Conflux (CFX)
Conflux is a permissionless Layer 1 blockchain designed to bridge decentralized economies across borders and protocols. It distinguishes itself through its recent migration to a hybrid Proof of Work (PoW) and Proof of Stake (PoS) consensus mechanism, offering a blockchain environment that is fast, secure, and scalable. Conflux aims to address common blockchain challenges such as congestion and high transaction fees while enhancing network security.
Unique advantages of Conflux
Conflux stands out as the only regulatory-compliant public blockchain in China, providing a strategic advantage for projects seeking to expand into the Asian market. This compliance has enabled Conflux to collaborate with various global brands and government entities on blockchain and metaverse initiatives. Notable collaborations include projects with the city of Shanghai, McDonald's China, and Oreos.
| Ticker | CFX |
| Category | Smart Contract Platform |
| Website | https://confluxnetwork.org/ |
| @Conflux_Network | |
| Telegram | Conflux_English |
| https://www.reddit.com/r/Conflux_Network/ |
The Conflux (CFX) token
The Conflux Network's native token, CFX, serves multiple roles within the ecosystem. It is a hard-capped scarce asset, meaning its supply is limited, and it is used primarily to pay transaction fees and secure the network through staking. Each CFX token is divisible into 10^18 smaller units, called Drip.
Functionality of CFX
Transactions on the Conflux network are processed in a manner similar to those on the Ethereum network, with CFX functioning akin to ETH. Users submit a contract specifying a gas limit and a gas price, with the latter being denominated in CFX. This system ensures that users are able to interact with Conflux's ecosystem applications efficiently through compatible wallets.
Uses of CFX
CFX tokens enable users to participate in various activities within the Conflux Network. Users can engage in governance by voting on proposals, stake their tokens to earn network interest, and pay for storage and transaction fees on the network. This multifaceted utility underscores CFX's importance in maintaining the network's operations and governance.
Acquiring and staking Conflux (CFX)
Where to buy CFX
CFX is available for purchase on several leading cryptocurrency exchanges. Notable exchanges where CFX can be traded include Binance, KuCoin, OKEX, Gate, and MEXC. These platforms provide users with the opportunity to buy and sell CFX, facilitating access to the Conflux ecosystem.
Staking opportunities for CFX
Users interested in staking CFX can do so through various Staking Pools operated by the Conflux community. Staking enables users to earn rewards in the form of network interest. For the most current information on staking opportunities and community initiatives, users are encouraged to visit the Conflux Forum and the official website at confluxnetwork.org.