$CFX
Conflux (CFX) is the native cryptocurrency of the Conflux Network, a scalable public blockchain platform designed for decentralized applications (dApps), decentralized finance (DeFi), and Web3 projects.
Key Features:
1. Unique Consensus Algorithm: Conflux employs a novel consensus mechanism called Tree-Graph, which integrates elements of Proof-of-Work (PoW) to enhance security and scalability. This enables the network to process multiple blocks and transactions concurrently, achieving high throughput.
2. Interoperability: It supports cross-chain interactions through its ShuttleFlow protocol, enabling seamless transfers between different blockchains.
3. Smart Contract Compatibility:Conflux is compatible with Ethereum Virtual Machine (EVM), allowing Ethereum smart contracts to migrate to its platform easily.
4. Decentralized Applications:It provides an open platform for developers to build dApps with reduced fees and high scalability.
Use of CFX:
CFX is used for transaction fees, staking, network governance, and incentivizing miners. It also serves as a store of value and medium of exchange within the network.
Market Stats:
- Current Price: Approximately $0.22
- Market Cap: $1.04 billion
- Circulating Supply: Around 4.72 billion tokens (maximum supply is 5.57 billion).
Conflux has been notable for its efforts to expand blockchain adoption, particularly in Asia, and has even partnered with entities like China Telecom for innovative projects.
