POW POW POW, the Flux-Ergo Parallel Asset Is Coming In Hot!
Flux-Ergo will be the next parallel asset to build out the Flux ecosystem. Ergo is an excellent proof of work layer 1 blockchain with a vibrant and active community of miners, developers, and Web3 enthusiasts.
Flux parallel assets build bridges between Flux and other blockchains. They allow Flux to travel and provide significant cross-chain interaction and integration opportunities.
However, building a bridge is no easy feat. So when you build one, it’s pretty important that it will carry you to a destination you want to visit again and again. The Flux team is very focused on selecting parallel assets for Flux that bring value to the Flux ecosystem, both from a holder and a development perspective.
We’re happy to announce that the next Flux parallel asset deployed will be Flux-Ergo.
The Flux-Ergo distribution will be based on the May 5th, 2022 snapshot and is targeted for October 25th (pending confirmation/subject to change).
Ergo is a proof of work layer 1 blockchain. It has a lot in common with Flux and some key differences.
The main thing that Flux and Ergo have in common is a deep focus on decentralization.
First of all, Ergo is proof of work, meaning that the blockchain is secured by GPU miners. Ergo uses an ASIC-resistant mining algorithm to maximize decentralization. This is the same method Flux uses to ensure a safe network with a high degree of decentralization.
Secondly, like Flux, Ergo has been fairly distributed with no private sales or initial coin offerings. This creates a level playing field for holders, so no one has been given an unfair or unproportionate amount of coins without having to buy or mine them.
And last, Ergo is a community-driven project that relies on a small foundational team aided by passionate volunteers rather than a traditional corporate structure. You know, just like Flux.
Those three items create an excellent basis for building independent decentralized Web3 projects. At the core, Flux and Ergo share a common vision of what decentralization should be and how that can be shaped into powerful blockchain solutions.
You’re so wrapped up in layers, Ergo boy.
Ergo is a layer 1 blockchain with a well-developed smart contract platform. On Ergo, you can find a multitude of exciting tokens and dApps, like on Kadena or Ethereum.
There is a lot to unpack when you dive into the growing Ergo ecosystem; there are NFT markets, DEX, DAOs, IDO platforms, and even their own stablecoin. There is a vibrant and active community of developers and blockchain projects continually building and growing the Ergo ecosystem.
Ergo is focused on providing a safe, accessible, and powerful UTXO-based smart contract platform with an EVM bridge. While Ergo has its unique approach to building great layer 2 solutions, it is similar to what we usually identify as layer 2 in blockchain, i.e., smart contracts and dApps.
Flux has taken a different approach to layer 2 than other blockchains. On Flux, there are no tokens or smart contracts. Flux uses its decentralized computational network of more than 12.000 nodes to power its layer 2. Flux Infinity contracts fuel on chain deployments of dApps hosted on the Flux nodes. An infinity contract ensures that a dApp stays online for the contract duration; the dApp contains whatever functionality its developer intended while being completely chain and code agnostic.
So in this regard, Flux and Ergo are quite different. And that is good because that means that they complement each other well.
Hi Ergo, I’m Flux. Wanna play?
The many dApps of the Ergo ecosystem will be able to utilize the Flux network for decentralized hosting. Flux has a massive computational network, and Ergo has a lot of dApps. We hope this is the beginning of a beautiful friendship and that we will see a lot of traffic on this new bridge we’re building with our new Flux-Ergo parallel asset.
With the launch of Flux-Ergo, the Zelcore wallet will also be adding Ergo support, so things are off to a good start.
Flux is fueled by community, so we invite you to come to take part. All are welcome, and it doesn’t matter if you’re interested in technology, an investor, a developer, or just like to make crypto memes all day. Flux needs all kinds of people to participate in the decentralized future.
If you want to witness what Flux has built so far, go visit the Flux network dashboard and see how many nodes we’ve got online, check out the massive resources available to the network, see what decentralized apps are running and what the current rewards are for Flux node operators.
And also, please do stop by the Flux discord to meet the Flux team and community and discuss all things Flux. We’re always on the lookout for new community members or developers.