Space Summary
The Twitter Space KuCoin x Flux hosted by kucoincom. The collaboration between KuCoin and Flux brings forth a dynamic space where users can explore and identify potential cryptocurrency gems while emphasizing the importance of community engagement, scam protection, and due diligence. Through partnerships like KuCoin x Flux, investors can access diverse projects and navigate the crypto market securely. Platforms such as Telegram play a crucial role in fostering communication within the community. Staying informed, conducting research, and engaging with the community are key elements for successful cryptocurrency investments in the ever-evolving trading landscape.
For more spaces, visit the Trading page.
Questions
Q: How can investors utilize KuCoin and Flux partnerships to discover new crypto assets?
A: Investors can leverage collaborations to access a variety of projects and identify potential crypto gems for investment opportunities.
Q: What measures can individuals take to protect themselves from crypto scams?
A: Individuals should remain vigilant, conduct thorough research, and practice caution to avoid falling victim to crypto scams.
Q: Why is community engagement essential in the cryptocurrency space?
A: Community engagement fosters knowledge sharing, networking, and collaborative efforts that can lead to better investment decisions and scam prevention.
Q: What benefits do partnerships like KuCoin x Flux bring to the crypto community?
A: Partnerships enhance access to new projects, promote innovation, and contribute to the growth and diversity of the crypto ecosystem.
Q: How can platforms like Telegram enhance communication and information exchange within the crypto community?
A: Telegram provides a platform for real-time discussions, news sharing, and community building, facilitating better interaction and knowledge dissemination.
Q: What role does due diligence play in identifying potential crypto gems?
A: Conducting thorough due diligence helps investors separate legitimate projects from scams, enabling informed investment decisions.
Q: How do collaborations between exchanges and projects impact the cryptocurrency market?
A: Collaborations can introduce new investment opportunities, increase market liquidity, and contribute to the overall development and maturation of the crypto market.
Q: Why is it important to stay informed about new projects in the cryptocurrency space?
A: Staying informed enables investors to identify trends, evaluate opportunities, and make informed decisions in a rapidly evolving and competitive crypto market.
Q: What are some tips for spotting legitimate crypto projects amid a vast array of offerings?
A: Tips include researching team backgrounds, project fundamentals, community interactions, and seeking expert opinions to discern genuine projects.
Q: How can community-driven initiatives contribute to the cryptocurrency ecosystem?
A: Community-driven efforts like spotting crypto gems can uncover new projects, support innovation, and enhance the diversity and vibrancy of the crypto landscape.
Highlights
Time: 00:15:49
Collaborative Opportunities with KuCoin and Flux Exploring the potential for discovering new crypto projects through strategic partnerships.
Time: 00:25:37
Scam Awareness and Protection Strategies Discussion on the importance of vigilance and precautionary measures to safeguard against crypto scams.
Time: 00:35:22
Community Engagement for Crypto Enthusiasts Emphasizing the role of community interaction and engagement in the crypto space.
Time: 00:45:11
Innovative Crypto Asset Discoveries on KuCoin Insights into utilizing KuCoin's platform for exploring innovative cryptocurrency assets.
Time: 00:55:42
The Significance of Industry Collaborations Exploring how partnerships contribute to the growth and advancement of the cryptocurrency industry.
Time: 01:05:28
Strategies for Identifying Profitable Crypto Investments Tips and strategies for recognizing potential investment opportunities in the crypto market.
Time: 01:15:19
Community-Driven Investment Initiatives How community efforts can lead to the discovery of valuable cryptocurrency projects.
Time: 01:25:03
Secure Trading Environment on KuCoin Highlighting KuCoin's commitment to providing a secure and reliable platform for cryptocurrency trading.
Time: 01:35:44
Differentiating Legitimate Projects from Scams Guidance on distinguishing authentic crypto projects from fraudulent schemes.
Time: 01:45:27
Navigating Cryptocurrency Investments Safely Tips on navigating the cryptocurrency market securely and making informed investment decisions.
Key Takeaways
- Identifying promising cryptocurrency projects through KuCoin and Flux collaborations.
- Importance of vigilance and precaution to safeguard against crypto scams in the market.
- Engaging with the community through platforms like Telegram for enhanced networking and information sharing.
- Exploring the potential of KuCoin as a platform for discovering new and innovative crypto assets.
- Understanding the significance of partnerships in the crypto space for mutual growth and benefits.
- Strategies for identifying and investing in upcoming cryptocurrency projects for potential returns.
