What is Conflux Network?

Hello,

today I want to write something about Conflux Network because I saw that some people want to know more about it.

Conflux Network is the name of a Blockchain project which started trading on 11. November 2020 and were created by Dr. Andrew Yao. This project is affiliated with some buzzwords of 2021 like Dapp, DeFi, Scaling, Staking, Yieldfarming, and DEX. CFX is the main token on the Conflux Network. CFX is minable and doesn't use a POS algorithm, like nowadays many others cryptocurrencies. The main focus of Conflux is to optimize security and scalability without sacrificing decentralization.

Otherwise, then Bitcoin, Conflux Network has a much higher transaction per second with 3000 to 6000 TPS. That's why Conflux does not use the SHA256 POW-Algorithm instead, it used the Tree-Graph consensus algorithm.

Investor TLDR

+ Huge ecosystem

+ low fees

+ good price

- already listed on Binance

Ecosystem

Conflux's ecosystem is huge. You have MoonSwap as a DEX, which functions as a second layer solution on the Ethereum Network. That's the reason why it's possible to create also cross-chain transactions.

Flux is a lending platform that serves as a DeFi hub.

Also, it is possible to create private transactions with help from Sacred Finance on Conflux Network.

The last big thing on Conflux Network is the Phantom Protocol where you can issue crypto, NFTs and more.

To see the whole ecosystem, click here.

Community

Conflux has 3 big educational programs. The goal of this program is to educate students from Africe, Asia and Latin Amercia about the basic blockchain concepts. Smart contracts on Conflux uses Solidity as a programming language and atre simpler for onboarding devs.

If you like Conflux you can become an ambassador to create more hype for the project. The benefits for ambassadors are:

- Special AMA sessions with partner projects and Conflux team members

- Early access to new features and the opportunity to provide feedback

- Resources to help educate and onboard more members

- Private Discord channels and workspace connecting ambassadors all over the globe

Hopefully, I could tell you something new and if you have any questions I will answer them in the comments. Thank you for reading my first read.cash article.

If you want to read more about me check out my noise.cash profile