Conflux is a Layer-1 blockchain network that supports decentralized applications (dApps) with high throughput, scalability, and decentralization. The blockchain utilizes a Proof-of-Work (PoW) consensus for enhanced security at the protocol level.
Conflux Network’s Tree-Graph consensus algorithm differentiates it from Bitcoin and other competitors. This mechanism allows the network the power of parallel processing of blocks, significantly increasing transaction processing capabilities and lowering confirmation time.
The blockchain is also developer-friendly, thanks to integrating popular tools and programming languages into the developer environment. This encourages dApp development activities and helps build the Conflux ecosystem rapidly.
CFX is the native crypto asset of the Conflux Network. It is used to pay transaction fees, earn rewards via staking, rent storage, and participate in the blockchain’s governance mechanism.