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Information about Conflux (CFX)
Conflux is a new secure and reliable public blockchain with very high performance and scalability. It can achieve the same level of decentralization and security as Bitcoin and Ethereum but provide more than two orders of magnitude improvement on transaction throughput (3000 – 600 TPS) and finality latency.
Conflux is based on a novel Tree-Graph consensus mechanism that optimizes for security and scalability, without sacrificing decentralization. The Tree-Graph architecture allows parallel processing of blocks and transactions, while eventually forming a final serial chain. This feature contrasts other well-known networks like Bitcoin and Ethereum, which process blocks strictly one-by-one, and is what gives Conflux its speed and scalability. Conflux employs account model and supports the smart contract. Its smart contract is compatible with Solidity, which is Turing complete, as used in Ethereum. Thus, Conflux allows developers to build decentralized applications on the platform easily.
CFX is a native token of the Conflux ecosystem and can be used to:
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News
Public layer-1 blockchain project Conflux Network announced in its official statement that it has formed a partnership with Chinese e-commerce giant Alibaba Cloud.
This collaboration aims to revolutionise retail, tourism, entertainment, arts, education and other sectors with cutting-edge technology in the Hong Kong market.
This partnership will leverage Conflux’s blockchain infrastructure to explore various fields.
The agreement outlines joint development, application, and promotion in areas such as video ringtones, digital identity (DID), and blockchain communication hardware on the Conflux public chain.
Conflux Co-Founder and CTO Wu Ming revealed that Conflux is currently developing and applying a Layer 3 expansion plan compatible with Bitcoin.
Conflux is planning and has already started building the first Bitcoin Layer 3 expansion example, aiming to construct a ‘win-win’ solution with Bitcoin.
The Belt and Road Initiative (BRI), launched by President Xi Jinping in 2013, aims to connect China with continents across the globe through a network of infrastructure projects.
As part of this initiative, the new blockchain platform will enable participating countries to monitor and manage cross-border economic, trade, and cultural activities, thereby facilitating smoother international collaboration.
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