Following the Research series and hot coins and tokens, GocTienAo would like to introduce to you a project: Conflux Network
In this article, we have 3 main parts:
- Conflux Network (CFX) What is it and was born to solve what problem?
- CFX and information related to coin
- Should you invest in? Conflux Network are not?
What is Conflux Network (CFX)?
Conflux Network is an open network for a world that combines digital assets and decentralized applications
What problem does Conflux Network solve?
Conflux Network was born with the aim of solving problems facing blockchains like Ethereum and Bitcoin, including:
- Ability of extension
Conflux Network does this through Tree-graph structure combined with the Proof-of-Work (PoW) mechanism, which allows parallel execution of blocks and transactions while ultimately creating a serial chain (This feature is in contrast to other blockchains, such as Bitcoin and Ethereum, processing blocks one by one)
Besides, this parallel processing will make a clear difference to help improve security more. Interesting isn’t it?
What is the Tree-Graph structure?
Conflux’s block structure is not a series but a graph and tree graph. Hence, Conflux calls it the Tree Graph structure (Tree-Graph).
The Tree-Graph structure has two edge types for each block, Parent Edge and Reference Edge.
Here “edge” refers to the referential relationship between blocks. When a block references another block, an edge is formed.
In the queue example, “edge” is equivalent to quoting the person in line before you. Through this edge we can know that others are ahead of you.
Conflux stipulates that each block has only one Parent Edge, which means that when a miner encapsulates a new block, he must choose a previous block as the parent block. Only one parent block is allowed. There cannot be multiple parent blocks.
In addition to the Parent Edge, each block must refer itself to other non-referenced blocks on other branches, thus forming a Reference Edge. The role of the Reference Edge is to show that the referenced forked blocks precede the newly added block itself, which represents the front and back sequence. Each block has no or more Reference Edges.
When just looking at the Parent Edge, the entire Conflux structure is a tree:
When just looking at both the Reference Edge and the Parent Edge, the whole structure is a graph:
Outstanding features of Conflux Network
Scalable – Extensibility
Decentralized applications (Dapps) can take advantage of high throughput rates of 3000-6000 TPS and low transaction fees.
Versatile – Flexible
Conflux Network is an open network to build:
- financial applications
- digital assets
- business applications
- data economies
Secure – Confidentiality
The PoW consensus mechanism has been tested many times with enhanced security and Anti-reentrance attack protection at the protocol level.
Conflux Network Ecosystem
Conflux Network is powering open finance through its ecosystem of protocols, exchanges, and cross-chain applications, on which the next generation of DeFi is built.
ShuttleFlow provides cross-chain asset functionality between different blockchains and the Conflux Network to create a secure, efficient, and simple user experience for moving assets across public chains. The Conflux Foundation provides resources for further development and the members of the ShuttleFlow Alliance will collaborate to maintain it.
Dual Protocol: BoomFlow & MatchFlow
Dual Protocol applies the mechanism of “off-chain connection & on-chain settlement”. With Dual Protocol dual ledger, on-chain and off-chain data will always be identical while responding to user requests. Dual Protocol provides an operating system as convenient as a centralized system while ensuring ownership of their assets and privacy.
Discover Conflux Network transactions, blocks and tokens through the block-explorer created by the Conflux team.
Interacting with Conflux Network and managing assets with a wallet unlocks the power of blockchain on your computer.
Participate in the development of Conflux Network through participating in Conflux Network community events, building integrations with other applications, etc.
High speed and 0 GAS! Next Generation Protocol for DEX, First AMM DEX running on Ethereum L2, powered by Conflux Network and Cross-Chain Asset ShuttleFlow Protocol
DEX exchange operated by Conflux Network using BoomFlow and MatchFlow.
A DeFi application to earn interest through lending and borrowing on Conflux Network.
A decentralized marketplace on the Conflux Network for the demonstration and trading of digital collectibles (non-fungible tokens / NFTs).
Information about coins
What is CFX?
CFX is the native coin of Conflux Network
- Ticker: CFX
- Blockchain: Conflux
- Circulating supply: not provided
- Total supply: 10,000,000,000 CFX (information from Conflux mods)
The initial amount of coins is 5,000,000,000 (5 billion). All of these coins are locked at mainnet launch and will then be released gradually, over a monthly period. These initial coins will be divided among the following parties:
- Ecosystem Fund: 40% (unlocked over 4 years)
- Genesis Team: 36% (unlocked over 4 years)
- Private Equity Investors: 12%
- Community Fund: 8% (unlocked over 4 years)
- Foundation Holdings: 4% (unlocked monthly over 2 years)
Present CFX What floor are you on?
Currently, CFX has been traded on exchanges such as MXC.COM, Gate.io…
do not have
Team, Partners and Investors & Advisors
Team & Advisors
Conflux Network is backed by a global group of strategic partners including prominent investors, enterprises, governments, universities, mining operators, wallets, exchanges and decentralized technology.
Founded in 2018, Conflux raised $35 million through a private token sale from prominent investors in China, including private equity firm Sequoia China, Huobi Group, Shunwei Capital and Rong360
completed the roadmap
Media channel of the project
Should you invest in the project?
Through what GocTienAo shared with you, I hope that you have grasped a part of the project and can make your own investment decisions!
The above article has provided you with an overview to details of the Conflux Network project. Hope GocTienAo has given you useful information about the project. If you find it interesting, please share the article with your friends!
All investment statements above are personal. All investment decisions are made by you and you are responsible for your assets. Good luck!
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