Conflux price is $0.229192, up 5.48% in the last 24 hours, and the live market cap is $905M. It has circulating supply volume of 5,494,092,715 CFX coins and a max. supply volume of 5,494,092,715 alongside $44M 24h trading volume.
Conflux CFX is a highly scalable decentralized blockchain ecosystem aiming to have a high throughput and fast transaction confirmation speeds.
The ecosystem's native coin, CFX, plays a central role in the Conflux Network.
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What Is Conflux
The Conflux Network is a scalable blockchain network created to resolve blockchain challenges for users and developers effectively. The protocol provides high throughput, interoperability, scalability, built-in staking, and low fees without sacrificing security.
The CFX coin powers the network's operations. CFX is a unit of value on the platform with several use cases. It's used to pay transaction fees, earn rewards via staking, rent storage, and participate in governance. The network is secured by miners, who get rewards in return.
How Does Conflux Coin Work
The Conflux Network is a hybrid consensus blockchain based on Proof-of-Work and Proof-of-Stake mechanisms. Scalable Conflux provides unmatched scalability without sacrificing security or decentralization. To achieve enhanced throughput, scalability, and decentralization, Conflux uses a unique Tree-Graph consensus algorithm, which enables the parallel processing of blocks and transactions.
Interoperable ShuttleFlow is a lightning-fast cross-chain asset bridge built on Conflux that enables seamless asset transfers between multiple protocols.
The Conflux ecosystem comprises:
Fluent Wallet, a web-based wallet for Conflux assets
Conflux Triffle, a Conflux version of EVM
Conflux Studio, a graphic IDE that developers can use to deploy smart contract and DApps on Conflux
SDKs are a selection of tools for programmers to develop their applications easily.
The protocol is compatible with Ethereum, supporting smart contracts and DApps operating on the Ethereum blockchain.
Conflux is the only blockchain endorsed by the Chinese government. As such, the blockchain acts to eliminate barriers with communities in North and South America, Europe, Africa, South East Asia, China, Persia, etc.
Conflux's native cryptocurrency CFX has a total supply of 1,697,024,649. As of June 5, 2022, its market cap stands above $147 million. The Conflux price is volatile.
Conflux Coin Founders
Conflux Network was launched in 2018 based on the Tree-Graph consensus algorithm developed by Dr. Andrew Chi-Chih Yao. He is a computer scientist, Professor, and the Dean of the Institute for Interdisciplinary Information Sciences at Tsinghua University in China.
In 2018, a team of developers established the Conflux Foundation and carried out fundraising to build an open blockchain infrastructure. It was co-founded by computer scientist Fan Long, investments, capital markets, and business operations expert YuanJie Zhang, and computer architect and researcher Ming Wu.
In 2020, the team founded the Tree-Graph Research Institute partnering with the government. Conflux started extensive educational programs and launched the mainnet in October 2020.
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