What is Conflux Network?
Conflux Network (CFX) is a blockchain platform designed to provide fast transaction speed and high level of security. Built using a government-backed research project in China, it uses a Proof-of-Work (PoW) consensus mechanism optimized for high performance and scalability.
Conflux Network uses a unique tree-grafting technology known as the Conflux Tree to confirm transactions while ensuring the integrity of the blockchain. The platform also supports smart contracts that run on a virtual machine based on the Ethereum Virtual Machine (EVM), meaning developers can easily deploy existing Ethereum dApps on Conflux.
CFX token is the native cryptocurrency of the Conflux network and is used for transaction fees, incentivizing miners to keep the network safe and as a staking reward for node operators.
The power and popularity of Conflux
The rise in the price of CFX this year can largely be attributed to the project’s strong fundamentals. On January 26, the price of CFX jumped more than 90%, two days after the company joined China-based social media platform Little Red Book.
In addition to generating a lot of publicity, these major deals have also led to increased searches for Conflux Network-related terms, indicating growing interest from retailers. The global Google Trend score for the keyword “Conflux Network” reached 93 and 100 between January 22 and February 28 and February 12 and February 18, respectively.
