What is Conflux Network (CFX)?
Conflux —— A High Throughput Blockchain Network Powered by Tree-Graph
- Conflux Network is a scalable and decentralized blockchain network that aims to have high throughput and fast confirmation.
- Conflux uses the original GHAST consensus protocol. The GHAST protocol can process concurrent blocks optimistically without discarding any forks, so it can make full use of network bandwidth to obtain higher throughput.
- The network uses the Tree-Graph, a novel consensus mechanism that optimizes security and scalability without sacrificing decentralization.
- CFX is the native utility token of the Conflux Network and has the following use cases: Network Consensus; Ecosystem Incentivization; Governance; Staking.
Conflux Network Key Metrics
Conflux Network originated from the research lab of Turing Award recipient Dr. Andrew Yao at Tsinghua University.
This progressive research provides a solution to the ‘blockchain trilemma’ problem with a novel Tree-Graph consensus mechanism that optimizes security, scalability and decentralization.
In 2018, the Conflux Foundation was formed and a regulatory compliant fundraise was completed to build an open infrastructure based on this breakthrough consensus mechanism. Soon after, Conflux established itself as the only state endorsed public, permissionless blockchain in China.
Conflux has also expanded its global operations and community with a diverse distributed team of more than 50 members across over four continents, including offices in Toronto, Canada and Lagos, Nigeria.
CFX is the native utility token of the Conflux Network and has the following use cases:
- Network Consensus: Miners will receive block rewards for each block that they create, and transaction fees for the code execution.
- Ecosystem Incentivization: To incentivize users for meaningful and value-generating economic activity.
- Governance: CFX holders can vote on network governance decisions.
- Staking: The network will distribute rewards on all staked tokens at a fixed rate of 4%. The rewards will be added to the user’s holdings at the time when the user un-stakes his/her tokens.
Conflux Network Project Team
The core leadership of Conflux Network is comprised of prominent researchers, distinguished scientists and business leaders with backgrounds from some of the top universities in the world, including the Massachusetts Institute of Technology (MIT), Carnegie Mellon University, Tsinghua University and the University of Toronto.
Their collective experience ranges across the fields of distributed systems, computer science, cybersecurity, cryptography, game theory, economics, finance and more.
Conflux Network Project Highlight
Conflux is a scalable and decentralized underlying blockchain platform with high throughput and fast confirmation. Its core theory is that it can allow different blocks to be generated at the same time and use directed acyclic graph (DAG) based the conceptual sorting algorithm avoids the problem of fork. First, determine the overall sorting of all blocks, and then determine the derived transaction sorting, so as to improve the Nakamoto consensus and break the current system throughput limit.
It operates a consensus protocol, GHAST, which processes concurrent blocks without discarding any as forks, and adaptively assigns heterogeneous weights to blocks based on their topologies in the ledger structure (named Tree-Graph).
Conflux Network organizes the blocks in the ledger as a tree-graph structure which tracks the happens-before relationship among blocks. Based on this ledger, Conflux allows all the nodes in the network to produce a consistent total order of blocks. This total order is derived from a pivot chain in the ledger which is selected by applying the heaviest subtree rule in order to avoid double-spend attacks.
This working principle allows Conflux to combine the security and stability of Bitcoin with the scalability of modern blockchains in a single network. The Conflux model ensures three very desirable attributes of the blockchain network: security, concurrent transaction processing, and correctness.