What is Conflux (CFX)?

The blockchain world is constantly expanding with new and exciting projects. Among these projects, one name has gained a strong foothold and attracted attention, particularly in the Asian market: Conflux (CFX). So, what is Conflux and what sets it apart? In this guide, we'll delve deeper into Conflux, exploring every aspect of this innovative blockchain network, from its technical structure and ecosystem to its history and future. If you're looking for a high-performance, regulatory-compliant platform that pushes the boundaries of blockchain technology, you're in the right place. Conflux is shaping the future of the digital world by offering groundbreaking solutions in areas like decentralized applications (dApps), DeFi, and NFTs. If you're ready, let's step into the fascinating world of Conflux together.

Conflux's Definition and Origins

Conflux (CFX) is a public layer-1 blockchain network distinguished by its high scalability, security, and compatibility. Conflux offers innovative solutions to the scalability challenges faced by traditional blockchains, providing an ideal infrastructure for applications requiring high transaction volumes. The network's native cryptocurrency is the CFX token, which serves various functions, including payment of transaction fees within the network, ensuring network security, and participation in governance processes.

Conflux was founded in 2018 by leading scientists and technology experts in China. The project is led by researchers and academics from Tsinghua University, led by Turing Award winner Andrew Yao. This strong academic background supports the robustness of Conflux's technical infrastructure and innovative approach. If you're wondering when Conflux coin was launched, the project's mainnet, Tethys, launched in October 2020. This date is considered Conflux's official launch in the blockchain world. As of the launch date, the network's primary goal was to provide a highly efficient and regulatory-friendly blockchain solution focused on the Asian market. By complying with the regulatory environment in China, it aims to be a secure and stable platform for both local and global projects.

Conflux is positioned as a key player in the Layer-1 blockchain ecosystem. Layer-1 blockchain projects are basic blockchains with their own independent networks and consensus mechanisms. Conflux falls into this category, distinguishing itself from other Layer-1 projects with its unique Tree-Graph consensus algorithm. This algorithm enables parallel processing of blocks, providing high transaction speed and efficiency. Thus, Conflux offers an alternative solution to the congestion and high transaction fees faced by popular Layer-1 networks like Ethereum. Its regulatory compliance, particularly in China, plays a key role in the adoption of blockchain technology in the Asian market.

Conflux's History: Major Milestones

Behind every major project are significant milestones and turning points that have brought it to its current state. The history of Conflux coin is rich in this regard. The project's successes from its inception to the present have solidified its place in the blockchain ecosystem.

• Launch Date and Mainnet Launch: Following extensive research and development, Conflux officially launched its mainnet, Tethys, in October 2020. This launch was a major step toward making Conflux's vision a reality. With the launch of the mainnet, developers and users had the opportunity to experience Conflux's high-performance infrastructure. This demonstrated that the project had moved beyond theoretical work and reached the capacity to host real-world applications. The Conflux 3.0 mainnet upgrade is scheduled for August 2025, with the goal of reaching a transaction throughput of 15,000 transactions per second (TPS).
• Recognized as a Chinese government-compliant blockchain project: Conflux stands out as one of the few public blockchain projects to receive government support by complying with China's regulatory environment. For example, in January 2021, the Shanghai Government invested $5 million in Conflux and used the network for stablecoin testing. This marked the first major step in the project's local adoption. Then, in March–April 2024, Conflux assumed a strategic role at the national level by leading the "Ultra-Large Scale Blockchain Infrastructure Platform" project implemented as part of China's Belt and Road Initiative. These developments not only strengthened Conflux's status as "the only public blockchain network with regulatory approval in China" but also gave it a unique advantage in the Asian market.
• First major partnerships: Conflux has signed significant partnerships to solidify its position in the blockchain ecosystem. These partnerships have helped the project expand its use cases and reach more users. For example, Conflux Network partnered with China Telecom, one of China's largest telecommunications providers, to develop blockchain-enabled SIM cards. This partnership represents a major step forward in integrating blockchain technology into daily life by integrating Web3 identity tools into national telecom networks. Also noteworthy was Conflux's announcement of an NFT partnership with Little Red Book, considered "China's Instagram," in January.
• Major protocol updates and performance improvements: Conflux is constantly developing its network and implementing significant protocol updates to improve its performance. These updates aim to improve the network's security, efficiency, and developer experience. The Conflux 3.0 upgrade, in particular, is a major step forward, aiming to increase the network's throughput to 15,000 transactions per second (TPS). These performance improvements make Conflux more attractive for DeFi, NFT, and other high-throughput applications. The network's unique Tree-Graph consensus algorithm enables parallel processing of blocks and transactions, resulting in low confirmation times and high TPS.
• All-Time Highs: Like every cryptocurrency, the CFX token has experienced price fluctuations depending on market conditions. The CFX coin price and past performance are important indicators for investors. Conflux (CFX) reached its all-time high price (ATH) of $1.70 on March 26, 2021. This peak reflects the project's popularity and market interest at the time. However, due to the nature of the cryptocurrency market, prices are constantly fluctuating, and past performance is no guarantee of future results. An examination of Conflux's price history reveals significant price fluctuations parallel to the project's development.

