Blockchain in China Aims to Be Catalyst & Hard Forks to PoS

Conflux is a project whose mission is to be a catalyst for the borderless economy within the blockchain industry. They market themselves as the only regulatory compliant, public, and permissionless blockchain in China.

Features of Conflux

• Fast Transaction Times: Conflux also has its own Tree-graph consensus algorithm which uses parallel processing of blocks and transactions to lower confirmation times and increase their transactions per second.
• Secure: Conflux ensures their security is top-notch, using both a Proof of Work (PoS) and Proof of Stake (PoS) model.
• Cross-Chain Supported: Conflux has an integrated bridge, ShuttleFlow, that allows users to seamlessly transfer and trade assets between different blockchains.
• Scalable: Conflux says they avoid dealing with consensus bottlenecks that other blockchains deal with, without sacrificing security or decentralization.
• Built-In Staking: Conflux has its own token, ($CFX) and has built-in staking features with APR rates up to 4%.
• Low Fees: Conflux has a Fee Sponsorship mechanic that allows users who have no wallet balance to still work with the blockchain. Sponsors can pay a portion or all of another user’s transaction fees to help get them started on the platform. This feature can be helpful for new users who are looking to get started but don't have established accounts set up yet.

The Conflux Token ($CFX)

Conflux’s platform is built around the Conflux token ($CFX). The token allows users to pay transaction fees, earn rewards through staking, rent storage, and participate in governance with their Decentralized Autonomous Organization (DAO). Users can also earn more CFX by ensuring the network security of the network.

Conflux Hard Fork to PoS

Conflux started out just using Proof of Work (PoW) consensus but has just launched their hard fork Hydra, which will introduce Proof of Stake (PoS) functionality as well. It will also add eSpace, which is an EVM smart contract execution environment into the platform. The Conflux Hydra hard fork is now live on mainnet. You can read more about the Hydra hard fork and its implications here.

More About Conflux

Conflux also has its own Grant Program with over 2.4 Billion CFX in grant awards available. Users can apply for technical grants for core infrastructure, gamification stack, or developer tooling.

The team behind Conflux is doxxed, and you can find more information about them on their website here or on their Medium page. I was not able to locate an audit for the project so make sure you understand the risks associated with that before investing.

Join the Conflux Community

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Thank you to Conflux for sponsoring this article. Conflux is not endorsed by VoskCoin, and this is not financial advice. Please do your own research before investing. Make sure to subscribe to the VoskCoin YouTube Channel to stay up to date on the latest cryptocurrency news and reviews.