Flux protocol: How it helps layer1 blockchains?
Flux is a decentralized protocol that helps layer1 blockchain by feeding genuine and trustworthy data. So why is necessary to have an external data source to feed these layer1 blockchains? The answer is simple cost and time. Any layer1 blockchain when needs data they have to search by themselves and create an architecture that defines their need to search for specific data sets. This process is immensely expensive and time-consuming.
To go into this topic deeper let's explain what problem the layer1 problem to have the data:
- Secure data: The problem of finding secure data is very important for blockchains. Data manipulation has been one of the most problematic situations. The attackers usually attack the middleware layer which connects the smart contracts to external data sources. This process makes the data gaining process more vulnerable.
- Cost: Financially layer1 blockchains have to invest huge sums to define their own data processing method for smart contracts.
- TIme: To have the correct and genuine data in a specific time frame is hard to achieve for the layer1 blockchains. If they need to set up the whole data ecosystem, that is too time-consuming.
To solve all these issues flux protocol is helping layer1 by providing secure and truthful data. There is transparent and secure interaction between smart contracts and external data.
Recently flux has also integrated with Solana (click here to learn more )which is the fastest-growing layer1 blockchain ecosystem. We are determined that the Flux protocol will help the scalability issues of any blockchain.
Interested to learn and contributing to the project? Get in touch with the team and community here :