About Conflux (CFX)

Conflux Network is a scalable and decentralized blockchain system designed for DApps, finance, and Web 3.0. It combines Proof of Work and a Tree-Graph structure to enable fast and secure transactions. Developed by top minds from Tsinghua University and University of Toronto, Conflux Network aims to promote cross-border collaboration through open-source technologies. The network operates on the GHAST consensus protocol, which processes concurrent blocks optimistically without discarding any as forks, ensuring high throughput and fast confirmation.

Conflux Network has undergone rigorous security testing, with the GHAST protocol guaranteeing logarithmically bounded liveness and low confirmation latency when adversarial computing power is limited. In real-world testing on Amazon EC2 clusters with up to 12,000 Conflux full nodes, the network achieved a consensus throughput of 9.6Mbps per node with a network bandwidth limit of 20Mbps. With a combined workload of random payment transactions and Ethereum historical transactions, Conflux Network can process up to 3,480 transactions per second while confirming transactions in under one minute. This makes it a promising platform for decentralized commerce and high-speed transactions.

How does Conflux work?

Conflux (CFX) is a decentralized blockchain platform that enables peer-to-peer transactions without the need for intermediaries. It utilizes a Proof of Work (PoW) consensus mechanism combined with a Tree-Graph structure to achieve high throughput and scalability. This unique architecture allows Conflux to process thousands of transactions per second, making it ideal for applications requiring fast and secure transactions. Conflux also supports smart contracts, enabling developers to create decentralized applications (dApps) on its platform. Its decentralized nature ensures transparency and security, making it a reliable platform for various industries such as finance, supply chain management, and gaming. Overall, Conflux stands out from traditional financial systems by offering a decentralized, efficient, and secure platform for a wide range of applications.

How to keep your Conflux (CFX) safe?

To keep your Conflux (CFX) safe, consider using hardware wallets like Ledger for enhanced security measures. These wallets store your private keys offline, making it harder for hackers to access your funds. Additionally, trusted platforms like OKX and Binance offer secure storage options and two-factor authentication to further protect your assets. By utilizing these tools and platforms, you can ensure the safety of your CFX holdings and minimize the risk of unauthorized access.