What is Conflux?

Conflux (CFX) is a public, layer-1 blockchain designed to power decentralized applications (dApps), e-commerce, and Web 3.0 infrastructure. It aims to enhance scalability, decentralization, and security compared to existing protocols. Conflux strives to simplify the transfer of valuable assets by aiming to reduce network congestion and lower transaction costs. The platform is based on the Tree-Graph consensus mechanism, combining Proof-of-Work (PoW) and Proof-of-Stake (PoS) algorithms to achieve consensus. It uses Turing-complete smart contracts written in Solidity, similar to Ethereum, and is compatible with the Ethereum Virtual Machine (EVM). The growth of Conflux is supported by CFX, the platform's native token, which encourages user participation and engagement.

How does Conflux work?

Conflux operates using a unique technical architecture designed to address several industry issues. It interoperates with other blockchains through its cross-chain protocol, ShuttleFlow, allowing Conflux to transfer assets to other networks. The platform provides developers with a decentralized, secure, and scalable network, along with necessary tools and conditions that comply with relevant regulations. This enables developers to create multi-chain, scalable, secure, and censorship-resistant dApps. The Tree-Graph consensus algorithm used by Conflux ensures scalability without sacrificing decentralization. Thanks to its scalability, Conflux aims to provide competitive fees compared to other networks. Additionally, the platform has an integrated staking system that offers users who stake their coins may receive passive compensation.

What are the potential use cases for Conflux?

Conflux aims to solve a number of industry issues and make life easier for both dApp developers and common users. It allows for the transfer of assets to other networks. This cross-chain bridge lets Conflux transfer assets to other networks. Developers can create multi-chain, scalable, secure, and censorship-resistant dApps in line with the demands of investors and the crypto community. The platform also aims to provide competitive fees compared to other networks, aiming to be an affordable option for users. Additionally, users who stake their coins may receive passive compensation, providing a financial framework for dApp development.

What is the history of Conflux?

Conflux was founded in 2018, but its fundamental technology has been in development since 2017. The company is led by its founder, Fan Long, a programmer who specializes in blockchain technology and cybersecurity. Long graduated from Tsinghua University, and he holds a Ph.D. in Computer Science from MIT. Long’s two co-founders are YuanJie Zhang and Ming Wu. The core team is composed of scientists, business managers, researchers, and other professionals. The protocol's Tree-Graph consensus mechanism was created by Professor Andrew Chi-Chih Yao, a figure in academic computer science, a Turing Award winner, a fellow of the Chinese Academy of Sciences, and the head scientist of the Conflux Foundation.