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Press Release

Flux-Bitcoin Brings Web3 to Lightning NetworkFlux-Bitcoin Brings Web3 to Lightning Network

Cambridge UK, October 24, 2023–Flux, a leading decentralized cloud provider, has announced the release of the 10th parallel asset of the ecosystem.  This is coming just after the recent unveiling of SSP, a next generation multi-sig browser wallet with massive potential to redefine blockchain self-custody.

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. They have also laid a solid foundation for exploring diverse DeFi opportunities and advancing cross-chain solutions  for the ever-evolving Web3 world. 

Flux’s latest parallel asset, Flux-Bitcoin, will enable holders to leverage Bitcoin’s explosive power and technology for different possibilities.

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-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.

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.

“With Flux pioneering Bitcoin’s expansion on its layer 2 and being the first to adopt Taproot assets, including the Lightning Network, we’re not just making history, we’re forever embedding Flux into the very fabric of the Bitcoin ecosystem. This is a monumental milestone for both Flux and the entire Web3 world. We’ve set the course for a future where the boundaries between Bitcoin and decentralized cloud services blur, and it’s an exciting journey we’re embarking on..” Daniel Keller, co-founder of Flux and CEO of InFlux

About Flux

The Flux Web3 cloud is a decentralized computing service and blockchain-as-a-service solution, offering an interoperable and decentralized development environment similar to AWS or Google Cloud. Flux utilizes a native POW (Proof-of-Work) coin to power this ecosystem, providing incentives for hardware hosters, on-chain governance, and bad actor mitigation via staking requirements for running hardware. The Flux operating system runs on top of Linux to provide the network with verified and benchmarked high-availability compute power and utilizes the blockchain to ensure transparency in governance operations. Flux Cloud is the world’s largest and most decentralized cloud infrastructure.

Contact Info:

Name: Betty Kolibacova – CMO of InFlux

Email: [email protected]

Organization: InFlux Technologies Limited

Website: https://runonflux.io/

Country: Cambridge UK

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