Why is Conflux Important?

More than just another Layer-1 project in the blockchain world, Conflux stands out with its unique advantages and innovative approaches. Let's take a closer look at the key factors that make it so important…

High TPS and Low Transaction Fees

One of the biggest problems with traditional blockchain networks is scalability issues that arise with increasing user numbers and transaction volume. Networks like Ethereum can experience high transaction fees (gas fees) and slow transaction confirmation times during busy periods. Conflux is a high-speed blockchain network designed to address these issues. Thanks to its unique Tree-Graph consensus algorithm, it can process blocks and transactions in parallel. This gives Conflux a high transaction throughput of up to 15,000 transactions per second (TPS). High TPS prevents network congestion, while low transaction fees provide a more economical experience for users. These features make Conflux an attractive option, especially for interactive applications like DeFi and NFTs.

Regulatory Compliance (License to Operate in the Chinese Market)

One of Conflux's most distinctive features is that it is the only public blockchain network with regulatory compliance in the People's Republic of China. China is known for its strict regulations regarding blockchain technologies. In this environment, Conflux's government approval demonstrates the project's reliability and long-term potential. This regulatory compliance provides Conflux with a unique opportunity for projects seeking to operate in the Asian market, particularly in China. This allows major Chinese technology companies and institutions to develop blockchain-based solutions using Conflux's infrastructure. This position positions Conflux in a strategic position within the global blockchain ecosystem.

Advanced Security and Hybrid Consensus Algorithm (Tree-Graph)

Conflux utilizes an innovative hybrid consensus algorithm: Tree-Graph to maintain the highest level of network security. This algorithm combines Proof-of-Work (PoW) and Proof-of-Stake (PoS) mechanisms. PoW ensures the security and decentralization of the network, while PoS increases transaction finality and efficiency. Tree-Graph allows for parallel block processing and provides enhanced protection against attacks such as double-spending. This allows Conflux to deliver high performance without compromising security. The Tree-Graph consensus mechanism is one of the key technical features that distinguishes Conflux from other Layer-1 blockchain projects.

A suitable infrastructure for DeFi, NFT, and enterprise solutions

Conflux's high scalability, low transaction fees, and advanced security features make it an ideal platform for a wide range of use cases. Decentralized finance (DeFi) applications, NFT marketplaces, and enterprise blockchain solutions can all benefit from the advantages offered by the Conflux network. Conflux offers a fast and low-cost transaction environment for DeFi projects and an efficient infrastructure for NFT creators and collectors. Furthermore, thanks to its compliance with the Chinese government, it offers a reliable option for companies seeking to develop enterprise-level blockchain solutions. This makes the question of what Conflux coin is useful for a multifaceted approach. The Conflux ecosystem is constantly expanding in the Web3 and DeFi spaces, making it a strong foundation for future innovations.

EVM Compatibility: eSpace

Another notable feature of Conflux is its EVM-compatible domain, called eSpace. Running on the same network as Core Space, eSpace is fully compatible with the Ethereum Virtual Machine, allowing developers to develop applications directly using Ethereum tools like MetaMask, Hardhat, or Remix. This allows dApps on Ethereum to be ported to Conflux with virtually no modifications. This architecture maintains the scalability and low cost advantages of Conflux while providing a compatible bridge to the Ethereum ecosystem. Secure asset transfers between Core Space and eSpace are also possible through a mechanism called CrossSpaceCall.

The Conflux Ecosystem and Future Potential

Conflux is more than just a blockchain network; it boasts a vibrant and growing ecosystem. This ecosystem includes decentralized applications (dApps), DeFi protocols, NFT marketplaces, and various Web3 projects. Conflux's high performance and regulatory compliance provide a suitable environment for these projects to thrive.

