The #Conflux (#CFX ) project is a cryptocurrency project that specifically enables creators, communities and markets to connect across borders and protocols.
A highly efficient first-layer consensus blockchain, Conflux enables parallel processing of blocks and transactions using a unique Tree-Graph consensus algorithm, resulting in increased throughput and scalability. #BTC #ETH
Conflux has created the first digital yuan as the only regulatory-compliant, public and permissionless blockchain in China, providing the People's Republic of China government with the opportunity to test the Digital Renminbi. In this way, Conflux strengthens the global #DeFi ecosystem, providing a unique advantage for projects spanning Asia.
The team explains their mission on their official website: "The path to globalization and connectivity is accelerating thanks to blockchain and other emerging technologies – but obstacles still exist. Our mission is to be a catalyst for the borderless economy." explains as follows.
Additionally, Conflux aims to overcome the problem of unpaid smart contract space occupation and offers users ongoing contract maintenance costs by providing an economic incentive. In this way, users can avoid wasting resources.
Overall, Conflux is a blockchain project that makes it easy for creators, communities, and markets to connect across borders and protocols, using a unique Tree-Graph consensus algorithm that provides high throughput and scalability. Additionally, it prevents users from wasting resources by providing economic incentives, overcoming the problem of unpaid smart contract space occupation.
As a decentralized blockchain project, Conflux prefers openness over regulation. It also promotes inclusivity and equitable access and is designed to facilitate the transfer of value in an efficient, permissionless manner.
The team states that it works for full transparency from the community and stakeholders and that they are aware of its shortcomings. Conflux's consensus algorithm is specifically designed to maximize security and scalability by prioritizing decentralization.
The Conflux Foundation is a non-profit organization established to counteract unbalanced allocation of resources and provide incentives to encourage early-stage network participation and development.
CFX coin is a cryptocurrency used for transactions on the Conflux network and plays a similar role as Ether on the Ethereum network. Users submit their transactions in CFX along with a gas limit and gas price.
The Conflux network holds a total of 5.8 billion CFX tokens, but the total supply visible on CoinMarketCap is approximately 2.8 billion. Once the project's mainnet is launched, tokens are locked and then released monthly.
Conflux Foundation holds 200 million CFX tokens and these tokens will be used to support its long-term financial needs. The tokens allocated for the community fund and ecosystem fund are also 400 million and 2 billion CFX, and these funds will be used for marketing, community building and investing in promising dApp projects.
Tokens will be unlocked at different times. The founding team, called the Genesis team, will be given 1,800 million CFX and the tokens will be unlocked within 4 years.
Conflux stands out as a project with features such as openness, inclusiveness, permissionlessness, transparency and decentralization. Conflux Foundation is a non-profit organization established to properly allocate resources and encourage early-stage network participation/development.
This article is for informational purposes only and is not a recommendation for personal investment decisions.