- Community-driven initiatives like spotting crypto gems can lead to profitable investment opportunities.
- The role of platforms like KuCoin in providing a secure environment for trading and investing in cryptocurrencies.
- Tips for discerning legitimate cryptocurrency projects from potential scams and fraudulent activities.
- Building a resilient and informed community to navigate the dynamic landscape of cryptocurrency investments.
Behind the Mic
Opening Remarks
Good morning. Hey, Jake. Sorry. Hey, Davey, can you also join with the project account as well? Let me check. Yeah, we can hear you. Hello? Just checking if you can hear me. Yeah, I can. I can. I'm checking if I can do that. I don't have the credentials for the main account, that's why. Yeah, I think in the meantime, let's just get started to save time for everyone who is just waiting on us. However, if you could just ping someone on your team to.
Starting the Discussion
Yeah, so I see flux is on. I just sent a co host invite. Yeah. So in the meantime, I'd like to just welcome Davey here on the Kucoin fireside chat. This is Tim again, and we'll be going over flux, as well as tackling how it tackles AI, compute challenges. So, Devi, who is the CBO on influx? Could you just start off with a high level introduction to your background, please? Hello? Could you please unmute your mic? Davey, could you just. Could you please unmute your mic? Just checking in.
Technical Difficulties
Could you please unmute your mic? All right, it looks like our speaker has some connection issues. Davey, could you just exit the space and rejoin, and we'll get you back up on stage. Thanks. Yep, all good. Go ahead. Sorry about that, guys. Twitter has been very flaky since the Elon and Trump thing. Not sure what's going on there. Yeah, all good. So did you hear my first question? Could you just start off with. No, not at all. It was pure silence for me.
Introduction to Influx
That's why I looked at Telegram earlier. So. Okay. Yeah. So could you just please give an introduction to your background as well as what influx is for those new to the project? Absolutely. So my background, I've been in medical it for about 20 years. I've done it all, from installing your regular PCs all the way to big installations with dozens of servers in radiology. I am european from descendants. I live in Canada right now, and I joined the blockchain space in 2017.
Continuing Connection Issues
Hey, Davey, I think we lost you again. Not sure about the others, but I can't really hear you. Davey, we can hear some background noise, so I think your speaker is working it. Hi, everyone. Apologies for the technical difficulties. Please just give us a few minutes. It. Yep, we can hear you. Please go ahead. Hope you guys can hear me now. Yeah, but the connection doesn't seem that stable.
Frustration with Tech
Did you. Did you change to Wi Fi or 5G? Hello? This is a little frustrating. Hope you guys can hear me now. Sorry for this. Yes, we can hear you. Sorry for everybody who joined. No worries. Hello? Hi, Davey. Sorry, everyone. Let's just try this one more time, please. Give us a few minutes. Yep, I can hear you.
Final Attempts to Connect
And I can actually hear you now. All right, let's hope it holds this time.
Introduction and Overview
Yes, please. Please just go ahead with your introduction. Absolutely. During my connection issues, and I'm not sure what at any time, if you stop hearing me, let me know. You should be good. So, yeah. What is influx? Influx is a parent company that builds on top of the flux blockchain. So we're very focused at the moment, of course, on Flux Edge Rai spiel, where we basically create a decentralized compute network, and then we have our flux cloud solution that we also build on, which is our fully blockchain based network that's built on and run by folks like you and I with Masternodes, which was a big thing in 2018. We started back then with masternodes, and like I said, we transformed them into little servers that are crisscrossed around the world. We got about 13,000 of them, and they're perfect for running websites, game servers, and all that for pennies on the dollar, which is quite amazing.
Services Offered by Influx
All right, so let's just jump straight into it. What kind of services do you offer at Influx? So what we do at influx is we do a couple of big services. One of them is, like I said, it's flux edge. With our product called Flux Core, everybody can join in and provide their own GPU's. Going from your old school, 1080 Ti, to all the way to your 4090. There's a use case for every one of them. And what that does is it allows us to basically, am I still there? Because it froze again on me. I can hear you. Go ahead. Okay, good. Damn it. So, with flux core, you can basically bring your own GPU online on the Flux edge network. And that allows us then to promote those GPU's for everybody out there to utilize them. And that can be from small startups to researchers, to full blown enterprise customers.
