Conflux Network CFX
Report IssueConflux Network enables the secure and interoperable flow of assets and data to create a valuable Internet for everyone. Conflux Network is an open protocol for the new world of DApps, finance and Web 3.0. As a fast and secure public blockchain, Conflux Network combines Proof-of-Work and Tree-Graph structure to enable next-generation decentralized commerce.
Details
$0.071
+0.87%
#131
Protocol
ByBit 
Gate 
Score Sentiment Neutral
Fundraising Statistics
Sequoia Capital Tier 1
Huobi Ventures Tier 2 CFXConflux Network
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Short Review Conflux Network
Crypto project Conflux Network (CFX) is classified as a Protocol. Conflux Network is a Utility token that is hosted on the BSC (BEP-20) Network. The current total supply is 5.28 B CFX (Circulating Supply + Tokens yet to be released - Burned Tokens).
(CFX)
CFX Price Chart
The launch of CFX token trading took place on 10 November 2020.
Fundraising Rounds
Total sold 527.50 M CFX tokens (10.55% of total tokens). Total amount of funds raised by the Conflux Network project is $40.71 M.
| Investment Round | Date | Price | Funds Raised |
| Funding Round | January 12, 2021 | -- | $5.00 M |
| Private Round 3 | August 31, 2020 | $0.10 | $4.95 M |
| Private Round 2 | January 2, 2019 | $0.08 | $840,000.00 |
| Private Round 1 | August 2018 | $0.064 | $29.92 M |
Conflux Network Investors
Sequoia Capital Tier 1 Huobi Ventures Tier 2Conflux cryptocurrency (CFX)
Conflux is a first-level consensus, Proof-of-Work blockchain. Its main purpose is to solve the trilemma problem. There are three main concepts that need to be considered when creating a blockchain. These are decentralization, scalability and security. In most cases, keeping them together is quite difficult. The Conflux project strives to preserve all three parts without sacrificing any of them. This network was designed for decentralized applications, e-commerce and Web 3.0. Moreover, Conflux managed to create a bridge between Asia and Europe. Headquartered in China, the company has expanded to Canada and Nigeria.
CFX is a native token of the Conflux network that has many different functions. It is used as a governance token, store of value, payment method on the platform, and staking.
History of the Conflux Project (CFX)
Conflux appeared as the Conflux Foundation in 2018 in China. This organization conducted all kinds of research in the field of blockchain infrastructure. An operations center was established in 2019 in Hangzhou. A year later, Conflux partnered with the Shanghai government and the Key Laboratory of Blockchain Infrastructure and Applications with the Hunan Provincial Government to establish the Tree Graph Research Institute. Now the Conflux team has more than 50 people from all over the world. So far, this is the only blockchain project approved by the government.
Advantages of CFX
- Parallel transactions. The Conflux network uses a PoW protocol similar to that used by BTC. However, thanks to the directed acyclic graph (DAG) structure, this system was able to conduct parallel transactions. Conflux is capable of processing approximately 4,000 transactions per second.
- Database Availability Group Consensus. The DAG protocol is responsible for validating blocks and the order in which they are added to the blockchain. The blocks are then arranged in the blockchain as Tree-Graphs. Typically, each block has two ends: a parent and a referent. In Conflux, blocks also have weight, which is added using GHAST technology. A blockchain with this type of organization is considered more stable.
- Smart contracts. This feature allows developers to create decentralized applications based on the Conflux platform. Conflux takes Ethereum to the next level with all the possibilities for creating applications.
- Liquidity. Conflux supports collaboration across multiple chains. This means that developers can go beyond a single chain and create multi-chain decentralized applications.
- Low fees. High scalability allows the network to set low fees. Compared to Ethereum, the difference is quite significant.
Disadvantages of CFX
- Lack of trust. While Conflux's technical innovations look extremely attractive, some cryptocurrency users have expressed concerns that Conflux is backed by the Chinese government. Conflux did not conduct a public ICO, which is illegal in China, in order to remain in good standing with the government. Conflux is included in China's five-year plan as a key enterprise blockchain infrastructure for connecting economies across borders and protocols.
