Flux Protocol - Reasons They Should Be The Next Unicorn In Blockchain Space
INTRODUCTION
Blockchain is the emerging cutting-edge technology, which is introduced regularly on media nowadays. Although its famous, the real mainstream of this technology is still not happened yet. For examples, the world's first Bitcoin legalized country witnessed protest of their citizens against Bitcoin adoption. However, everyone working in this blockchain industry is working hard to bring more adoption to the space. An illustration of this is NEAR-based Flux Protocol that is created for developers launching open financial primitives in the easiest way. So what is Flux Protocol and how it can play as game-changing protocol in the blockchain space? Let’s find out next!
WHAT IS FLUX PROTOCOL?
According to Flux Protocol's website, Flux Protocol is “a cross-chain oracle aggregator that provides smart contracts with access to economically secure data feeds on anything.” Back to the adoption matter which is mentioned above, the easiest way to attract more users to join this space is to bring real data from traditional fields such as Stocks market or eSports. By that way, it makes things operating more effectively and efficiently in blockchain. More than that, Flux Protocol is the very first oracle built on NEAR, this makes it the core component in the development of NEAR’s ecosystem.
FLUX PROTOCOL STRENGTHS
Many protocols became ghost town because of its complicated to use. Flux Protocol, in contrast, tends to offer smart contracts and applications with the purpose of bringing the easiest working way for developers. In specific, with the power of Flux Protocol, developers can access any real-time price feed data to create completely new financial tools or connect APIs to create applications related to eSports events and weather forecast. In addition, the power of Flux Protocol is unlimited when it can connects most of crypto oracles into one stream with economic guarantees and gather any other information thanks to arbitrary data. All of these features will be protected by Flux Validator Node to make sure everything working correctly. As recognition, Flux Validator Node will be rewarded based on their contribution.
WHY FLUX PROTOCOL?
If you are a cryptoholic or a blockchain developer, you definitely know that Ethereum transaction fee is the most headache problem nowadays following the boom of NFT or DeFi market. Powered by NEAR, it is easy to understand that Flux Protocol offers the cheapest transaction fees compared to other oracle using Ethereum Network on the market. It means that you are worrying-free about network congestion or other financial matters when using or developing on Flux Protocol. Furthermore, the protocol also provides fast and secure data resolutions thanks to the superiority of its economic design. It is not an exaggeration to say that this is an oracle coming from the future to serve our era.
Other things users usually consider when using new protocol is its compatibility with other chains. This is perfectly solved by Flux team when they provide native multi-chain support with Cross-chain validator security. Besides, you also receive 1-on-1 support from high-skilled core team members or dedicated community members on Flux Protocol dev channel.
CONCLUSION
With the supportive of solid team such as Open Oracle Association, a Swiss Non-Profit entity, strong backers like Coinbase Ventures and state of the art technology, it is no surprised that Flux Protocol is the most notable oracle project not only in NEAR ecosystem but also in crypto space in the next time.