Latest Conflux updates on February 22nd

Conflux Network, a permissionless, hybrid blockchain project, has recently announced several important updates and partnerships. On February 21st, Conflux was listed on Lbank, Round One On-chain DAO voting results were activated, and PoW basic reward was adjusted from 2 CFX to 1 CFX. On the same day, the project has announced a strategic partnership with Goledo Finance and Coinhub Wallet, and BitKeepOS expressed their willingness to collaborate. Kucoin also supported Conflux even more, and 4everland, OpenBlockWallet, and TokenPocket also announced partnerships. Just two days before, Binance Futures launched USDⓈ-M CFX perpetual contracts, joining the 10 million CFX staked in the Multichain X Conflux X Nucleon contest. Additionally, the collaboration with China Telecom enabled the creation of a Blockchain-enabled SIM card or BSIM. Finally, Meson launched a special “Swap to Conflux eSpace” campaign, and Bitget Hong Kong Zone listed CFX and MDT. All these updates and partnerships are expected to further expand the Conflux ecosystem.

What is Conflux ?

The Conflux project is a revolutionary new blockchain technology that is designed to improve the user experience and provide greater scalability while ensuring that security and decentralization are not compromised. The project is powered by the CFX token, which is used to pay transaction fees, earn rewards through staking, rent storage, and participate in network governance.

Conflux is built on a breakthrough Tree-Graph consensus algorithm, which uses parallel processing of blocks and transactions to lower confirmation times and increase TPS. This is accompanied by a highly tested Proof-of-Work consensus system to provide increased security and anti-reentrance attack protection at the protocol level. Conflux also features ShuttleFlow, a lightening fast cross-chain asset bridge that enables seamless asset transfers between multiple protocols. With Conflux, users can also benefit from a fee sponsorship mechanism that allows people with zero wallet balance to still engage with the blockchain.

The Conflux network offers numerous advantages over traditional blockchain systems. It has unmatched scalability, eliminating the consensus bottleneck of other blockchains without sacrificing security or decentralization. Furthermore, it has built-in staking interest that provides a foundation for innovative DeFi apps, with staked tokens currently receiving an annualized rate of 4%. Finally, Conflux also provides users with an easy-to-use Fluent wallet, making it easy to store, send and receive CFX tokens.

Overall, the Conflux project is a revolutionary new blockchain technology that is designed to revolutionize the way we use blockchain. It offers a secure, scalable, and interoperable platform that is accessible to all users and provides a foundation for the development of innovative DeFi applications. If you’re interested in learning more about the Conflux project, visit the official website for more information.

This article was published on 2023-01-29 by Marc Endevor. Information shown in this article was gathered from the project’s website and Twitter account. Coinvestigate cannot guarantee the accuracy of this information, or any news that may have impacted the project in the meantime.