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Conflux

Conflux

Conflux Network: Building a multi-chain ecosystem to enable creators, communities, and markets to connect globally across borders and protocols. As the only regulatory compliant chain in China, Conflux is facilitating entry to the Asian market for other globally minded crypto projects.

The Conflux Network was founded in 2018, based on the breakthrough Tree-Graph consensus algorithm developed in the research lab of Turing Award recipient Dr. Andrew Yao.

If you would like to know where to buy Conflux, the top cryptocurrency exchanges for trading in Conflux stock are currently Binance, OKX, DigiFinex, KuCoin, and BingX. You can find others listed on our crypto exchanges page.

Sustainable Infrastructure for the global token-economy. Conflux enables creators, communities, and markets to connect across borders and protocols

Conflux is a high throughput first layer consensus blockchain that utilizes a unique Tree-Graph consensus algorithm, enabling the parallel processing of blocks and transactions for increased throughput and scalability.

As the only regulatory compliant, public, and permissionless blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia, connecting decentralized economies to strengthen the global DeFi ecosystem.

Conflux is the so-called. blockchain without permission, which is a functional copy of Ethereum and EOS. Its key differences are great flexibility and good scalability. This is achieved due to the fact that a mechanism for supporting sidechains is provided. Transactions can be implemented on them without loading the main network. The declared throughput is 4000-6000 operations per second (this speed is higher than that of Visa). This means that the blockchain is suitable for solving various problems. It can solve such an issue as the development of decentralized applications, as well as the generation of smart contracts and, of course, making payments.

Blockchain offers a flexible environment for application development. It is optimal for dApps that require scalable speed without sacrificing decentralization. Important: The system has a fixed inflation equal to 8.83% per year. Halving occurs every 4 years (the speed of creating new coins decreases). In 2020, Conflux Network became the first blockchain approved by the Chinese government. It is designed to connect the Western economy with the Asian one and ensure the secure transfer of data and assets. Infrastructure development is managed according to the principle of a decentralized autonomous organization. The weight of the participant's vote is proportional to the number of coins he has and the time during which he owns them.

The CFX cryptocurrency is used by the Conflux Network ecosystem as a means of interaction. It is involved in achieving network consensus, in managing the system, serving to pay rewards to participants. The consensus is based on the “proof of work” principle. To achieve this, a protocol called GHAST is used. It optimizes block processing. Each of them is assigned a weight determined by the structure of the tree registry. Although the main method of mining tokens using PoW consensus is mining, the Conflux blockchain also provides for the possibility of staking. Coin rates here allow you to get a yield of about 4% per year. It does this by generating new tokens. In addition to staking, CFX is used as a collateral for storage and as a pricing method for storage usage.

The goal of the founders of Conflux Network was to solve 3 key problems of the usual blockchain - insufficient security, scalability and decentralization. The launch was initiated by Fang Long, David Chow, Ming Wu and several other people. The main figure of the project is Turing Award winner Andrew Yao. Fundraising for the creation of infrastructure ended in 2018. Initially, 1 billion CFX tokens were issued. Due to their implementation, capital was raised. Many large investors and venture funds have invested in the CFX cryptocurrency. Among them are Sequoia China, Huobi Group, Shunwei and others. There was no ICO, all funds were raised privately. Part of the generated tokens remains frozen. CFX trading began in the fall of 2020. The listing on the Binance exchange took place on March 29, 2021.

Cryptocurrency CFX is considered promising, as there are various advantages associated with working with it. For example, the benefits include the ability to transfer applications that are already running on Ethereum. Also low commissions of the system. Still high security, protection against attacks at the protocol level. This can include the ability to build parallel chains and a strong team developing the system.

Blockchain uses a consensus mechanism based on PoW. This means that the CFX cryptocurrency can be mined. In parallel with the time-tested security system based on PoW, Conflux uses the tree graph protocol. It also includes economic mechanisms, such as staking. This combination allowed the creators of CFX to take the best that was in existing coins.

Bearish sentiment in the market of leading cryptocurrencies can have a negative impact on quotes. A drop in interest in bitcoin and ethereum will invariably lead to a decrease in the value of minor tokens. Therefore, one should be wary of the optimistic forecasts of experts and understand that against the background of long-term growth, drawdowns are possible at short time intervals.

Conflux is a high throughput first layer consensus blockchain that utilizes a unique Tree-Graph consensus algorithm, enabling the parallel processing of blocks and transactions for increased throughput and scalability.

