Conflux (CFX) is a blockchain project designed to solve the “blockchain trilemma” by combining Proof of Work (PoW) and Proof of Stake (PoS) into a hybrid consensus mechanism. By leveraging the strengths of both models, Conflux achieves higher scalability and security while maintaining decentralization. But what exactly is the Conflux project? Let’s dive into the details of Conflux and its latest updates!
What is Conflux?
Conflux (CFX) is a decentralized blockchain that merges Proof of Work (PoW) and Proof of Stake (PoS) into a Hybrid Proof of Stake model. Initially operating on PoW, Conflux recently upgraded to include a PoS component.
Another key innovation is eSpace, a fully EVM-compatible (Ethereum Virtual Machine) environment introduced alongside the PoS chain in the Hydra upgrade. This enhancement improves Conflux’s security against attacks while offering developers greater flexibility.
Although China restricts fiat-to-crypto transactions and token sales (ICOs), crypto-to-crypto trading remains permitted. As a result, Conflux complies with Chinese regulations, enabling new crypto projects to enter the local market.
How Does Conflux Work?
Conflux’s Consensus Mechanism
Conflux uses a novel Tree-Graph consensus mechanism to enhance scalability, security, and decentralization. This hybrid approach combines Directed Acyclic Graph (DAG) with a chain-based blockchain, optimizing the blockchain trilemma.
In Tree-Graph:
– Each block is represented as a DAG, linked via parent-child relationships to form a tree-like structure.
– A root node anchors the tree, with each node symbolizing a blockchain.
– PoW selects the next block, while PoS verifies transactions, ensuring security and decentralization without sacrificing scalability.
Conflux also supports Ethereum Virtual Machine (EVM), allowing smart contracts written in Solidity to run seamlessly. Developers can easily port Ethereum-based dApps to Conflux.
👉 Discover how EVM compatibility boosts blockchain interoperability
Additionally, Conflux features its own Conflux Virtual Machine (CVM), optimized for Tree-Graph consensus, offering faster and more efficient smart contract execution. Users can choose between EVM and CVM based on their needs.
Practical Applications of Conflux
Conflux collaborates with the Chinese government to advance blockchain education, research, and development. Key partnerships include:
– Tree-Graph Research Institute (Shanghai): Focuses on public blockchain infrastructure.
– Swiss Government Lab (Hunan): Explores industrial blockchain applications.
In 2021, Conflux and Shanghai officials developed a blockchain platform for administrative services (e.g., certificate issuance, urban data management). These efforts highlight Conflux’s commitment to real-world blockchain adoption.
By leveraging immutable transaction records and smart contracts, organizations can:
– Prevent fraud and errors.
– Automate processes, reducing manual intervention.
– Enhance transparency and efficiency.
CFX Token Fundamentals
Key Token Metrics
| Parameter | Value |
|---|---|
| Token Name | Conflux Network |
| Symbol | CFX |
| Blockchain | Conflux |
| Token Type | Governance |
| Total Supply | 5.43 billion CFX |
| Circulating Supply | 3.45 billion CFX |
Token Allocation
- Ecosystem Fund: 40%
- Genesis Team: 36%
- Private Investors: 12%
- Community Fund: 8%
- Foundation: 4%
Utility of CFX Token
- Transaction Fees: Paid in CFX to process transactions.
- Gas Costs: Covers computational resources for smart contracts.
- Storage Fees: Charges for data storage on the network.
- Staking: Users stake CFX to secure the network and earn rewards.
- Governance: CFX holders vote on protocol upgrades.
👉 Learn how staking can generate passive income
Core Team Behind Conflux
- Fan Long (CEO): Tech entrepreneur with 10+ years of experience.
- Ming Wu (CTO): Leading computer scientist in blockchain research.
- YuanJie Zhang (Product Lead): Expert in software engineering and product management.
Investors and Partners
Founded in 2018, Conflux raised $35 million from prominent investors like:
– Huobi Group
– Sequoia China
– Shunwei Capital
In 2023, DWF Labs invested an additional $28 million.
FAQs
1. Is Conflux a Chinese project?
Yes, Conflux is headquartered in China but operates globally, complying with local regulations.
2. How does Tree-Graph improve scalability?
By parallelizing block processing via DAG, Conflux achieves higher throughput than linear blockchains.
3. Can I stake CFX tokens?
Yes, staking CFX helps secure the network and earns rewards.
4. What’s the difference between EVM and CVM?
EVM supports Ethereum compatibility, while CVM is optimized for Conflux’s consensus.
5. Where can I buy CFX?
CFX is listed on major exchanges like OKX, Binance, and Huobi.
Conclusion
Conflux bridges PoW and PoS to deliver a scalable, secure, and decentralized blockchain. With EVM/CVM flexibility and strong institutional backing, it’s poised for growth in both DeFi and enterprise applications.