About Conflux
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Conflux is the 1st permissionless blockchain that operates from China. The main purpose of this blockchain is to eliminate the persistent problem that plagued the old blockchain. These issues include scalability, interoperability, decentralization, security, etc.
To improve security, Conflux uses both proof-of-work and consensus-of-stake mechanisms. Both types of authentication ensure maximum security in the network. To ensure fast processing, the network uses a tree system that allows transactions and blocks to be processed simultaneously. As a result, the network can process 3,000 to 6,000 transactions per minute without interruptions or high fees. This is much more than Ethereum, which can process around 30 transactions per minute. Conflux also has a collaboration system called ShuttleFlow.
The platform allows users to trade assets on multiple blockchain networks, including Ethereum, Binance Smart Chain, Huobi ECO Chain, and OKX Chain. Therefore, developers can create multi-channel DApps on the Conflux network. Finally, Conflux (CFX) is also the only state-backed blockchain network in China. This makes it an ideal network for developers looking to expand into the Asian market. In addition, the network is constantly working to ensure compliance with the relevant authorities. This should also ensure that DApps and Conflux will face less regulatory risk.
What makes Conflux (CFX) unique?
The Conflux project has a unique architecture that aims to solve many business problems and make life easier for dApp developers and users. Conflux interacts with other blockchains through the cross-chain consensus system, ShuttleFlow. This transitive asset allows Conflux to transfer assets to other networks such as Ethereum, Binance Smart Chain (BSC), Huobi Eco Chain and OKEx Chain. The platform provides programmers with access to a network that is decentralized, secure and scalable, with the same tools and requirements that meet current standards. As a result, developers can build multi-chain, scalable, secure, and censorship dApps as required by investors and the crypto community.
The Tree-Graph consensus algorithm used by Conflux guarantees scalability without sacrificing cost. Due to the structure of blocks and transactions, the network can process 300 to 6,000 TPS of data per second. Due to its scalability, Conflux offers lower fees compared to other networks such as Ethereum.
In addition, as sponsors pay for transactions through the financial support system, even users with negative balances can continue to use the platform and contribute to the blockchain. In addition, the platform has a built-in staking system that provides passive rewards to users who stake their coins. Staking involves less risk than trading and offers consistent rewards. Developers can choose to offer staking directly into dApps, the system provides a funding mechanism for dApp development.
