Conflux is a permissionless Layer 1 blockchain connecting decentralized economies across borders and protocols. Recently migrated to hybrid PoW/PoS consensus, Conflux provides a fast, secure, and scalable blockchain environment with zero congestion, low fees, and improved network security.
As the only regulatory compliant public blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia. In the region, Conflux has collaborated with global brands and government entities on blockchain and metaverse initiatives, including the city of Shanghai, McDonald's China, and Oreos.
CFX is the native token for the Conflux Network. It is a hard-capped scarce asset used to pay fees, and secure the network through staking. Each CFX contains 10^18 Drip. Transactions on Conflux are handled similarly to those on the Ethereum network, with CFX playing a similar role as ETH. Users submit a contract with a gas limit and a gas price; the latter is denominated in CFX.
Users can interact with Conflux Network ecosystem applications through wallets. Users can use CFX to participate in governance votes, stake their tokens to earn network interest, or pay for the network's storage and transaction fees.CFX can be staked at any of the Staking Pools operated by the Conflux community.
As of 2024, Conflux continues to expand its role as a scalable and secure Layer 1 blockchain, with its hybrid Proof of Work (PoW) and Proof of Stake (PoS) consensus model. This hybrid approach, enhanced by the Tree-Graph algorithm, allows the network to process over 6,500 transactions per second, significantly faster than many traditional blockchains. By maintaining high throughput, Conflux ensures minimal congestion and low transaction fees, making it ideal for a wide range of decentralized applications (dApps), including DeFi, NFTs, and gaming.
A key milestone for Conflux in 2024 is its increasing regulatory compliance, particularly in China, where it remains the only public blockchain recognized by authorities. This compliance has opened doors to major collaborations with global brands like McDonald's China and regional governments such as the city of Shanghai. These partnerships support both blockchain and Metaverse initiatives, further positioning Conflux as a gateway for global projects looking to enter the Asian market.
Above are only for introduction, not intended as investment advice.
Explore the tokenomics of Conflux (CFX) and review the project details below.
What is the allocation for Conflux (CFX)?
Conflux (CFX) is a layer-1 blockchain optimized for performance, facilitating the seamless deployment of smart contracts and DApps. The native currency of this ecosystem is CFX, serving transactional, staking, and governance purposes. With a total intended supply of 10 billion CFX tokens, the initial allocation was planned as:
- 40% is allocated to Ecological Fund
- 36% is allocated to Core team and Investor
- 16% is allocated to Private investors and reserves
- 8% is allocated to Community
What is the supply schedule for Conflux (CFX)?
With an initial total supply of 5 billion CFX, the schedule for distribution is as follows:
- 16% to private investors, unlock over 2 years.
- 36% to the team and investors, unlock over 4 years.
- 8% allocated as rewards for the community, distributed over 4 years.
- 40% allocated to Dapps to support the ecosystem, distributed over 4 years.
Furthermore, the CFX token has no maximum supply, and the inflation rate is 2.9% per year.
Conflux In-depth Report Generated by AI - For further details, please review:
https://sosovalue.com/coins/conflux
Conflux (CFX) is a high-performance, layer 1 blockchain utilizing a combination of proof-of-work and proof-of-stake mechanisms. It's designed to enhance scalability, decentralization, and security for decentralized applications, e-commerce, and Web 3.0 infrastructure. In 2023, Conflux experienced a significant surge in value, with a 1600% price increase, attributed to expectations of growth in Chinese blockchain projects. Its market status, as of the latest data, shows a price of $0.113895 USD, a market cap of about $382.44 million USD, and a 24-hour trading volume of $8.84 million USD. Conflux's notable performance and its unique technological approach make it a key player in the blockchain field, particularly in China.
Conflux (CFX) belongs to the sector of public blockchain platforms, specifically focusing on supporting high-performance decentralized applications (dApps). It addresses limitations like slow transaction speeds, limited scalability, and high fees prevalent in existing blockchain networks. Conflux's novel Shanghai Tree-Graph consensus algorithm allows high throughput while maintaining decentralization and security, enabling parallel block generation that merges into a single chain. Moreover, it supports a range of smart contract languages, including Solidity, facilitating easy porting of dApps from Ethereum to Conflux Network. The current situation and development prospects of the blockchain sector, where Conflux operates, are marked by resilience and innovation in 2023. Despite setbacks in 2022, like the Terra ecosystem collapse and FTX bankruptcy, the blockchain tech space has seen significant developments. Key advancements include the launch of zero-knowledge rollups, which make blockchains more efficient by executing transactions off-chain, reducing gas fees and fixed costs, and ensuring secure and private transactions. Blockchain interoperability has also seen substantial improvements. Protocols are being developed to enable smart contracts across different blockchain networks to communicate and transfer liquidity, enhancing the connectivity between private and public blockchains. Additionally, the sector is witnessing efforts to bring more real-world assets on-chain through tokenization, potentially transforming assets like cash, gold, and real estate into collateral for decentralized finance (DeFi) protocols. In summary, Conflux is part of a dynamic and evolving blockchain sector that is focusing on improving transaction efficiency, enhancing interoperability, and integrating real-world assets into the blockchain ecosystem. These developments are set to shape the future of blockchain technology and its application across various industries.
