Conflux is a Layer-1 blockchain network that supports decentralized applications (dApps) with high throughput, scalability, and decentralization. The blockchain utilizes a Proof-of-Work (PoW) consensus for enhanced security at the protocol level.

Conflux Networks Tree-Graph consensus algorithm differentiates it from Bitcoin and other competitors. This mechanism allows the network the power of parallel processing of blocks, significantly increasing transaction processing capabilities and lowering confirmation time.

The blockchain is also developer-friendly, thanks to integrating popular tools and programming languages into the developer environment. This encourages dApp development activities and helps build the Conflux ecosystem rapidly.

CFX is the native crypto asset of the Conflux Network. It is used to pay transaction fees, earn rewards via staking, rent storage, and participate in the blockchains governance mechanism.

Conflux leverages a Tree-Graph structure for its consensus algorithm, unlike the linear nature that most leading blockchains utilize. This divergent structure allows Conflux to confirm multiple blocks concurrently, and the ability to process multiple blocks in parallel gives the blockchain a higher throughput and lower confirmation time.

The Tree-Graph ledger can incorporate all valid blocks into a single data structure, including the concurrently processed ones. Confluxs use of the Tree-Graph model and the GHAST chain selection mechanism offers the blockchain higher scalability and robustness for dApps deployed on its platform.

The Conflux Network also supports blockchain interoperability through its ShuttleFlow cross-chain asset bridge. The high-speed cross-chain blockchain bridge allows for the seamless transfer of digital assets between multiple sustained blockchain ecosystems.

Although it utilizes a PoW consensus mechanism, Conflux also has inbuilt staking capabilities. The feature serves as a foundation for innovative DeFi dApps on the blockchain, receiving a 4% annualized rate of returns.

Conflux Network is the brainchild of Turing Award-winning scientist Dr. Andrew Yao who started work on the blockchain at Tsinghua University. The Conflux Foundation was established in 2018 and received funding to begin working on an open-source application framework based on the innovative Tree-Graph consensus mechanism.

Conflux set up the Tree-Graph Research Institute in partnership with the government of Shanghai and the Key Laboratory of Blockchain Infrastructure & Applications with the government of Hunan in 2020. This institute was created to drive the development and adoption of the Conflux blockchain.

The internal testnet of the Conflux Network was launched in May 2018. In December of the year, the firm received $35 million in funding to develop the blockchain. The public testnet of Conflux was launched in Q2 201, while the Conflux mainnet went live in Q4 of the year.

According to its founder, Conflux is China's only regulatory-compliant public, permissionless blockchain. This was possible because the founders did not have a public token sale to raise funding, helping it enjoy the backing of the Shanghai government.

Through 2022, the developers behind the project worked on critical features, including reinforcing the Conflux consensus mechanism by adding PoS finality to enhance its PoW consensus. The EVM functionality was also rolled out in Q1 2022, while Conflux IPFS and other enhancements to Web3 infrastructure followed in Q3 of the year.

Conflux is a promising cryptocurrency to invest in, especially if you wish to diversify your portfolio into the Web3 and DeFi sectors of the industry. The highly efficient and scalable blockchain offers a robust platform to develop scalable dApps and could experience an uptick in adoption as Web3 goes mainstream.

The rising adoption of the Conflux ecosystem among dApp developers and users could drive up the value of CFX token. The CFX price could also experience an uptrend amid the networks rising staking and mining activities.

Positive market sentiment towards cryptocurrencies could also benefit the CFX price statistics. A risk-on mood encourages buying activity that could increase the price of Conflux.

While it is impossible to provide an accurate prediction of the CFX crypto price over time, there are several key factors that can affect its price action and volatility. These factors include:

Level of Adoption

As more developers design and deploy dApps on the Conflux Network, the value of the CFX token could potentially increase. The increased on-chain activity resulting from more users accessing these dApps can also contribute to an uptick in the CFX price.

Future Developments

Investor confidence tends to rise when Conflux announces new upgrades, partnerships, integrations, and investments in its project. Such developments can also contribute to bullish momentum in the Conflux price in the market.

Market Outlook

A positive outlook towards crypto assets in general, as well as Web3, DeFi, and other areas of the crypto industry, plays a crucial role in driving price action in the CFX crypto. A positive sentiment among investors leads to increased buying activity, thereby driving up the price of the Conflux token. Conversely, a bearish or risk-averse sentiment towards crypto assets could weaken the CFX price.

CFX is the native token of the Conflux Network and has various applications:

Native Currency

CFX is used to pay transaction fees when executing smart contracts, interacting with dApps, or using the Conflux blockchain. It serves as the utility token of the Conflux ecosystem.

Incentive Token

CFX is also distributed as a reward to miners who contribute towards the PoW consensus mechanism of the Conflux Network. Miners receive rewards in CFX for helping validate transactions and produce new blocks that get added to the network.

Staking

The Conflux Network utilizes a unique consensus model of enhanced PoW with PoS finality. This allows users to stake CFX on the network and earn rewards, growing their holdings conveniently.

Crypto Asset to Trade and HODL

Trade Conflux against other cryptocurrencies to profit from changing market conditions and volatility. You can buy or sell CFX against other crypto assets or hold it long-term if you believe in the future potential of the Conflux Network. Review the current price of Conflux coin, CFX current market cap, current circulating supply, and 24-hour trading volume, and perform technical, sentiment, and fundamental analysis on the CFX price chart before trading Conflux Network.

Earn Passive Income on BYDFi

You can also grow your CFX holdings safely and quickly with BYDFi Crypto Lending. Use this feature to lend liquidity in CFX to BYDFi and earn attractive daily interest over seven days, 14 days, or 28 days.

You can stake CFX on Conflux to contribute to the PoS finality of the networks consensus mechanism and earn passive income. Here's how to stake CFX on Conflux:

1. Create an account on Fluent Wallet - the official crypto wallet of Conflux Network. Fund your wallet with sufficient tokens by buying Conflux on BYDFi or other supported platforms and withdrawing the tokens to your wallet address.

2. Visit the Staking section of the Conflux Network website and connect your wallet to the interface.

3. Enter the number of CFX tokens you wish to stake on the Stake & Unstake section of the page.

4. Click on Stake to process the transaction and stake your tokens.

5. Sit back, earn rewards, and grow your crypto holdings by staking $CFX on Conflux Network.

You can also lock your CFX holdings on the page to participate in the governance mechanism and enjoy voting rights. To do this, enter the number of CFX tokens in the Lock section of the page, select your locking duration, review the final total voting rights, and click on Lock to confirm the transaction.

Investors in the Conflux Foundation include Fundamental Labs, Baidu Ventures, Sequoia Capital China, and more. Conflux Networks investors include Galaxy Blitz, DWF Labs, Shanghai Science and Technology Committee, 7 Star Capital, Bitrise Capital, BSG Group, and F2Pool.

Some of the projects and companies the Conflux Network has partnered with include Celer, Top Network, TEEX, Oath Protocol, bloXRoute Labs, Bifrost, Chainlink, and more.