$0.0554

Conflux (CFX) is a public layer-1 blockchain designed to support decentralized applications, e-commerce, and Web 3.0 infrastructure, aiming to offer scalability, decentralization, and security. It facilitates the transfer of valuable assets quickly and efficiently, with low transaction costs and minimal congestion. The platform uses a Tree-Graph consensus mechanism that combines Proof-of-Work and Proof-of-Stake to achieve network agreement. It supports Turing-complete smart contracts written in Solidity, making it compatible with the Ethereum Virtual Machine. The native token, CFX, incentivizes participation, covering transaction fees, governance, and rewards for miners securing the network.

Conflux was established in 2018, with underlying technology developed since 2017. It focuses on blockchain education and research via the Tree-Graph Research Institute in Shanghai. The project is led by founder Fan Long, a programmer specializing in blockchain and cybersecurity. Long graduated from Tsinghua University and earned a Ph.D. in Computer Science from MIT, where he received the Best Dissertation Award. He is an assistant professor at the University of Toronto. Co-founders include YuanJie Zhang, Ming Wu as CTO, and research director Guang Yang. The core team comprises scientists, business managers, and researchers. The Tree-Graph consensus was developed by Professor Andrew Chi-Chih Yao, a Turing Award winner, fellow of the Chinese Academy of Sciences, and chief scientist of the Conflux Foundation.

Conflux stands out due to its technical architecture addressing industry challenges for developers and users. Its cross-chain protocol, ShuttleFlow, enables asset transfers to networks like Ethereum, Binance Smart Chain, Huobi Eco Chain, and OKEx Chain. Developers benefit from a decentralized, secure, and scalable network with tools that comply with regulations, allowing creation of multi-chain, censorship-resistant dApps. The Tree-Graph consensus algorithm ensures scalability without compromising decentralization, processing 300–6000 transactions per second through parallel block and transaction processing. This scalability leads to lower fees compared to Ethereum. Additionally, the Fee Sponsorship Mechanism allows sponsors to cover transaction fees, enhancing user experience.

CFX is the native token of Conflux, used for transaction fees, value storage, staking rewards, and miner incentives. Holders can participate in network governance. As of March 2023, the circulating supply is 2,654,264,782 CFX out of a total supply of 5,278,164,274 CFX. The distribution allocates 40% to an ecological fund, 36% to the core team and seed investors, 16% to private investors and reserves, and 8% to a community fund.

Conflux employs the Proof-of-Work consensus mechanism alongside the Tree-Graph algorithm, providing robust security at the protocol level. This ensures safe transactions and protection against attacks. Miners are rewarded with CFX tokens for their contributions, promoting long-term network reliability and incentivizing continued participation.

As of March 2023, Conflux (CFX) is available on exchanges such as Binance, KuCoin, OKX, Gate.io, Bitget, BKEX, Phemex, Indodax, MEXC, LBank, CoinEx, Tokocrypto, DigiFinex, Deepcoin, and XT.COM. Coinasity shows the live CFX price, averaged across major exchanges.