Conflux cryptocurrency and blockchain platform
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What is Conflux crypto?
Conflux is a cryptocurrency and blockchain platform. Conflux Network was founded in 2018, based on the innovative Tree-Graph consensus algorithm developed at the research laboratory of Prof. Andrew Yao, a Turing Award winner. Conflux focuses on improving the scalability and security of blockchain transactions.
Through blockchain and other emerging technologies, the path towards globalization and connectivity is accelerating, but barriers still exist.
For every barrier, there is a catalyst for a new type of connectivity. Conflux Network is that catalyst.
As the only public, permissionless, and compliant blockchain in China, Conflux is building a borderless transactional and technological ecosystem for globally minded crypto projects, extending beyond:
- China
- North America
- Russia
- Latin America
- Europe
- Africa
And the rest of the world.
Conflux crypto: Conflux Principles
Openness
The software we create is a public good, available as open-source code for anyone to share, modify, and benefit from. Openness, not regulation, creates the security and reliability of blockchain.
Inclusion
We believe in fair and open access to emerging technologies. This extends to actively connecting communities, projects, and economies across borders and protocols.
Permissionless
We see Conflux as the catalyst for facilitating secure transfer of valuable assets quickly, efficiently, and with minimal or free fees, so that everyone can participate and benefit from the new global economy.
Transparency
We strive for complete openness with our community, stakeholders, and core team. We are not perfect, but we are honest about our shortcomings and where we can improve.
Decentralization
Decentralization is a core focus within our organization and in all the projects we build. Our consensus algorithm was specifically designed to maximize security and scalability without sacrificing decentralization.
The Conflux platform uses a unique consensus algorithm called Tree-Graph, which allows multiple blocks to be generated simultaneously instead of sequentially, significantly increasing network speed and efficiency. Additionally, Conflux employs a horizontal scalability approach, allowing the addition of new nodes to the network to increase its processing capacity.
Conflux also focuses on security, using advanced cryptographic techniques and hash algorithms to ensure transaction integrity and prevent double spending of digital assets.
Conflux’s cryptocurrency is called CFX and is used to pay transaction fees and reward miners who validate transactions on the network. CFX can be bought and sold on various cryptocurrency exchange platforms.
As the only public, permissionless, and compliant blockchain in China, Conflux offers a unique advantage for building and expanding projects in Asia, connecting decentralized economies to strengthen the global DeFi ecosystem.
conflux price
[mcrypto id=»29333″]
High Performance
Our innovative Tree-Graph consensus algorithm uses parallel processing of blocks and transactions to reduce confirmation times and increase TPS.
Secure
Conflux employs a highly tested PoW consensus to provide increased security and protection against protocol-level re-entry attacks.
Interoperable
ShuttleFlow is an ultra-fast cross-chain asset bridge built on Conflux that enables seamless asset transfers between multiple protocols.
Scalable
Conflux provides unmatched scalability, eliminating the consensus bottleneck of other blockchains without sacrificing security or decentralization.
Integrated Staking
Built-in staking interest provides a foundation for innovative DeFi applications. Currently staked tokens receive a 4% annualized rate, generated by additional token issuance.
Low Fees
Our fee sponsorship mechanism allows users with zero wallet balance to continue interacting with the blockchain. Sponsors pay a portion or all of another user’s transaction fees to assist with user onboarding.
Conflux mining
Conflux mining refers to the process of validating transactions and adding new blocks to the Conflux blockchain through the use of specialized mining equipment. Miners are rewarded with CFX tokens for their work on the network, and they can participate in the decision making of the network through the governance process. Conflux mining is a competitive process in which miners compete against each other to solve complex cryptographic problems and earn rewards for doing so.
What is necessary to mine conflux?
To mine on the Conflux network, you need the following:
Hardware: A computer with a high-powered processor and a good amount of RAM, plus a powerful graphics card.
Software: You must download and install mining software that is compatible with the Conflux network.
Graphics: 8 GB or higher graphics cards required
Wallet – You need to have a Conflux wallet to receive your mining rewards.
Internet connection: A fast and stable internet connection is required to send and receive data from the Conflux network.
Technical Knowledge: Mining on the Conflux network requires advanced technical knowledge and experience in cryptocurrency and mining. It is important that you understand the mining process and the associated risks before you start mining.
ConfluxScan
Track network transactions, block height, hash rate, and tokens via an easy-to-use block explorer.
Conflux wallet
Fluid Wallet
Fluid Wallet is a decentralized crypto wallet that provides a seamless user experience, with an intuitive interface and a focus on security.
Conclusion
Define conflux
Conflux is a high-performance blockchain platform designed for unprecedented scalability and a seamless user experience. It uses a secure and efficient consensus protocol called Tree-Graph, which allows the network to process up to 3,000 transactions per second, making it one of the fastest and most efficient blockchains in the world. Furthermore, Conflux is compatible with smart contracts and decentralized applications, making it an attractive option for developers and companies looking to take advantage of blockchain technology to improve their processes and services.
