CONFLUX Price(CFX)

Conflux Network (CFX) is a regulatory-compliant public blockchain in China, known for its hybrid proof of work/proof of stake consensus mechanism. It recently introduced an EVM-compatible Bitcoin Layer 2 solution to enhance interoperability within its ecosystem.

Conflux's Tree-Graph structure and GHAST consensus algorithm enable high throughput and security, distinguishing it from other blockchains like Bitcoin and Ethereum. The network supports Turing-complete smart contracts, cross-chain compatibility with Bitcoin and Ethereum assets, and offers robust SDKs for developers.

The Hydra upgrade on the Conflux Network has significantly improved the blockchain by introducing a proof of stake component, the Spaces concept, and an EVM-compatible Bitcoin Layer 2 solution. The Hydra hard fork enhances security, project flexibility, and scalability. The Spaces feature Core Space for launching new projects and eSpace for deploying Ethereum projects at a low cost. The addition of an EVM-compatible Bitcoin L2 solution enables seamless asset transfers between Conflux and Bitcoin, fostering DeFi and GameFi app development.

Spaces in the Conflux network are distinct areas within the blockchain that serve different purposes. The Core Space represents the original Conflux network, while the eSpace is fully EVM-compatible and operates as a sub-chain over Core Space. The introduction of Spaces allows for greater flexibility in deploying projects and DApps on the Conflux network.

The Tree-Graph structure in Conflux is a unique feature that allows the network to process multiple blocks simultaneously, significantly increasing its throughput compared to linear blockchains like Bitcoin and Ethereum. This structure, combined with the GHAST consensus mechanism, manages transaction execution order with scalability and security in mind.

The GHAST consensus algorithm plays a crucial role in the Conflux network by managing the execution order of transactions with scalability in mind. This algorithm, combined with Conflux's Tree-Graph structure, allows for parallel processing of multiple blocks simultaneously, significantly increasing the network's throughput. GHAST also enhances security by detecting and preventing certain types of chain attacks. The decentralized node structure of the GHAST consensus algorithm enables scalability as more nodes join the network.

The Conflux network features three types of nodes: Full Nodes, Archive Nodes, and Light Nodes. Full Nodes require the most data and are typically used for PoW mining and PoS staking. Archive Nodes are used for RPC service, while Light Nodes function as wallets. Conflux's Tree-Graph structure, combined with the GHAST consensus algorithm, allows for parallel processing of multiple blocks simultaneously, resulting in higher throughput.

Conflux supports Turing-complete smart contracts and interoperability with other blockchains through its innovative technology and features. The network's Tree-Graph structure and GHAST consensus algorithm enable parallel processing of multiple blocks, increasing throughput and scalability. Conflux's Spaces concept, including Core Space, eSpace, and the newly introduced Bitcoin L2 solution, allows for seamless asset transfers between Conflux and other blockchains like Bitcoin.

CFX plays a crucial role in the Conflux network as the native coin used for transactions, staking, and mining rewards. Users can earn CFX rewards by staking their tokens in the PoS system, with an annual base interest rate of 0.04% and an APY of 12.9%. Staking CFX also grants users governance rights, with more voting power earned by staking tokens for longer durations. Additionally, miners earn 1 CFX per block mined. With the introduction of the EVM-compatible Bitcoin Layer 2 solution, CFX can be used as an ERC-20 token for seamless asset transfers between Conflux and Bitcoin.

CFX tokens can be stored and interacted with using Fluent, MetaMask, and Ledger wallets. Fluent is the native web3 wallet of the Conflux network, designed to store CFX and ERC-20 tokens and interact with DApps in the Conflux ecosystem. MetaMask, a popular hot wallet, supports eSpace assets. Ledger, a secure hardware wallet, can store CFX assets in both Core and eSpace. Users can connect Fluent and MetaMask to Ledger Nano S or Nano X for added security.