Many innovative dApps and projects are being developed on the Conflux network, including DeFi platforms, games, social media applications, and enterprise solutions. For example, Moonswap, Conflux's native DEX (decentralized exchange), offers users fast trading with low fees. Furthermore, Conflux-based NFT marketplaces provide artists and collectors with the opportunity to securely buy and sell their digital assets. These projects demonstrate the diversity and potential of the Conflux ecosystem.

Conflux is taking significant steps to ensure interoperability between different blockchain networks. Cross-chain bridges like Conflux ShuttleFlow allow users to easily transfer their assets between Ethereum, Binance Smart Chain, and other popular networks. This compatibility allows Conflux to integrate with the broader blockchain ecosystem and offers greater flexibility for users. Cross-chain compatibility plays a critical role in Conflux's future growth and adoption.

Conflux has a continuously evolving roadmap. The project focuses on improving network performance, expanding the ecosystem, and exploring new use cases. Major updates, particularly the Conflux 3.0 upgrade, will further enhance the network's capacity and capabilities. Conflux's vision is to drive global adoption of Web3 and make blockchain technology accessible to everyone. With its strategic position in the Chinese market and strong academic support, Conflux appears poised to remain a major player in the blockchain world.

Conflux's Developers and Community

The success of a blockchain project is directly linked not only to its technical infrastructure but also to its development team and supporting community. Conflux has a strong foundation in this regard.

Conflux Network boasts an experienced core team of scientists, researchers, and business leaders who are experts in their fields. Among the project's founders are world-renowned and Turing Award-winning Professor Andrew Yao. Yao is known for his groundbreaking work in computer science and brings academic depth to the Conflux project. The team also includes experienced individuals such as CTO Ming Wu and research director Guang Yang. This strong leadership team shapes Conflux's technical vision and roadmap. As the founder of Conflux coin, Andrew Yao and his team embody the project's academic roots and innovative approach.

University-backed research roots (Tsinghua University): One of Conflux's most notable features is the strong research support it receives from a prestigious academic institution like Tsinghua University. The project was developed by researchers from Tsinghua University's Yao Class, led by Andrew Yao. This academic background has enabled Conflux to develop robust and innovative technology based on scientific foundations. This university collaboration allows the project to continuously incorporate the latest research findings and technical advancements. This makes Conflux a project driven not only by commercial considerations but also by the pursuit of scientific excellence.

In addition to a strong team of developers, Conflux also boasts a growing, active community worldwide. This community contributes to the project's development, developing new applications and supporting network adoption. Conflux Network also offers various ecosystem funds and grant programs to grow its ecosystem and encourage new projects. These funds encourage developers to build innovative dApps, DeFi protocols, and NFT projects on the Conflux network. Global community governance and transparent communication strengthen Conflux's decentralized structure and contribute to the project's long-term sustainability. Conflux aims to build an ecosystem that enables creators, communities, and markets to connect globally by encouraging cross-border and multi-chain collaboration.

Frequently Asked Questions (FAQ)

Below are some frequently asked questions and answers about Conflux:

• What is Conflux, and when was it released? Conflux is a highly scalable, secure, and compliant layer-1 blockchain network. Its mainnet, Tethys, launched in October 2020. It aims to provide high-throughput and regulation-friendly solutions, focusing primarily on the Asian market.
• Who developed Conflux? Conflux was developed by researchers and academics at Tsinghua University, led by Turing Award-winning Professor Andrew Yao. The project is backed by a strong academic and technical team.
• What consensus algorithm does Conflux use? Conflux uses the unique Tree-Graph consensus algorithm. This hybrid algorithm combines Proof-of-Work (PoW) and Proof-of-Stake (PoS) mechanisms, providing high security, scalability, and efficiency.
• What does the CFX token do? The CFX token is the native cryptocurrency of the Conflux network. It offers various functions, including payment of transaction fees within the network, ensuring network security (staking), participation in governance processes, and use in dApps.
• Is Conflux suitable for investment? Conflux offers potential advantages such as high scalability, compliance with the Chinese government, and a robust ecosystem. However, like any cryptocurrency, investing in the CFX token carries market risks. It is important to conduct thorough research and seek financial advice before making an investment decision.
• What are the application areas for Conflux? Thanks to its high-performance infrastructure, Conflux has a wide range of application areas, including DeFi (decentralized finance), NFT (non-fungible tokens), Web3 applications, and enterprise blockchain solutions. It stands out particularly in the Asian market for its regulatory compliance.