Decentralization and Compliance
And the way we can provide it to also to actually enterprise customers, once we have it fully live, is because we are basically able to provide also all the compliancy pieces like SoC, two ISO, all of those fun things. And that's because of the partners we built our software with. We basically allowed us to create an environment, and it's built on Suse Kubernetes. It allows us to build an enterprise grade environment, even though we're running on computers like gaming rigs, and all the way up to data centers, that's one of the services. And then the other service that we also do is we provide a white glove service, basically, corporate terms. That's a managed service where we basically help folks get things running on either flux cloud or on flux edge. Those are some of the things that influx does. And of course, we build and create as we go. We created SSP wallet, we created the Zellcore wallet. There's so much things that we have in our portfolio at this point, which is exciting.
Integration of AI and Crypto
Awesome. So I think you talked a little bit about, you know, the GPU's and AI side of things, and obviously, there's a massive AI boom that we are currently in the middle of. So I'd like you to bring your insight in the crypto side of things as well. So, how does flux, the token, or the asset, how does it integrate into all of your services? Yeah, absolutely. So, yeah, AI is booming. We don't always focus purely on the AI side of things. We see this compute, and that can be many things. But with what we see and how we use the flux coin in our environment is in multiple ways. Right? So, of course, for the flux side, we basically use it for, as a paper mechanism. So you can deposit flux. As a customer, you can deposit flux, and then you can straightaway start using our network. We even discount people if they use flux.
Flux as a Communication Tool
And on top that everybody who's providing compute power, they get paid out. That's how we registered that blockchain. It's then transitioned and transmitted all over the network, so that any masternode can pick it up and then start running your application. And that's all on top of flux. So, flux is our way of basically handshaking, communicating between all different parties. And we all use flux for that. So in even, and we see that even folks who are not in the space, they sometimes don't even realize they're using the flux coordinate, because we do allow with fiat. So you can use stripe, your paypal, all those things, we convert it in the background on exchanges like kucoin, we can convert it at the market value. We convert that to flux, then we use that flux to register people's, their applications, or their use cases.
Flux's Role in Transactions
So, for flux, for influx, flux is quite front and center when it comes to our interactions with the blockchain. For every transaction we do, even if it's paying somebody, even if it's running something, it always comes down back to the flux main chain. All right. And obviously you mentioned several things there about the integration between AI and crypto. But from my understanding, at least, the biggest constraint is AI apps and companies have require a significant amount of computing resources. So can you just dive deeper into how influx helps address this? I think you touched on flux edge previously. Perhaps now is a good time to dig deeper. Some might know, some might not know, but we live available in the world. So with that in mind, there's more compute, and then people will already be like, well, why is my card not rented then if there's more need for it?
Addressing Computing Resources
There's different use cases for everything, right? But for the heavy model training, language, model training, the type of cards that people look for is always the last h 100 since soon enough, the Blackwell chips delayed. All that in mind. Hey, Davey, I think you're breaking up. Yeah. Your connection is extremely unstable, and I think it's hard to listen to what you're saying sometimes. I'm very sorry about that asking. Yeah, no worries.
Introduction and Overview
Now. Now we can hear you. It comes back and forth, but perhaps you can just repeat your last sentence. So, basically, with flux edge and flux core, you present your cards to the network and then think of this. And basically what that allows us to do is that we decentralize the power of the GPU's as well. Where before people have to go and buy big, expensive carts or rent big, expensive cards at Amazon to fill their needs, we came with a solution where people can rent cards for a fraction of that cost. And that's what we do together with other projects as well. So we work hand in hand with other projects out there where we leverage their cards as well. So we basically, not just from our network, but we also bring data centers together and offer them as well to folks for all their needs. We also offer it up for others so that they can basically, we offer more compute power, decentralized in one spot that people can say, hey, Europe, well, we'll have data centers, or we have data centers and basically provide them.
Setting Up and User Experience
And then last but not least, the way we've set it up, you can get up and running in a matter of minutes without having much technical background to do. So. Our marketplace is set up in such a way that you pay for it. You pick your favorite software, you pick your machines you like, and you're renting, and you're off you go. It literally takes a few minutes to set it all up, and you instantly are working if you wanted to. So that's the beauty of it. And keep in mind, all of this is already working still in an alpha stage because we have so much more that we want to build out on. It's going to be pretty great once reach our final goal. The goal seems to be moving all the time. We keep adding more things and more demand or more questions or more suggestions that we get from our customers. We keep adding those on. What we originally intended versus what's already out there now has already morphed so much to meet the needs of all the customers that we have and that we're working with so far.
