What is Conflux ($CFX )?

What is CFX coin? Conflux is a cryptocurrency project that enables creators, communities and markets to connect across borders and protocols. Conflux is a highly efficient first-layer consensus blockchain that uses a unique Tree-Graph consensus algorithm, enabling parallel processing of blocks and transactions for increased throughput and scalability.

Conflux, the only regulatory compliant, public and permissionless blockchain in China, has created the first digital yuan, providing the People's Republic of China government with the opportunity to test Digital Renminbi. Conflux provides a unique advantage for projects spanning Asia, connecting decentralized economies to strengthen the global DeFi ecosystem.

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.” he explains.

Conflux also aims to tackle the issue of unpaid smart contract space occupation. In Ethereum, when initiating a new contract, a user only pays at the time the code is included in the chain, while the community as a whole faces the burden of maintaining the contract. Conflux offers ongoing contract maintenance costs, which gives users an economic incentive to avoid wasting resources.