$CFX $ $#Conflux

#CFX

#ChinaBlockchain

#Layer1

Conflux (CFX) is a layer 1 blockchain designed to address the challenges of scalability, security, and decentralization that other networks face. Unlike traditional blockchains that process blocks sequentially, Conflux uses a unique data structure called Tree-Graph.

The heart of the technology: Tree-Graph

In a classic blockchain (like Bitcoin), transactions are grouped into a single block, and miners compete to add that block to the chain, one after another. This can lead to slowdowns and bottlenecks when there is high traffic on the network.

Conflux's Tree-Graph allows multiple blocks to be processed in parallel. Instead of a single chain, a tree structure is created where multiple "branches" of blocks can coexist. Then, a special consensus algorithm chooses the heaviest branch (the one with the most mining work behind it) to determine the final order of transactions. This allows the network to process a large number of transactions per second (TPS) without compromising security or decentralization.

Compatibility and interoperability

Conflux is compatible with the Ethereum Virtual Machine (EVM). This is very important as it allows Ethereum developers to easily migrate their decentralized applications (dApps) to the Conflux network to take advantage of its low fees and high speed.

Additionally, Conflux features ShuttleFlow, a cross-chain bridge that facilitates the transfer of digital assets between Conflux and other networks like Ethereum, Binance Smart Chain, and more. This enhances interoperability and connection with the Web3 ecosystem as a whole.

The CFX token and its uses

The CFX token is the native asset of the Conflux network and has several key functions:

* Transaction fees: It is used to pay the gas fees required to execute transactions and smart contracts on the network.

* Governance: CFX token holders can participate in the governance of the network by voting on proposals.