Conflux is a permissionless, public Layer 1 blockchain designed to connect decentralized economies across borders. It offers fast, scalable, and robust compatibility with low costs and no congestion. Notably, Conflux is the only regulatory-compliant, public, and permissionless blockchain in China, providing a unique advantage for projects aiming to expand into Asian markets. A key innovation of Conflux is its use of a Proof-of-Work consensus mechanism that enables parallel processing of blocks and transactions, achieving high throughput speeds of 3000–6000 TPS.
Understanding CFX Coin
CFX is the native utility token of the Conflux platform, launched in 2018 under the guidance of renowned Chinese computer scientist Dr. Andrew Chi-Chih Yao. With a maximum supply of 5,278,164,274 coins, CFX serves several essential functions within the ecosystem: facilitating payments, covering transaction fees, earning staking rewards, renting storage space, and participating in network governance. It also incentivizes miners who help secure the network.
Core Features of Conflux
Conflux stands out due to several groundbreaking features:
Scalability
With a processing speed exceeding 3000 TPS, Conflux allows decentralized applications to run smoothly, offering users an experience comparable to centralized systems.
Diversity
The platform supports the development of innovative financial applications, digital assets, commercial tools, data economies, and various other use cases.
Security
Conflux employs a rigorously tested Proof-of-Work consensus mechanism that enhances security and protects against recent types of protocol-level attacks.
Tree-Graph Structure
Unlike traditional blockchains, Conflux can validate multiple blocks simultaneously. This parallel processing reduces confirmation times and significantly increases transaction throughput.
Advantages of Conflux
High Throughput: Conflux’s unique Tree-Graph algorithm allows parallel processing of blocks and transactions, reducing confirmation times and increasing TPS.
Robustness: The use of a battle-tested PoW consensus enhances security and provides protection against protocol-level attacks.
Compatibility: ShuttleFlow, a cross-chain asset bridge built on Conflux, enables seamless asset transfers between multiple protocols.
Scalability: Conflux offers unprecedented scalability, eliminating the consensus bottlenecks common in other blockchains without sacrificing security or decentralization.
Integrated Staking: Native staking offers a foundation for innovative DeFi applications. Staking on Conflux provides an annual yield of 4%, generated through token issuance.
Low Fees: Conflux’s fee sponsorship mechanism allows users with zero balance to participate in the blockchain. Sponsors can cover part or all of another user’s transaction fees to improve accessibility.
Transparency: Conflux operates as a fully transparent protocol, maintaining open communication with the community and stakeholders.
Decentralization: Decentralization is a core principle of Conflux’s organization and project design. Its consensus algorithm maximizes security and scalability without sacrificing decentralization.
Conflux Tokenomics
Overview:
- Name: Conflux
- Ticker: CFX
- Type: Coin
- Platform: Conflux Network
- Algorithm: Proof-of-Work
- Total Supply: 5,278,164,274 CFX
- Circulating Supply: 2,654,299,854 CFX
- Launch Date: November 2020
- Initial Listing Price: $0.083 per CFX
Token Allocation:
The total supply of CFX is allocated as follows:
- 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% (monthly unlock over 2 years)
Use Cases for CFX Coin:
CFX tokens are used for:
- Paying transaction fees on the platform
- Earning staking rewards
- Receiving mining rewards
- Participating in network governance
- Trading on exchanges
The Conflux Ecosystem
The Conflux ecosystem includes a growing number of dApps, integrations, and partnerships. Some notable projects include:
Swappi: A leading decentralized exchange on Conflux eSpace that allows users to swap, stake, and earn tokens.
Goledo: A cross-chain lending and borrowing protocol based on Aave. Depositors earn passive income, while borrowers can access over-collateralized and under-collateralized loans.
Nucleon: A staking solution for Conflux PoS, supported by top-tier staking providers. It allows users to stake CFX without locking assets or maintaining infrastructure.
Flux: A lending protocol that adjusts interest rates for crypto assets automatically and decentralically, encouraging liquidity.
Sacred: A multi-chain DeFi platform offering private, yield-generating deposits. It uses ZK SNARK proofs to ensure privacy and security.
DeCus: A decentralized, high-performance cross-chain platform dedicated to bringing Bitcoin into the DeFi ecosystem.
Other ecosystem products include Fluent Wallet (a web-based wallet), Conflux Triffle (an EVM-compatible environment), Conflux Studio (a graphical IDE for deploying smart contracts), and SDKs for developers.
Conflux Roadmap
2018:
- Project launch
- Internal testnet release
- $35 million raised in funding
2019:
- Public testnet launch
- Hangzhou Application Center established
2020:
- Tree-Graph Shanghai release
- Mainnet Phase 1: Pontus - DEX Ecosystem
- Mainnet Phase 2: Oceanus - PoW Mining
- Mainnet Phase 3: Tethys
Development Team, Investors, and Partners
Core Team:
Conflux was co-founded by Fan Long, YuanJie Zhang, and Ming Wu.
- Fan Long (Co-Founder): A graduate of Tsinghua University with a Ph.D. in Computer Science from MIT. He has two gold medals from the International Olympiad in Informatics and won the ACM-ICPC regional championship.
- YuanJie Zhang (Co-Founder): Holds a bachelor’s degree from Fudan University and a master’s from Brandeis University. He has extensive experience in investment, capital markets, and business operations.
- Ming Wu (Co-Founder & CTO): Earned a Ph.D. in Computer Science and was a senior researcher at Microsoft Research Asia.
Advisors: Andreas Veneris and Andreas Park.
Investors: Conflux raised $50 million through seed, grant, and funding rounds from investors like Sequoia Capital China, IMO Ventures, Huobi Capital, Metastable Capital, F2Pool, Shanghai Science and Technology Committee, and DWF Labs.
Partners: Information will be updated as new partnerships are announced.
How to Buy Conflux (CFX)
CFX is listed on numerous cryptocurrency exchanges worldwide. While it cannot be purchased directly with fiat currencies like VND, it can be easily acquired using the following steps:
Step 1: Purchase USDT with your local currency. Reputable exchanges like Binance offer a secure and low-cost way to buy USDT.
Step 2: Transfer USDT to an exchange that lists CFX, such as MEXC, Gate.io, or CoinEx, and trade it for CFX.
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Storing CFX: Wallets and Options
CFX can be stored in various wallets, including:
- Hardware wallets like Ledger Nano and Trezor
- Software wallets like MathWallet, Fluent Wallet, Mixpay, and Atomic Wallet
Many users also choose to store CFX on major exchanges like Binance, MEXC, Gate.io, and CoinEx for convenience.
Frequently Asked Questions
What makes Conflux different from other blockchains?
Conflux uses a unique Tree-Graph structure combined with Proof-of-Work consensus, enabling high throughput and scalability without compromising security or decentralization. It is also the only regulatory-compliant public blockchain in China.
How can I earn rewards with CFX?
You can earn rewards by staking CFX tokens, which currently offers an annual yield of around 4%. Additionally, miners can earn CFX through securing the network.
Is Conflux a good investment?
As with any cryptocurrency, investing in CFX involves risk. However, its technological innovations, strategic positioning in Asia, and growing ecosystem make it a project with significant potential. Always conduct your own research before investing.
What is the total supply of CFX?
The total supply of CFX is capped at 5,278,164,274 coins.
Can I use Conflux for decentralized applications?
Yes, Conflux supports a wide range of dApps across DeFi, NFTs, gaming, and more, thanks to its high throughput and EVM compatibility.
How do I participate in Conflux governance?
CFX holders can participate in network governance by staking their tokens and voting on proposals that shape the future of the ecosystem.