immense adoption even outside the blockchain world.
Flux’s latest parallel asset, Flux-Bitcoin, will enable holders to leverage Bitcoin’s explosive power and technology for different possibilities.
Flux-Bitcoin is issued on Taproot assets, a tap-powered protocol that enables assets issued on the Bitcoin chain to be transferable via the Lightning network. Hence, Flux-Bitcoin will introduce to users the stability and security of the Bitcoin network coupled with the high-performance speed and low transaction fees of the Lightning Network. This move also cements Flux as a first-adopter of Lightning network layer-two solutions and taproot assets.
The Lightning Network represents a peer-to-peer payment network that capitalizes on payment channels integrated with the Bitcoin blockchain. It enables near-instant and low-cost settlement of Bitcoin between participants. By consolidating multiple payment channels, transactions can be executed rapidly on the Bitcoin network, addressing the Bitcoin scalability question.
Flux-Bitcoin marks a new era for digital payments, as it introduces Flux users to a world of high-volume transactions executed with record speed.
This asset will maintain atomic conversions to Bitcoin and also enable Developers to take advantage of the immense potential of the Lightning Network for developing instant crypto-payment solutions.
Lightning and Bitcoin On Flux
Flux-Bitcoin unleashes the world of Bitcoin on Flux. Now, you can run Bitcoin infrastructure on Flux, regardless of whether it’s a blockbook, mainnet, Testnet, or the newer Bitcoin Signet. Bitcoin nodes on Flux are already in the works and will be available soon.
Flux will also become the go-to cloud provider for hosting Lightning network clients, taproot assets clients, or universe nodes. The new parallel asset positions Flux to directly participate in Bitcoin, layer-two solutions development and their adoption.
How To Claim Flux-Bitcoin
Flux-Bitcoin will be distributed as a reward for participating in the upcoming Halloween snapshot scheduled for October 31, 2023.
To qualify, you must hold $FLUX in your Zelcore wallet at the time of the snapshot. All holders are eligible, including users with Flux locked up in FluxNodes or Titan Nodes. Holders of Flux parallel assets are also eligible and do not have to swap their PA back to native Flux. (However the Flux team recommends doing so to save on fees.)
The reward for the new parallel asset will be approximately 4% of your Flux holdings at the time of the snapshot. The more Flux you hold, the more Flux-Bitcoin Parallel assets you can earn!
For more information on the Flux Ecosystem, please join our Discord and check our official website. Visit our marketplace to easily host and run front-ends, nodes, block books, crypto projects, and games with just a few clicks. Flux is very active on Twitter.
Flux is redefining the future of the decentralized internet by bridging the tech barrier. We are innovating to power the free web smarter, better, and at affordable prices.
