Conflux Network: An Open Blockchain with High Throughput

An introduction to Conflux, Its novel Tree-Graph consensus mechanism, and Its Applications.

2 min readFeb 13, 2023

Introduction

What is Conflux Network (CFX)?

Conflux is an open blockchain that connects Asian and Western communities and economies. To improve its scaling capabilities in comparison to existing networks such as Ethereum, the Conflux protocol includes a consensus protocol known as Tree-Graph. It is also EVM compatible, allowing its application layer to support Solidity-based smart contracts.

Consensus Mechanism

Improving Scalability

A Turing-complete state machine is a feature of the Conflux Network’s smart contract platform, which is based on a high-throughput consensus process. Conflux uses a novel consensus mechanism that scales better than existing blockchains to determine the transaction validator based on the overall order of blocks arranged in a Tree-Graph. In addition to the Tree-Graph consensus protocol, PoW is also used. Conflux includes a native token called $CFX that is used to pay transaction fees as well as reward network miners.

Conflux’s Native Token ($CFX)

Usability and Functionality

Conflux’s transaction processing is comparable to that of the Ethereum (ETH) network, and the function of $CFX is comparable to that of ETH. Users submit a gas limit and price contract, with the latter expressed in $CFX.

Wallets allow users to communicate with applications in the Conflux Network ecosystem. Users can use $CFX to vote in governance elections, stake their tokens to earn a fixed rate of interest on the network or pay transaction and storage fees for the network.

Conflux (CFX) primary principles include:

Openness
Inclusivity
Permissionless
Transparency
Decentralization

Team

The Conflux Network’s core leadership team is made up of eminent researchers, scientists, and businessmen with experience in a variety of domains, including distributed systems, computer science, cybersecurity, cryptography, game theory, economics and finance, and more.

Fan Long — Tree-Graph Blockchain Research Institute’s founding president
YuanJie Zhang — Co-Founder
Ming Wu — Co-Founder & Chief Technology Officer
Andreas Veneris — Advisor
Andreas Park — Advisor

Where to Store Conflux (CFX)

Conflux (CFX) has a wallet designed specifically for their network called Fluent Wallet. Here, you may easily transfer, receive, and store money with Conflux. Hardware wallets and HD wallets are supported by Fluent. Supported on Chrome, Firefox, and Edge browsers.

Other notable wallets include:

MathWallet
Magic
Cobo
Simple hold

If you are looking for a safe and secure wallet to store your $CFX tokens offline, we recommend the leading hardware providers Ledger and Trezor.

Conflux (CFX) Resources

Website: https://confluxnetwork.org/
Block Explorer: https://www.confluxscan.io/
Github: https://github.com/conflux-chain
Twitter: https://twitter.com/Conflux_Network

Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers' responsibility to complete their own research and due diligence.