Conflux (CFX)
Last updated 09/11/2022
Official Website: https://confluxnetwork.org/
What is Conflux (CFX)?
Conflux is an open blockchain that connects Asian and Western communities and economies. To improve its scaling capabilities in comparison to existing networks such as Ethereum, the Conflux protocol includes a consensus protocol known as Tree-Graph. It is also EVM compatible, allowing its application layer to support Solidity-based smart contracts.
A Turing-complete state machine is a feature of the Conflux Network's smart contract platform, which is based on a high-throughput consensus process. Conflux uses a novel consensus mechanism that scales better than existing blockchains to determine the transaction validator based on the overall order of blocks arranged in a Tree-Graph. In addition to the Tree-Graph consensus protocol, PoW is also used. Conflux includes a native token called CFX that is used to pay transaction fees as well as reward network miners.
Conflux's transaction processing is comparable to that of the Ethereum (ETH) network, and the function of CFX is comparable to that of ETH. Users submit a gas limit and price contract, with the latter expressed in CFX.
Wallets allow users to communicate with applications in the Conflux Network ecosystem. Users can use CFX to vote in governance elections, stake their tokens to earn a fixed rate of interest on the network, or pay transaction and storage fees for the network.
Conlfux (CFX) primary principles include:
- Openness
- Inclusivity
- Permissionless
- Transparency
- Decentralization
Team
The Conflux Network's core leadership team is made up of eminent researchers, scientists, and businessmen with experience in a variety of domains, including distributed systems, computer science, cybersecurity, cryptography, game theory, economics and finance, and more.
- Fan Long - Tree-Graph Blockchain Research Institute's founding president
- YuanJie Zhang – Co-Founder
- Ming Wu - Co-Founder & Chief Technology Officer
- Andreas Veneris – Advisor
- Andreas Park - Advisor
Roadmap
The ground-breaking Tree-Graph consensus algorithm created in the research lab of Turing Award winner Dr. Andrew Yao served as the foundation for the 2018 launch of the Conflux Network. In partnership with the Shanghai and Hunan governments, Conflux established the Tree-Graph Research Institute and the Key Laboratory of Blockchain Infrastructure & Applications in 2020.
2019 April - Launch of Conflux Network's initial public testnet
2020 April 27th - Conflux Network unveiled Pontus, the initial stage of their mainnet launch sequence. It made the Conflux Network's DEX ecosystem possible
2020 July 18th – Conflux Network launched the second phase of the mainnet called Oceanus
2020 October - Thethys, the third stage of Conflux Network's mainnet launch sequence, was made public. It signalled the Conflux Network's official debut
Where to Store Conflux (CFX)
Conflux (CFX) has a wallet designed specifically for their network called Fluent Wallet. Here, you may easily transfer, receive, and store money with Conflux. Hardware wallets and HD wallets are supported by Fluent. Supported on Chrome, Firefox and Edge browsers.
Other notable wallets include:
- MathWallet
- Magic
- Cobo
- Simplehold
If you are looking for a safe and secure wallet to store your $CFX tokens offline, we recommend the leading hardware providers Ledger and Trezor.
Where to Buy and Sell Conflux (CFX)
You can Buy & Sell Conflux (CFX) here at BC Bitcoin.
You can Buy Conflux (CFX) by heading over to the Buy Coins page of our website. Conflux (CFX) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying $CFX has never been easier, simply place your order and provide your wallet address. Once your payment arrives, Conflux (CFX) will be sent directly to your wallet.
If you choose to Conflux (CFX), you can send us the coins and receive a payment to your bank account. Details and a live valuation can be found on the Sell Coins page.
Conflux (CFX) Resources
Website: https://confluxnetwork.org/
Block Explorer: https://www.confluxscan.io/
Github: https://github.com/conflux-chain
Twitter: https://twitter.com/Conflux_Network
Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.