Fluence (FLT)

Decentralized Cloud Computing

Fluence provides a decentralized, serverless computing platform that lets developers build, host, and run applications without relying on traditional cloud providers. It uses a network of compute providers from data centers and individual computers worldwide.

Cost Efficiency and Scalability

The platform offers enterprise-grade computing at much lower costs (up to 75% cheaper) compared to centralized cloud services. It scales globally and allows users to switch providers easily, avoiding vendor lock-in.

Verifiable and Trustless Computing

Fluence uses cryptographic proofs to ensure all computations are verifiable and trustworthy. This means users can confirm that their data and computations are handled correctly without manipulation.

Use Cases

• Running decentralized applications (dApps) and peer-to-peer protocols
• Providing decentralized, verifiable compute for AI training and query execution
• Enabling open, decentralized AI models free from corporate bias
• Supporting blockchain infrastructure and cloud-native computing

Token Utility

The FLT token is used for staking by compute providers to guarantee network reliability, rewarding providers, and participating in governance decisions through a decentralized autonomous organization (DAO).

Pros

• Decentralized Cloudless Platform: Fluence offers a decentralized alternative to traditional cloud providers, removing risks like centralized control and data lock-in.
• Cost Efficiency: It provides enterprise-grade computing at about 75% lower costs compared to traditional cloud services.
• Scalability and Flexibility: Developers can deploy applications on a global network of compute providers, from data centers to personal devices, and switch providers freely.
• Trustlessness and Verifiability: Uses cryptographic proofs to ensure computations are done correctly, increasing transparency and reliability.
• Compliance and Security: Operates with certifications like GDPR, ISO 27001, and SOC2, ensuring high standards for data handling.
• Token Incentives: Providers earn FLT tokens by contributing computing resources, encouraging active participation and network growth.
• Open Governance: Users can participate in the DAO to help govern the platform and collaborate with other builders.

Cons

• Market Volatility: Like many cryptocurrencies, FLT token price can fluctuate significantly.
• Token Unlock Schedule: About 45% of tokens held by investors and the team unlock daily over a year, which might affect token supply dynamics.
• Adoption Stage: As a relatively new decentralized computing platform, it may face challenges in widespread adoption compared to established cloud providers.
• Complexity for New Users: Understanding and using decentralized computing and staking mechanisms may require some learning for beginners.

For more details, visit the official website: fluence.network

Founders of Fluence

• Tom Trowbridge: Co-founder, involved in leadership and development, also known for roles in other blockchain and tech companies.
• Evgeny Ponomarev: Co-founder, experienced developer and entrepreneur with a strong background in blockchain and software engineering.
• Dmitry Kurinskiy: Co-founder and CTO, skilled in software engineering and blockchain technology, leading technical development.

These three founded Fluence in 2017 to create a decentralized, cloudless computing platform.

Lead Investors

Multicoin Capital led a $9 million Series A funding round for Fluence.

Seed Investors

Early backers include 1kx, Blockchange Ventures, Dekrypt, Distributed Global, and Inblockchain.

Additional Participants

Other investors involved are Alameda Ventures, Angel DAO, Arweave, Hard Yaka, LayerX, OP Crypto, Peer VC, Polymorphic Capital, Protocol Labs, Signum Capital, Stakely, StreamingFast, Tiger Global, UOB Venture Management, Zerion, and several individual angel investors.

Developer Support

Cloudless Labs, the company behind Fluence’s initial development, has secured funding from these investors to build and launch the network.

Halal Status of Fluence

• Yes, Fluence can be considered halal by some Islamic finance perspectives because it is a decentralized computing platform that does not inherently involve interest (riba), gambling (maysir), or prohibited activities.
• However, there is no specific, widely recognized halal certification publicly available for Fluence.
• The halal status depends on the project's compliance with Islamic finance principles, which generally means no involvement in interest, gambling, or unethical business.
• Individual Muslims are encouraged to consult knowledgeable Islamic scholars or halal crypto screening services for personal guidance.

In summary, Fluence is likely halal if it meets Islamic finance criteria, but personal due diligence is recommended.