Who: Conflux is a blockchain developed by FantaChain, a blockchain company based in China.
What: Conflux is a first-generation blockchain with a permissible Proof-of-Stake (PoS) consensus mechanism that offers high performance and scalability. In this way, it aims to achieve fast transaction confirmation times and high transaction volume.
When: The launch of the Conflux mainnet took place in September 2020.
Where: The Conflux network is designed to comply with China's strict cryptocurrency regulations. For this reason, it is expected to be used mainly in China-based applications. However, there is also potential for international use.
Why: Conflux was developed for applications requiring high transaction volume in areas such as finance, supply chain management and IoT (Internet of Things). Its goal is to deliver fast and secure transactions by overcoming the scalability issues faced by traditional blockchains.
How: Conflux uses a unique chain architecture called Tree-Graph. This architecture supports high transaction throughput by having multiple parallel chains connected to the main chain. Additionally, energy efficiency is ensured thanks to the PoS consensus mechanism.
Additionally: Conflux (CFX) coin is used for transactions such as payment of transaction fees and staking on the Conflux network.