The tokenomics of Conflux (CFX) can be understood in terms of its distribution and total supply. The total supply of CFX tokens is 5,445,318,093. The distribution is designed to incentivize network participation and benefit long-term holders. Here's a breakdown of the allocation:
45% for the public sale, conducted in two stages. The first stage sold 500 million CFX tokens at $0.125 each, and the second stage sold 800 million CFX tokens at market-determined prices.
20% for the team and advisors, with a vesting schedule spread over several years.
15% for ecosystem development, including the creation of dApps, partnerships, and marketing activities.
12% for the foundation to support ongoing development, maintenance, and research activities.
8% for partnerships and marketing. As for the supply schedule, specific details on the unlock schedule or rate of token release over time were not readily available in the sources I accessed. This information is crucial for understanding the long-term dynamics of the token supply, as it can impact the market availability of tokens and potentially their value. For the most current and detailed information on the supply schedule, it might be best to refer directly to official Conflux Network sources or documents.
Team Behind Conflux
Founding and Leadership: Conflux Network was founded by a team of researchers and developers from Tsinghua University in China and the University of Toronto in Canada. The notable figures in its establishment include Turing Award recipient Dr. Andrew Yao, who played a key role in its development in his research lab.
Core Team: The core leadership team comprises Fan Long, the founder and president of Tree-Graph Blockchain Research Institute, YuanJie Zhang, and Ming Wu, who are co-founders and chief technology officers. Other key figures include Andreas Veneris and Andreas Park, serving as advisers.
Founders: The official co-founders of Conflux Network are identified as Fan Long (CEO) and Xiaolong Wang (Chief Scientist). David Chow is also mentioned as a founder.
Team Composition: The core team is composed of a diverse group of professionals, including scientists, business managers, and researchers. Funding History
Seed Round: On December 4, 2018, Conflux raised $35 million in its seed funding round.
Series A Funding: The project's last funding type was a Series A round. However, the amount raised in this round is not specified in the sources.
Private Funding Rounds: Conflux had several private funding rounds, with notable raises including:
Private 1 Round: Raised $29.9 million at a price of $0.064 per token.
Private 2 Round: Raised $3.96 million at a price of $0.08 per token.
Private 3 Round: Raised $1.05 million at a price of $0.1 per token.
Recent Funding: As of March 1, 2023, Conflux raised an additional $10 million in a funding round.
Investors: Among the investors in Conflux, DWF Labs is highlighted, although specific details about their investment are not provided.
List all important events and milestones in the development process of conflux(CFX).
Origin and Founding (2018): Conflux originated in the research lab of Turing Award recipient Dr. Andrew Yao at Tsinghua University. It was founded by researchers from the University of Toronto, led by Dr. Fan Long, aiming to address the shortcomings of existing blockchain technologies. The team developed a novel Tree-Graph consensus mechanism to tackle the 'blockchain trilemma' problem, optimizing security, scalability, and decentralization. In 2018, the Conflux Foundation was established, and a regulatory-compliant fundraise was completed.
Global Expansion: Conflux has expanded its operations globally, with a distributed team across four continents and offices in Toronto, Canada, and Lagos, Nigeria. The leadership comprises researchers and business leaders from top universities worldwide.
Mainnet Launch (2019): In 2019, Conflux launched its mainnet, developed in three phases. It became the first public blockchain in China to use a hybrid proof-of-work (PoW) and proof-of-stake (PoS) consensus mechanism.
Partnership with Little Red Book (January 2023): Conflux partnered with Little Red Book, the Chinese equivalent of Instagram, to provide NFT services to the platform's 200 million users. This partnership led to a 90% increase in CFX's price.
Blockchain-Based SIM Cards Development (February 2023): Conflux announced a partnership with China Telecom to develop blockchain-based SIM cards. The trial program is set to launch in Hong Kong and later in key locations in mainland China.
Market Performance (2023): In 2023, the price of CFX significantly increased, with a notable surge of nearly 1,335% year-to-date, reaching its highest level in 14 months.
Token Burn Proposal (2023): Ahead of a vote on a token burn proposal, the Conflux Foundation has already burned close to 500 million CFX.
As of 2023, Conflux (CFX) has made notable progress in its development. Two significant events stand out:
On February 15, 2023, Conflux announced a partnership with China Telecom to develop blockchain-based SIM cards. The trial program is expected to first launch in Hong Kong later this year, followed by key locations in mainland China such as Shanghai.
In late January 2023, Conflux partnered with Little Red Book, the Chinese equivalent of Instagram, to provide NFT services for the social media platform’s 200 million users. This partnership led to a 90% increase in the price of CFX. Unfortunately, I couldn't find detailed information regarding the specific future roadmap for Conflux (CFX) for the year 2023 or beyond during the search. This information might be available on the official Conflux website or through direct community engagement platforms but wasn't accessible within the scope of the search I conducted. To get the most accurate and comprehensive details about their future plans, I recommend checking the latest updates directly on Conflux's official channels.
