Conflux (CFX) Price

Conflux seeks to make cryptocurrency faster while still complying with rules in China, which has not been seen as the most crypto-friendly government.

Conflux (CFX) is a cutting-edge DeFi ecosystem that aims to foster cross-border, multi-chain collaboration in the Asian blockchain industry. In many ways, the network is unusual. Notably, it is now the only state-endorsed public blockchain running in China. As a result, through the Tree-Graph Research Institute in Shanghai, the company plays an important role in advancing market education and research. 

Conflux Features and Updates

Conflux also intends to include the following features:

High Throughput - The platform employs a groundbreaking Tree-Graph consensus method that employs parallel processing of blocks and transactions to reduce confirmation periods and boost transaction system throughput (TPS).

Conflux employs a proof-of-work (PoW) consensus to provide security and anti-reentry attack protection at the protocol level.

ShuttleFlow is an interoperable cross-chain asset bridge built on Conflux that aims to facilitate seamless asset transfers between several protocols.

Scalability - Conflux aims to eliminate the consensus bottleneck without losing security or decentralization.

Already built-in Staking - The built-in staking reward aims to provide a foundation for innovative DeFi apps.

Low Fees – Conflux's fee sponsorship model lets users with no wallet balance participate in blockchain activities.

Conflux's goal is to produce open-source software that anybody may alter, share, and benefit from. Openness promotes blockchain's dependability and security.

Inclusion - The platform aims to provide equal and open access to emerging technology.

Conflux aims to smooth the secure transfer of valuable assets for nominal fees, allowing everyone to participate in and take advantage of the global economy.

On the platform, CFX is a unit of value that allows token holders to earn rewards through staking, pay transaction fees, rent storage, and participate in network governance. CFX also aims to incentivize and reward miners for guaranteeing the network's security. Conflux coin is intended to be a means of exchange as well as a unit of account for blockchain-based data. Furthermore, CFX can be utilized as a store of value to maintain long-term incentives for the various stakeholders to use the chain. The native token also attempts to compensate network miners, who are critical to the network's operation and security.

Conflux Team

The Conflux Network was established in 2018. The platform was created in Dr. Andrew Yao's Turing Award-winning research lab. Conflux Network's key leadership team includes Fan Long, founder and president Tree-Graph Blockchain Research Institute, YuanJie Zhang, cofounder and chief technical officer, and Andreas Veneris and Andreas Park as consultants.