How the Flux protocol works? Data types.

Flux protocol is a cross-chain oracle aggregator that works in a decentralized manner and does not require trust. With the help of the Flux Protocol, the blockchain can receive information from the real world, requesting it from the oracle.

Any user can become a validator by locking the required number of FLUX protocol tokens for this.

At the moment, the project is under development, and has attracted funding in the amount of -10.3 million dollars.

At the moment, it works on the Near test network, and the integration of Flux into the Solana blockchain was recently announced.

You can read more here

Providing a wide range of data from the real world. Provides data on the price of certain assets in order to create their synthetic versions on the blockchain.

It can connect to sites or services via the API to transmit data that this communication channel is capable of transmitting (a good example is crypto exchanges). You can get any data: weather conditions, results of sports events, etc.

All this opens up great opportunities for creating blockchain applications.

In addition, there is also a manual data transfer function. Start-contracts can send a validator a request that cannot be answered automatically, then the validators will be able to enter this response at hand.

Flux will also act as an aggregator of other oracles, which at the moment does not have any popular project. Thus, developers will be able to significantly save on paying for many other oracles, instead cooperating only with the Flux protocol, which will itself collect information from other oracles and transmit it to the end user.

Flux Protocol supports the data aggregation function, which will allow using the collective intelligence effect. This will allow a large number of people to agree on a certain issue and transfer the most objective data to the blockchain.

Flux will also have its own DAO, and the Flux token and its stacking will play an important role in the development of the project.

In the next article, we will analyze the mechanics of the project in more detail.

Twitter: https://twitter.com/fluxprotocol
Site: https://www.fluxprotocol.org/
Discord: https://discord.com/invite/sJUveAvJHf
Telegram: https://t.me/fluxprotocol

Source: https://colinkamalinka-82277.medium.com/how-the-flux-protocol-works-data-types-e32177bb9da5?source=rss——cryptocurrency-5