Differentiation from Competition
So it's pretty cool to see how a decentralized network is starting, becoming acknowledged by big players out there as well. All right, Lucas, can you. I hope that was all clear. Are you here with us, Lucas? Yes. Yes. Yes, we can. So just wanted to get your thoughts as well, because I think Davey broke up there a few times. Just wanted to know if you could also add some insight into how you guys really differentiate from competition in the same space. And you can also talk a little bit about the future plans for flux edge, if you'd like. Yeah, sure. Just a quick introduction. I'm the project manager of Flux Edge flux core, which David just talked about in the space. So what differentiates us from the competitors in the crypto space, which would be the main competitors, in my opinion, in this space would be Akash Ionet render.
Functional Advantages
But there's plenty other blockchain projects that build out what we kind of do, which is a decentralized compute network specifically focused on GPU's AI use cases and such. Right. And the biggest differences, at least for me, is that we don't really only focus on the crypto side of things. So we actually, I think, are one of the only ones, or maybe the only one, that is actually allowing fiat payments to deploy machines and rent machines besides our native crypto asset flux. Right. So to rent machines on flags edge, you can leverage fiat methods such as PayPal. You can deposit money with your bank account. And that part was really important for us because, let's be honest, we will have and have already quite a lot of customers that are not really native in the blockchain space.
Customer-Centric Features
So they don't want to handle crypto wallets like Metamask or even our own native wallet, Zelco. They just want to deposit money with their bank account or PayPal account, and then they just want to rent machines. So I think that's the main advantage between Flux Edge and these other crypto native GPU marketplaces, another one would be ease of use. I mean, if you have used Flux edge before, it's really, you can deploy something in a matter of three clicks if you go through the quick launch service offering that we have. Quick launch is basically a marketplace where we as influx list applications with already everything pre configured so we know it's working right. You can just visit the app store, click an app and deploy.
Future Developments and Integration
So that's really easy to use and fast. But of course, besides the quick launch project, we also have something we call custom deployment, which is a full fledged out way to have a complete customized application. And how we do this is basically you visit the front end and you can parse in a Kubernetes YAML file and off you go. This solution is more so for the technical folks, the developers, the AI researchers and all these kind of people that really know what they're doing. Yeah. Yes. And we basically built flux edge like a web two platform. Right? So we will have everything that you would like to see on, or that you see on AWS or lambda cloud or core weave, vast AI, all these platforms, right. So we are currently working on referrals, basically allowing you to set up a referral code, send it to people and receive rewards if people use your referral code.
Communication and Notifications
We're currently working on email notifications in case of your machine rental stopping or your deployment failing. We also have worked on demo use cases, which basically allows users to deploy certain application that we see useful or if that we want to promote or such. It would allow them to deploy those application for free for a certain timeframe. Yeah, basically make a web two focus platform, but also of course, try to include as many web free aspects to it as much as possible, which would be allowing to play with cryptocurrencies. Right now that's only our native crypto asset, Flux. But we're also looking into allowing UCT USDC stable coins. Right. Which is, I think, very nice.
Future Innovations and User Onboarding
And yeah, also maybe allowing in the future you're thinking, to allowing people to sign up with metamask or zelcore with your rep free identity. Yeah, such things. Right. Awesome. So can you also answer the second part of the question, which is more about the roadmap and your future plans, for, both flux and flux edge? Yes. So I will speak about Flux Edge. We actually just recently, released our roadmap on Docs, Flux Edge AI, which is our protocol roadmap for both Flux edge, the GPU marketplace, and flux core, the software that the machine providers have to install. That's visible on Docs Fluxhdi for the rest of 2024.
Planned Upgrades and Features
And it's quite packed with upgrades, some I already mentioned, which would be email notifications, referrals, demos, which is already pretty much done.
Traditional Invoicing and Payment Systems
We're looking into traditional invoicing so that you can, because currently you pay as you go, you have to deposit money on your flagshed account and then you spend that money. But we also want to allow people to just, you know, hook up their credit card and then rent machines. And at the end of the month they basically get an invoice and they pay the invoice month by month, basically. Other things are more so on the side, how we. What is possible from a deployment side. Right.
Current and Future Machine Rentals
So right now we only allow people to rent machines as a dedicated machine, which basically means you rent a machine as a whole, you pay for the full machine for its resources, and you own it and you can do what you want. But in the future, we actually want to look into over provisioning machines, basically shared machines, which is what traditional vps providers do. Right. When you went to a machine on the vps provider, you basically are sharing this server, perhaps with multiple people, and pay a little bit price, a little bit less hourly price for it. Right. So that's also something we're looking into on flux edge.
