Conflux Research Hub | CFX information, history and analysis
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:
- Pay for transaction fees in the network.
- Incentivizes and rewards miners, who ensure the secure operation of the network.
- CFX holders can vote on network governance decisions.
- The network will distribute rewards on all staked tokens at a fixed rate of 4%.
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.
Conflux Network introduced its new stablecoin
According to Decrypt, Conflux Network, known as China’s MATIC, introduced the Hong Kong Dollar-Backed Stablecoin AxHKD.
Created by local fintech company AnchorX, the stablecoin will be launched first on the Conflux network, followed by the Ethereum (ETH) network.
Conflux partners with BlockBooster
Conflux has established a strategic partnership with Asian venture capital studio BlockBooster to support projects in the areas of Web3 infrastructure, social platforms, and gaming.
This partnership will help drive the growth of these sectors and contribute to the overall development of the blockchain ecosystem.
Conflux adds EVM-compatible solution to interact with Bitcoin
Layer 1 blockchain Conflux Network is developing an “EVM-compatible” solution focused on interoperability with Bitcoin.
This solution will allow the transfer of Bitcoin and inscription-based tokens between the Conflux and Bitcoin networks.
LayerZero partners with Conflux
LayerZero, the cross-chain messaging protocol, is partnering with Conflux, a Singapore-registered public blockchain, to expand into the Asia Pacific region.
This partnership enables users of Conflux’s blockchain-enabled SIM cards to transfer assets and messages between chains using LayerZero.
Conflux (CFX) peaked at 9,822 VNDC, up 178% in the past 1 week
CFX , the utility and governance token operating on the Conflux ecosystem, is currently ranked 2nd in the Top Gainers on the ONUS app with a 24-hour trading volume of $436.78 million.
Looking at the broader time frame, this asset has witnessed a spectacular growth of 1610% in just 3 months.
Conflux raises $10 million from DWF Labs in token round
Conflux, a Layer 1 blockchain developer, raised $10 million from DWF Labs.
The investment will help Conflux expand its technology and grow its user base, DWF Labs said Wednesday.