TOP Network and Conflux Announce Strategic Partnership To Jointly Develop Blockchain Solutions and Services
TOP Network, the first project on Huobi Prime and the world’s first blockchain powered cloud communications network, has announced a strategic alliance to collaboratively pursue technological advancements with Conflux, a scalable, secure, and decentralized next generation blockchain system. The two parties will cooperate in the areas of R&D and community development, while also promoting the mutual integration of each other’s products and services.
In the future, Conflux will offer its public blockchain platform for use by the TOP Network community, while TOP will offer its full-stack cloud communications services to the Conflux community. Conflux will also gain access to TOP Network’s massive pre-existing user base of 60 million. This will broaden the reach and generate additional network effects for both projects. Apart from research and development, the two entities will jointly host meet-ups and other promotional events to help grow their existing communities.
When speaking on the cooperation, Fan Long, co-founder of Conflux, said:
“While collaboration in the blockchain industry based solely on economic interest is dubious, it can be healthy and sustainable if established on the basis of technological advancement and community development. Undoubtedly, the strategic partnership between Conflux and TOP Network is founded on the shared ambition of continuous technological evolution and innovation. Conflux welcomes our strategic partner to aid and contribute in the process of technological advancement, and we look forward to collaboratively providing decentralized services to both of our communities.”
Conflux is a novel public blockchain architecture that achieves scalability without sacrificing security and decentralization. By combining traditional consensus algorithms such as PoW with their novel Tree Graph structure, Conflux is able to achieve orders of magnitude higher TPS than existing PoW blockchain systems, while still remaining secure. Developed by a highly qualified group of university professors including Turing Award winner Dr. Andrew Chi-Chih Yao, Conflux is founded on a strong research based approach.
“When developing ambitious and completely novel technologies, it is very important to have help and consultation along the way. We are extremely pleased to sign a strategic agreement with Conflux, who are more than capable of aiding in the development of cutting-edge blockchain technologies,” said Steve Wei, founder and CEO of TOP Network “With this partnership, Conflux and TOP Network will pool our collective knowledge base to build scalable, decentralized, and secure blockchain infrastructures. We are excited to begin this collaborative effort to further the development and ensure the quality and security of both TOP Network and Conflux, while expanding both of our communities in the process.”
About TOP Network
TOP Network is a decentralized, open cloud communications network powered by blockchain technology. TOP Network offers low-cost, privacy preserving, and secure cloud communications services such as messaging, calling, VPN, CDN, IoT data sharing and more.
TOP Network also functions as a general purpose high performance public blockchain, designed to handle real-world businesses of any size, catagory or volume. Powered by innovations such as a three layer network architecture, two-layer sharding with DPoS-PBFT consensus, and a two-layer Block-Lattice DAG structure, TOP Network scale to hundreds of thousands of on-chain transactions.
TOP Network was founded by serial entrepreneur Steve Wei and his colleagues in late 2017. Steve was one of the earliest employees of WebEx in the 1990s. After WebEx, he founded a successful video conferencing software company which was acquired by Huawei in 2010. In 2012, Steve co-founded Dingtone, a publicly listed company operating popular communication apps such as Dingtone, CoverMe and SkyVPN. These apps, having attracted over 60 million users in total, will be ported to TOP Network upon the launch of TOP’s public-chain, generating huge volumes of transactions in the TOP ecosystem.
TOP Network has closed $11 million in private investments from prestigious institutional and individual billionaire investors, including DHVC, Fenbushi Capital, NEO Global Capital (NGC), Ontology Global Capital (OGC), LD Capital and more.
Conflux is the first public blockchain system that can achieve high TPS on a single chain without sacrificing decentralization or safety. By delicately combining its unique and advanced algorithm with a novel structure called Tree Graph (TG), Conflux removes consensus as the performance bottleneck, which can solve a series of problems related to the adoption of public blockchains by real businesses. In its initial stage, Conflux adopts the PoW (Proof of Work) mechanism as the basis of its consensus, but can be extended to other consensus algorithms such as PoS (Proof of Stake).
The founding team consists of computer scientists with strong educational backgrounds from US universities, and also veterans from top technology and financial companies in Silicon Valley and Wall Street. The team also includes prominent well-recognized scientists and researchers from high-quality research organizations, who focus on distributed systems, programming languages, cyber security, cryptography, game theory and more. Among these researchers is Turing Award winner and Chief Scientist of Conflux Dr. Andrew Chi-Chih Yao.
Conflux has received $35 million in private investments from notable institutional investment firms such as Sequoia China, Metastable, IMO Ventures, and also a few prominent Chinese tech companies.