Conflux CFX Price $ 0.238

Conflux is self-defined as a “blockchain without barriers”, it aims to leverage blockchain technology to become a catalyst for the borderless economy. The project was founded based on the principles of openness, inclusivity, permissionless, transparency, and decentralization. The Conflux protocol uses a Proof-of-Work consensus mechanism that facilitates parallel processing of transactions. The team claims that its innovative architecture improves upon existing blockchain technology, in particular the security and economic viability against the threat of double-spending.

What are Conflux’s key features and how does it work?

The Conflux Ecosystem consists of a variety of steadily growing dApps, integrations, and partnerships. The Conflux ShuttleFlow Cross-Chain Asset Bridge is key to the platform’s operations thanks to its multi-chain architecture. ShuttleFlow provides interoperability between and across blockchains by using Conflux as an intermediary chain. As such, assets can seamlessly flow from blockchain to blockchain via the network.

Conflux deploys a unique and optimized Proof-of-Work (PoW) Tree-Graph consensus algorithm. The algorithm is an adapted version of a Directed Acyclic Graph (DAG). The Tree-Graph structure is fundamental to its functionality, unlike linear blockchains such as Bitcoin and Ethereum, it takes on a divergent form. This means that more than one block can be confirmed at the same time. All valid blocks, including concurrent ones, are incorporated into the blockchain. 

In more detail, Conflux uses the Greedy Heaviesy Adaptive SubTree (GHAST) algorithm. This assigns weights to each block within the Tree-Graph and plays a role in chain selection when new transactions are added. The result is a more organized distribution of transactions to the chains. Tree-Graph data structure, together with the GHAST chain selection mechanism, ensure that transactions are executed in a secure, scalable, and efficient way. The result is faster overall transactions speeds thanks to lower confirmation times, therefore increasing transaction throughput. It is capable of processing 3,000-6,000 transactions per second whilst maintaining high levels of security, decentralization, and minimal transaction fees.

The Conflux ecosystem also consists of other elements. These include:

• 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, these are a selection of tools for programmers to easily develop their applications.

What can Conflux be used for?

Conflux can be used by business and developer teams to build and develop apps that are cross-compatible with multiple blockchains. Some projects that are already developing on Conflux include Moonswap, an AMM DEX that runs on Ethereum L2, Flux, a protocol that facilitates lending and borrowing on the Conflux Network, and Sacred Finance, an interoperable, non-custodial dApp that allows assets to be transferred anonymously.

Where can you buy CFX?

CFX is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are OKX, Binance, and MEXC Global. The price of CFX will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for CFX market price, please view the price charts on this page.