What Is Fluence?
Fluence is a network comprising of independent nodes that focuses on the provision of an encrypted database service that is decentralized. Different kinds of structured data are accommodated by the database.
The network users will be able to store, manage, query and monetize their encrypted structured data and ensure its security is maintained by using blockchain technology. The goal of the network is to be a reliable database for all types of decentralized Internet applications.
Fluence is built to be the safest and very reliable platform for all types of structured data. The network protocol that the platform developed guarantees its users the security, control, privacy, and retrievability of their data. The token economy of the network provides facilities used for network scaling, conflict resolution, self-healing, and insurance for the users.
How Fluence Decentralized Blockchain Data Storage Network Works
Users of the platform have total access and control over their encrypted data; they are provided with a private key only known to them to ensure maximum security. The data is always available on the network since it is constantly replicated across the entire network thus achieving maximum uptime.
Blockchain technology ensures transparency of the data, the open source codebase is available for all users that are willing to build applications on it. Through the removal of a censorship and a single point of failure, means that the solution provided does not depend on the will of a single company but multiple users.
The platform allows for immediate scalability for data of all amounts and locations thus allowing economically motivated nodes to safely compete with each other in a transparent market for the storage of the user's data.
Every storage contracts is under protection with the security deposits of the tokens. Independent network participants verify every operation and transactions on the platform.
The platform encrypts the user’s data thus preventing attackers from reading the data that is stored on the network. Only the user has full access of their original data made possible by the availability of private keys only known by the user.
The platform's database response is very fast. The platform reduces network round trips and thus enhances the storage of data to allow fast access by its users.
Fluence FLU Token & ICO Details
The platform has two tokens FPT and FLU tokens. FPT are created only during the platform's pre ICO. The FPT tokens cannot be traded and are converted to FLU tokens after the network's main token sale. The price of the FPT tokens is fixed in USD once the pre ICO is over in order to avoid the volatility risks.
The network's FLU token are utility tokens issued on the platform and are ERC20 compliant on the Ethereum network. The tokens are the only way users can get services in the network. Token holders can use it to pay for data storage, data requests as well as validation operations. The tokens purpose is to ensure that all operations are secured firmly in the network with no need of intermediaries.
Parameters Of The ICO
- Token symbol: FLU
- Accepted payment method: USD, ETH
- Total token supply: 100,000,000
- Pre ICO: 6,000,000 FPT from 2017-08-14 – 2017-09-04
- Hard cap: 22,500,000 USD from 2018-10-01 – 2018-12-31