As the only regulatory compliant, public, and permissionless blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia, connecting decentralized economies to strengthen the global DeFi ecosystem.

Conflux is the so-called. blockchain without permission, which is a functional copy of Ethereum and EOS. Its key differences are great flexibility and good scalability. This is achieved due to the fact that a mechanism for supporting sidechains is provided. Transactions can be implemented on them without loading the main network. The declared throughput is 4000-6000 operations per second (this speed is higher than that of Visa). This means that the blockchain is suitable for solving various problems. It can solve such an issue as the development of decentralized applications, as well as the generation of smart contracts and, of course, making payments.

Blockchain offers a flexible environment for application development. It is optimal for dApps that require scalable speed without sacrificing decentralization. Important: The system has a fixed inflation equal to 8.83% per year. Halving occurs every 4 years (the speed of creating new coins decreases). In 2020, Conflux Network became the first blockchain approved by the Chinese government. It is designed to connect the Western economy with the Asian one and ensure the secure transfer of data and assets. Infrastructure development is managed according to the principle of a decentralized autonomous organization. The weight of the participant's vote is proportional to the number of coins he has and the time during which he owns them.

The CFX cryptocurrency is used by the Conflux Network ecosystem as a means of interaction. It is involved in achieving network consensus, in managing the system, serving to pay rewards to participants. The consensus is based on the “proof of work” principle. To achieve this, a protocol called GHAST is used. It optimizes block processing. Each of them is assigned a weight determined by the structure of the tree registry. Although the main method of mining tokens using PoW consensus is mining, the Conflux blockchain also provides for the possibility of staking. Coin rates here allow you to get a yield of about 4% per year. It does this by generating new tokens. In addition to staking, CFX is used as a collateral for storage and as a pricing method for storage usage.

The goal of the founders of Conflux Network was to solve 3 key problems of the usual blockchain - insufficient security, scalability and decentralization. The launch was initiated by Fang Long, David Chow, Ming Wu and several other people. The main figure of the project is Turing Award winner Andrew Yao. Fundraising for the creation of infrastructure ended in 2018. Initially, 1 billion CFX tokens were issued. Due to their implementation, capital was raised. Many large investors and venture funds have invested in the CFX cryptocurrency. Among them are Sequoia China, Huobi Group, Shunwei and others. There was no ICO, all funds were raised privately. Part of the generated tokens remains frozen. CFX trading began in the fall of 2020. The listing on the Binance exchange took place on March 29, 2021.

Cryptocurrency CFX is considered promising, as there are various advantages associated with working with it. For example, the benefits include the ability to transfer applications that are already running on Ethereum. Also low commissions of the system. Still high security, protection against attacks at the protocol level. This can include the ability to build parallel chains and a strong team developing the system.

Blockchain uses a consensus mechanism based on PoW. This means that the CFX cryptocurrency can be mined. In parallel with the time-tested security system based on PoW, Conflux uses the tree graph protocol. It also includes economic mechanisms, such as staking. This combination allowed the creators of CFX to take the best that was in existing coins.

Bearish sentiment in the market of leading cryptocurrencies can have a negative impact on quotes. A drop in interest in bitcoin and ethereum will invariably lead to a decrease in the value of minor tokens. Therefore, one should be wary of the optimistic forecasts of experts and understand that against the background of long-term growth, drawdowns are possible at short time intervals.

Conflux Network is building a multi-chain ecosystem to enable creators, communities, and markets to connect globally across borders and protocols. As the only regulatory compliant chain in China, Conflux is facilitating entry to the Asian market for other globally minded crypto projects.

Timeline

April 5, 2022
Conflux: Powering Decentralized Commerce
April 5, 2022
Conflux: Powering Decentralized Commerce

Patents

Further Resources

Title
Author
Link
Type
Date

"What is Strips Finance?" Straight from Ming Wu their CEO

Web

February 4, 2022

Centralized vs. Decentralized Digital Currency (and Why it Matters)

Conflux Network

Web

October 30, 2021

Conflux (CFX Token) how to buy cross chain using Coinbase

Web

December 6, 2020

Conflux + TriAngle DAO AMA Recap - Conflux Network - Medium

Conflux Network

Web

December 6, 2021

Conflux 101 hosted by Gitcoin

Web

August 27, 2021

References

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