Conflux is a permissionless Layer 1 blockchain connecting decentralized economies across borders and protocols. With a hybrid PoW/PoS consensus, Conflux provides a fast, secure, and scalable blockchain environment with zero congestion, low fees, and improved network security.
As the only regulatory-compliant public blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia. Conflux has collaborated with global brands and government entities in the region on blockchain and metaverse initiatives, including the city of Shanghai, McDonald’s China, and Oreo.
To learn more about Conflux, visit confluxnetwork.org
Conflux is an advanced blockchain network known for its innovative features and scalability. From its consensus algorithm to interoperability and staking capabilities, Conflux offers a compelling platform for decentralized applications (dApps) and digital asset transfers.
Unlike traditional linear blockchains, Conflux utilizes a Tree-Graph structure for its consensus algorithm. This distinctive approach enables the confirmation of multiple blocks concurrently. Conflux achieves higher throughput and faster confirmation times by processing blocks in parallel than many leading blockchains.
Conflux's Tree-Graph ledger seamlessly incorporates all valid blocks, including those processed concurrently. The combination of the Tree-Graph model and the GHAST chain selection mechanism enhances scalability and robustness for dApps deployed on the Conflux platform. This ensures smooth and efficient transaction processing on the network.
The Conflux Network boasts the ShuttleFlow cross-chain asset bridge, facilitating seamless transfers of digital assets across various blockchain ecosystems. This high-speed cross-chain bridge allows users to move their assets between different sustained blockchains effortlessly. It paves the way for enhanced liquidity and interoperability between blockchain networks.
While Conflux adopts a Proof-of-Work (PoW) consensus mechanism, it also incorporates inbuilt staking capabilities. This feature provides a strong foundation for innovative DeFi dApps on the Conflux blockchain. Stakers can earn a 4% annualized rate of return on their staked CFX coins, incentivizing participation and enhancing network security.
Conflux Network was conceived by Dr. Andrew Yao, a renowned scientist and Turing Award recipient. In 2018, the Conflux Foundation was established to develop an open-source application framework based on the unique Tree-Graph consensus mechanism. This mechanism sets Conflux apart from other blockchains and has garnered attention for its scalability and performance.
Conflux Network formed strategic partnerships with the governments of Shanghai and Hunan. The Tree-Graph Research Institute, established in collaboration with the Shanghai government, and the Key Laboratory of Blockchain Infrastructure & Applications, in partnership with the Hunan government, were created to drive the development and adoption of the Conflux blockchain.
The internal testnet of Conflux was launched in May 2018, followed by a successful funding round, securing $35 million for further development. The public testnet was introduced in Q2 of a subsequent year, and the Conflux mainnet went live in Q4. Conflux is China's only regulatory-compliant public, permissionless blockchain due to its unique funding approach and government support.
In 2022, the Conflux developers focused on key features to strengthen the protocol. They introduced the Proof-of-Stake (PoS) finality mechanism to complement the existing Proof-of-Work (PoW) consensus. Additionally, the integration of Ethereum Virtual Machine (EVM) functionality in Q1 extended the platform's compatibility. In Q3, Conflux IPFS integration and other improvements were made to enhance the Web3 infrastructure.
In 2023, Conflux Network, a recognized player in the Chinese market, has seen substantial growth and recognition in the crypto industry. The company has benefited from China's softening stance on crypto, providing a favorable operating environment. Conflux is unique in claiming to be the only crypto company approved to operate in China, even after the 2021 government ban on all crypto products.
Furthermore, Conflux recently received a $10 million investment from DWF Labs, a digital asset market, demonstrating support from key industry players. These developments highlight Conflux's growing acceptance in the Chinese and global crypto communities and its emerging prominence as a notable blockchain platform.
CFX is the native cryptocurrency of the Conflux Network and has the following use cases:
CFX serves as the native currency on the Conflux Network. Users need CFX to pay transaction fees when interacting with dApps, executing smart contracts, or utilizing the features of the Conflux blockchain. It is a utility token that facilitates value transfer and incentivizes network participants.
CFX is also distributed as a reward to miners who contribute to the security and validation of the Conflux network. Miners receive CFX tokens for their efforts in validating transactions and producing new blocks, supporting the PoW consensus mechanism of Conflux Network.
Conflux Network incorporates an enhanced PoW with a PoS finality consensus model. Users can stake their CFX tokens on the network and earn rewards by participating in the staking process. This mechanism allows users to grow their CFX holdings and contribute to the network's security and decentralization.
