Conflux Chain

Conflux Network operates as a permissionless Layer 1 blockchain, positioning itself as a conduit for connecting decentralized economies across different protocols and international borders. The company was founded in 2018. The founding team includes Turing Award recipient Dr. Andrew Yao, alongside Fan Long, YuanJie Zhang, and Ming Wu. The project's genesis can be traced back to a research paper from Dr. Andrew Yao's lab at Tsinghua University.

The core of Conflux's technology is its Tree-Graph consensus algorithm, designed to process blocks and transactions in parallel. Initially launched with a Proof-of-Work (PoW) consensus mechanism, the network has since transitioned to a hybrid model that incorporates Proof-of-Stake (PoS). This hybrid system aims to leverage the security of PoW while enhancing network performance and scalability. The architecture is designed to deliver high throughput and low transaction fees, addressing common blockchain scalability challenges.

A significant aspect of Conflux's strategy is its status as the only public blockchain that is compliant with regulations in China, which provides a strategic advantage for projects aiming to enter the Asian market. This has facilitated collaborations with prominent entities within the region. The network supports smart contracts and decentralized applications (dApps), functioning similarly to other programmable blockchains. Its native token is CFX, which is used for paying transaction fees, participating in network governance, and as a reward for miners and stakers who secure the network.

Keywords: layer 1 blockchain, Tree-Graph, hybrid PoW/PoS, decentralized applications, smart contracts, regulatory compliant, blockchain infrastructure, Web3, cross-border, public blockchain