Workload Sharing and Clusters
Another important piece is workload sharing, which is currently, which ionet, for example, is currently doing. They actually allow you to rent multiple machines and they provide you a cluster of all of these machines in it, which basically allows you to do workload sharing. So you could rent four or five machines and use all the resources of those machines to do, for example, a render job. And it would be accomplished way faster than just renting one machine and just using that one machine resources for the job. Right.
Milestones and Release Timeline
So that's a milestone for Q four. We're currently pushing hard for the flux edge better release, which will also happen in Q four, perhaps a little sooner. End of Q three. We need to see how things are going. I think right now we really are on track with all the things we want to accomplish before the better release. But as you know, in the software business, right, things can happen. Unseen things can happen. I think we set Q four the latest, of course, but who knows? Maybe we're gonna be able to release it even sooner.
Introduction to Flux AI
And just one last question from my end, which is about flux AI. You talked about the tweet about Flux AI. Can you just dive deeper into. How. That integrates into everything that you guys are working on. Yes. So flux AI is yet another product that influx has built or is building right now. I think we're going to soon release it to the public. I think we made a tweet about this yesterday, and flux AI is basically a I chat botanical, like chat GBT, like Croc and all these other chatbots, but it's actually leveraging.
Backend Integration and Performance
It's already leveraging flux edge on the backend. So what they basically have done is that they rent GPU's on flux edge for the backend of the application. 1 second, please. All right, so that's already. The alpha stage is already live internal testing. So I think right now they have rented about seven machines on Flux edge, which right now are all 40 nineties. And they basically deployed Olama LLMs, large language models, like an AI model from Ola Llama, which is an open source model.
Deployments and User Experience
So they basically deployed that open source model on seven machines. They have a load balancer in between all of the machines, and they will allow people to basically visit the flux AI front end and use it exactly like you would use chat GPT or these other chat programs. Right. And I actually use it myself as well. And it's pretty amazing how fast, how much faster actually it is compared to chat GPT. I don't use the premium version of chat GPT, I just used a free one.
Features and Integration
But there was a noticeable difference on how fast the Fluxey chatbot was responding to my prompts compared to the free version of chat GPT. Right. So, yeah, flux AI is a different product. It has its own dedicated development team, so they have their own roadmap. I know it's also packed with quite a lot of features. Some of them are API access. You don't need to rely on the front end, and can actually leverage the flux AI bot for your own applications via the website if you want to leverage it as a support desk, chatbot AI bot, or various other use cases.
Excitement About Flux AI
So, yeah, we're really excited, or I am really excited about this project as well, because it is actually leveraging flux edge on the backend. So it's kind of our first real proof of concept of a company, even though it's the same company, but of a company leveraging flux edge machines for their service. I think there's going to be more news released about this in the coming week or two. So if you're interested in Flux AI, I would recommend to visit the Fluxcloud Twitter, and you should receive some nice news there about this project as well.
Wrapping Up and Final Thoughts
Awesome. So just before we wrap up, Lucas, I'd like to apologize to everyone again for the technical issues and that this is not financial advice, but perhaps you could just share any final thoughts you had on your end or where people can find out more information about influx. Yes, I also want to apologize. Seems like Davey or CBO had quite some technical issues, so I was basically, someone messaged me I was agreeing to jump on this Twitter space to help out, something I usually don't do because I'm a project manager.
Thanking Partners and Community
Right. But of course I'm happy to help out whenever I can. So yeah, apologies again. I hope you still enjoyed the space and got some value valuable information, and for more info just visit the flux Twitter runoff lux or the flux edge Twitter, which I joined from. If you're looking for more information about Flux Edge, also feel free to visit our website on runonflux IO, which there should be all the information about every service that influx is basically working on.
Appreciation to Kucoin
Yeah, thanks for Kucoin for having us. I think we've been partners since many years already, so we really appreciate what you guys are doing for the space, how you treated us as a project. So we're looking forward to more of these opportunities to work with you together. Awesome. Thank you so much again for substituting and coming on with a short notice, Lucas, so I appreciate that as well, and thanks everyone again for having the patience and sticking with us.
Future Engagements
Hope to have you very on very soon in the near future and I'd love to hear more about all the updates with flux. Thank you everyone.
