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Conflux Network (CFX) is the 143rd largest cryptocurrency in the world by market cap, valued at $373,928,781. The current price of Conflux Network is $0.06977, which is -8.690% lower than yesterday. Prices have ranged between $0.08354 and $0.05751 over the past 24 hours. All prices are listed in US dollars and accurate as of February 03, 2023 06:02 UTC.
Conflux Network is a high-throughput blockchain based on a unique Proof-of-Work (PoW) consensus mechanism. The network was created by Turing Award recipient Dr Andrew Yao and is the only state-backed public blockchain operating in China.
It was built with the aim of high throughput, fast confirmation and to be utilised by global communities and economies.
The blockchain can process 3,000-6,000 transactions per second (tps), which is a transaction rate much higher than blockchains such as Bitcoin and Ethereum. The PoW mechanism, called Tree-Graph, optimises security and scalability without compromising decentralisation.
CFX is the native token of the Conflux Network and is at the core of the network’s ecosystem. The CFX token was designed to provide several economic benefits and promote participation in the network by rewarding behaviours that contribute to optimum functionality. Each token consists of smaller units known as Drips. These are comparable to Satoshis on Bitcoin. Drips are used to pay for transaction fees on the network. Any fees are collected and awarded to miners or those that maintain the Conflux Network.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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