Conflux Network (CFX) is a utility-based cryptocurrency token issued to operate within the Conflux network's ecosystem. Conflux Network is an open protocol for a new space of DApps, finance, and Web 3.0. Conflux Network is a quick and secured public blockchain that combines proof-of-work and a tree-graph structure to originate a new generation of decentralized commerce^[1][2]. 

Overview

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Conflux Network is an open network that was built to drive the next generation of global commerce by unlocking the decentralized applications and digital assets of tomorrow. Conflux enables a secure and interoperable flow of assets and data across protocols and applications to create an 'internet of value' for everyone. Conflux Protocol's public, permissionless blockchain is powerful and developer-friendly^[11].

It is a layer-1 blockchain protocol that offers heightened scalability, security, and extensibility for the next generation of open commerce, decentralized applications, financial services, and Web 3.0.

The Conflux network provides significant performance improvements with its processing of parallel blocks in a Directed Acyclic Graph (DAG) structure, which lowers confirmation times and increases transaction throughput substantially. The Conflux consensus algorithm operates with a special Directed Acyclic Graph (DAG) structure known as Tree-Graph.

By integrating proof of work into a Tree Graph architecture, Conflux delivers a robust network with Solidity compatibility, zero congestion, and low fees. It is a Proof-of-work system (PoW) blockchain network that allows the parallel processing of blocks and transactions, while eventually forming a final serial chain.

This feature is in contrast with other well-known networks, such as Bitcoin (BTC) and Ethereum (ETH), that process blocks strictly one-by-one. The parallel processing creates economic incentives for miners that are notably different from serial chains.

Fostering entrepreneurship and innovation, Conflux elevates startups and organizations across industries and continents to generate decentralized marketplaces and digital assets for meaningful business and social impact.

Conflux also intends to surmount the problem of the unpaid smart-contract space occupation. The Conflux Protocol also introduces ongoing costs of contract maintenance which gives users an economic incentive to avoid wasting resources^[3][4]. 

History

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Conflux Network originated from the research lab of Turing Award recipient Dr. Andrew Yao at Tsinghua University. The Network is supervised by a global team of world-class engineers and innovative computer scientists.

The CFX cryptocurrency project and the Conflux Network is a continuous research that was built to provide a solution to the ‘blockchain trilemma’ problem with a novel Tree-Graph consensus mechanism that optimizes security, scalability, and decentralization.

In 2018, the Conflux Foundation came to bear, and a regulatory compliant fundraise was issued to build an open infrastructure based on this breakthrough consensus mechanism. Shortly after, Conflux established itself as the only state-endorsed public, permissionless blockchain in China. As respected advocates of public Blockchain infrastructure in China, Conflux is advancing the education and research in blockchain development.

In 2020, Conflux established the Tree-Graph Research Institute in partnership with the government of Shanghai and the Key Laboratory of Blockchain Infrastructure and Applications with the government of Hunan.

Conflux has also expanded its global operations and community with a diverse distributed team of more than 50 members across over four continents, including offices in Toronto, Canada, and Lagos, Nigeria^[5]. 

Features

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Conflux Network's (CFX) Internet of Value (IoV) cryptocurrency platform offers the following key features:

Scalability:

The Conflux Network's Future-ready Decentralized applications can leverage a high throughput rate of 3000-6000 Transactions per second and offers its users low transaction fees.

Versatility:

Conflux Network is an open network that supports building new financial applications, digital assets, business applications, and data economies.

Security:

The Conflux Network has a highly tested and trusted Proof-of-work consensus mechanism with increased security and Anti- Reentrance attack protection at the protocol level^[1]. 

Ecosystem

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Conflux Network's ecosystem is a platform where users can discover a growing array of next-generation tools, protocols, and applications within the network's innovation playground. The following functions are embedded within the Conflux Network's ecosystem:

Conflux DeFi :

Conflux Network is powering open finance through its Ecosystem of cross-chain protocols, exchanges, and applications that are the 'legos' to build the next-generation of DeFi.

ShuttleFlow:

Conflux' ShuttleFlow provides cross-chain asset functionality between various Blockchains and 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 ShuttleFlow Alliance members aim to maintain it collaboratively.