Conflux Network Official Website: This is the primary source of information about Conflux, including news, updates, and details about the technology and its ecosystem - Conflux Network
Conflux Ecosystem: For an understanding of the various projects, partners, and applications in the Conflux ecosystem - Ecosystem
Conflux News Feed: To stay updated with the latest news and announcements from Conflux - News Feed
Fluent Wallet: This is the official wallet for Conflux, where you can create a new wallet for managing CFX and other tokens on the Conflux network - Fluent Wallet
Tools and Tutorials: For developers and users interested in learning how to interact with the Conflux network, including SDKs, APIs, and other tools - Tools and Tutorials
Technology and Resources: Detailed documentation on Conflux's technology, including whitepapers, technical resources, and research - Technology and Resources
Grants Program: Information about the Conflux grants program, which supports projects and ideas that contribute to the Conflux ecosystem - Grants
Community and Development Resources: Links to join the Conflux Discord community, explore development documentation, apply for grants, run a node, or become an ambassador - Community and Development Resources
Techopedia: Predicts a high of $0.1708 for CFX by the end of 2023, and an average price of $0.2255 in 2025. They suggest an average price of $0.1468 for 2023.
Sellix: Reports that as of March 6, 2023, Conflux was one of the best performing tokens with a price of $0.3132, reflecting a growth of +1328% in two months. The first 23 days of February saw a rise of +472%. This boom was attributed to strategic partnerships with Chinese telecommunications and media companies, such as China Telecom and Little Red Book. Conflux's success is seen in the context of the Chinese government's restrictive policies towards cryptocurrencies, making it a secure and reliable alternative for Chinese companies. However, there's an indication of price resistance which may lead to a consolidation phase before potential recovery.
Coincodex: Their current prediction is slightly bearish, foreseeing a drop of -7.27% to reach $0.138806 by December 5, 2023. They mention a "Bearish" current sentiment and a "Greed" level of 74 on the Fear & Greed Index. Conflux recorded 57% green days with a 4.67% price volatility over the last 30 days.
Investing.com: Presents a broad range of price predictions for CFX, from a low of $0.0550 to a high of $1.9116, suggesting the possibility of the price reaching above $2. The bearish market price prediction for 2023 is not specified.
CryptoNewsZ: Views the future of Conflux Network price optimistically due to upcoming collaborations and technological developments. They expect an average price of $0.29 for 2023, with a minimum of around $0.17 and a maximum of $0.41.
More Context from Sellix: They detail Conflux's performance history, noting that while it peaked at $1.75 in March 2021, it also experienced significant lows, reaching $0.022 per token in December. News events like partnerships have had a strong impact on its price. The price might stall at the $0.32/$0.33 area, with the possibility of a retracement phase, but optimistic estimates predict a rise of 132.17% by the end of the month, potentially reaching $0.685. In summary, while there is optimism about the future potential of Conflux, largely due to strategic partnerships and its unique position in the Chinese market, the predictions for its token valuation in 2023 are mixed, ranging from moderate gains to potential retracements. The diverse range of predictions reflects the volatile nature of the crypto market and the specific challenges and opportunities faced by Conflux.
Conflux is a permissionless Layer 1 blockchain connecting decentralized economies across borders and protocols. Recently migrated to hybrid PoW/PoS consensus, Conflux provides a fast, secure, and scalable blockchain environment with zero congestion, low fees, and improved network security.
As the only regulatory compliant public blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia. In the region, Conflux has collaborated with global brands and government entities on blockchain and metaverse initiatives, including the city of Shanghai, McDonald's China, and Oreos.
CFX is the native token for the Conflux Network. It is a hard-capped scarce asset used to pay fees, and secure the network through staking. Each CFX contains 10^18 Drip. Transactions on Conflux are handled similarly to those on the Ethereum network, with CFX playing a similar role as ETH. Users submit a contract with a gas limit and a gas price; the latter is denominated in CFX.
Users can interact with Conflux Network ecosystem applications through wallets. Users can use CFX to participate in governance votes, stake their tokens to earn network interest, or pay for the network's storage and transaction fees.CFX can be staked at any of the Staking Pools operated by the Conflux community.
As of 2024, Conflux continues to expand its role as a scalable and secure Layer 1 blockchain, with its hybrid Proof of Work (PoW) and Proof of Stake (PoS) consensus model. This hybrid approach, enhanced by the Tree-Graph algorithm, allows the network to process over 6,500 transactions per second, significantly faster than many traditional blockchains. By maintaining high throughput, Conflux ensures minimal congestion and low transaction fees, making it ideal for a wide range of decentralized applications (dApps), including DeFi, NFTs, and gaming.
A key milestone for Conflux in 2024 is its increasing regulatory compliance, particularly in China, where it remains the only public blockchain recognized by authorities. This compliance has opened doors to major collaborations with global brands like McDonald's China and regional governments such as the city of Shanghai. These partnerships support both blockchain and Metaverse initiatives, further positioning Conflux as a gateway for global projects looking to enter the Asian market.
Above are only for introduction, not intended as investment advice.