CFX can be traded against other cryptocurrencies on various exchanges, allowing users to profit from market fluctuations and volatility. Users can also choose to hold CFX as a long-term investment based on their belief in the potential of the Conflux Network. Ensure that you do your own research before investing in CFX crypto.
Users can lend their CFX tokens on KuCoin Crypto Lending and earn daily interest over a specified period. This allows users to grow their CFX holdings passively while providing liquidity to the market.
Here are some reasons why you could consider investing in CFX coin:
Conflux presents an enticing investment opportunity, particularly for those interested in diversifying their portfolios into the Web3 and DeFi sectors. With its highly efficient and scalable blockchain, Conflux offers a robust platform for developing scalable dApps and stands to benefit as Web3 adoption continues to grow.
The rising adoption of the Conflux ecosystem by dApp developers and users creates potential for the value of CFX Coin to appreciate. The increased utilization of the Conflux network, fueled by its scalability and performance advantages, could drive demand for CFX and contribute to its price growth.
The growing staking and mining activities within the Conflux network also positively impact the CFX price. Staking allows users to earn rewards by participating in securing the network, while mining involves validating transactions and producing new blocks. These activities generate interest and engagement within the Conflux community, which can influence the value of CFX.
While offering an accurate CFX crypto price prediction over time is impossible, several key fundamentals can affect price action and volatility in the Conflux cryptocurrency. These include:
The increasing adoption of the Conflux Network by developers, as they design and deploy dApps, can positively affect the CFX price. As more users access these dApps, on-chain activity grows, potentially contributing to an uptick in the Conflux coin price.
The announcement of new upgrades, partnerships, integrations, and investments by Conflux can significantly impact investor confidence. Positive developments in the project can generate bullish momentum in the Conflux market, potentially influencing the CFX/USDT price.
The overall market sentiment towards cryptocurrency assets, particularly in Web3, DeFi, and the broader crypto industry, plays a crucial role in driving the price of Conflux crypto. A favorable outlook among investors can increase buying activity, driving up the price of Conflux token. Conversely, a bearish or risk-averse sentiment may weaken the CFX crypto price.
Staking CFX tokens on the Conflux Network provides an opportunity to contribute to the network's PoS finality consensus mechanism and earn passive income. Here’s how CFX staking works:
1. Begin by creating an account on Fluent Wallet, the official crypto wallet of the Conflux Network. This user-friendly platform supports seamless staking and governance participation.
2. After creating your wallet, fund it with CFX tokens by purchasing them on supported platforms such as KuCoin. Once purchased, withdraw the tokens to your Fluent Wallet address to prepare for staking.
3. Visit the Staking section on the official Conflux Network website and connect your Conflux Wallet (Fluent) to the interface. This step sets the stage for initiating the staking process.
4. Access the Stake & Unstake section of the page. Here, specify the amount of CFX tokens you wish to stake, and follow the prompts to finalize the staking transaction.
In addition to staking, you can lock your CFX holdings to participate in the governance mechanism and benefit from voting rights. Input the number of CFX tokens in the Lock section, select your desired locking duration, review the total voting rights, and confirm the transaction to complete the locking process.
Here’s how you can mine Conflux coin on the Conflux Network:
1. Currently, mining CFX is only feasible on Nvidia systems due to the absence of an implementation of the Octopus algorithm used by CFX for AMD systems.
2. Utilize minerstat to configure CFX mining. Ensure that you have the necessary Nvidia drivers installed for smooth operation.
3. Open the address editor and create a new tag (POOL:CFX) to enter the pool's stratum address. For instance, you can use Nanopool as your mining pool. Choose a suitable stratum address from the available options provided by Nanopool.
Once these steps are completed, your Nvidia system should be ready to start mining Conflux (CFX). Remember that the crypto mining process may consume a significant amount of power, and it's important to monitor hardware temperatures to ensure safe and efficient operation.
Investors in the Conflux Foundation include Fundamental Labs, Baidu Ventures, Sequoia Capital China, and more. Conflux Network’s investors include Galaxy Blitz, DWF Labs, Shanghai Science and Technology Committee, 7 Star Capital, Bitrise Capital, BSG Group, and F2Pool.
Some of the projects and companies the Conflux Network has partnered with include Celer, Top Network, TEEX, Oath Protocol, bloXRoute Labs, Bifrost, Chainlink, and more.