Dual Protocol-BoomFlow and MatchFlow:

The Dual Protocol adopts an "off-chain matching and on-chain settlement" mechanism. With this twin ledger under the Dual Protocol, the on-chain and off-chain data will remain identical all the time while lively responding to users' requests. The Dual Protocol provides an Operating system as convenient as a centralized system while ensuring their asset ownership and privacy^[6]. 

Ecosystem's Infrastructure

Conflux Network's ecosystem has the following featured as part of the Conflux' infrastructure:

ConfluxScan :

Creating a Simple DApp Using ConfluxPortal
Exploring the Conflux Network transactions, blocks, and tokens can be done through an easy to use block-explorer created by the Conflux team.

ConfluxPortal :

Users can find interaction with Conflux Network and can also manage their assets using a simple browser-based wallet that unlocks the power of the blockchain on the user's computer.

ConfluxBounty :

Users can participate in growing the Conflux Network through joining the platform's community events, building integrations with other applications, and others.

Products

Conflux Network's ecosystem offers the following products on its platform for users and prospective users:

MoonSwap :

This gives users access to high-speed and 0 GAS. MoonSwap is the Next-Generation Protocol for DEX, it will be the first Automated Market Maker (AMM) DEX running on Ethereum L2, and it is also supported by Conflux Network and Cross-Chain Asset Protocol ShuttleFlow.

MoonDEX :

The MoonDEX is a crypto-product on Conflux Network. It is a decentralized order-book exchange powered by Conflux Network using BoomFlow and MatchFlow.

Flux:

Flux is a proposed product of the Conflux Network. It will operate as a DeFi application for earning interest through lending and borrowing on Conflux Network.

Tspace:

NFTs have been on the increase lately. So also on the Conflux Network, the Tspace is a proposed product that is to function as a decentralized marketplace on Conflux Network. This space was built so that users can demonstrate and trade digital collectibles- Non-Fungible Token (NFT).

Tech-Features

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Conflux Network's (CFX) technology has the following featured on its platform:

Accessible Tooling :

Users can build applications in an Ethereum Virtual Machine-compatible environment with Solidity smart contracts and Conflux Truffle. Interact with Conflux Network through a familiar browser-based wallet and SDKs in JavaScript and Go (programming language).

Deploying Smart Contract Using SDK

Improved Capabilities :

The Network's users can Leverage scalability and low transaction fees through the ShuttleFlow cross-chain asset protocol. Create new applications using a comprehensive IDE like Conflux Studio for enhanced development experience.

Unique Features :

The Conflux' user's experience can be simplified by utilizing the transaction sponsorship mechanism. Leverage the built-in staking interest to provide a foundation for innovative financial applications.

Tokenomics

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Conflux Network (CFX) is a cryptocurrency token issued by the Conflux' network and is utilized within Conflux' Network. The ticker symbol of the token is denoted as CFX and it has a total supply of 10,000,000 CFX. CFX recorded an all-time high of $0.134017 USD on the 13th of November, 2020, and an all-time low of $0.076603 USD on the 11th of November 2020. CFX has been listed on MXC  centralized exchange and it is currently traded actively on its platform^[7]. 

Conflux: Africa's Shore

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Conflux Network launched its Testnet in 2019 and is already entering Africa's commerce. Conflux hopes to be opened to more business integration in Africa and intends to contribute to the growth of the Crypto-Blockchain industry within the Africa community. The African project is a win-win for both Conflux and the African community. Conflux is looking to establish a concrete community of developers and miners and also intends to partner with local exchanges. Africa's market is one of Conflux’s top priorities not just for brand recognition, but also for the advancement of the blockchain industry. In recognition of the African market and its potential, Conflux has decided to appoint an African representative, which simply implies close proximity between Africa and Conflux Network. 

Investors

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Founded in 2018, Conflux Network has raised $35 million in capital from prominent investors including Sequoia China, MetaStable, Baidu Ventures, F2Pool, Huobi, IMO Ventures, and the Shanghai Municipal Science and Technology Commission^[8].

Social Media

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Conflux Network (CFX) is active on social media and the organization could be reached on the following platforms- Twitter, KakaoTalk, WeChat, Telegram, Weibo, Medium^[10], and Discord^[9].