【New Coin Recommendation】Conflux(CFX) Information

Conflux is a high-speed, scalable and fully decentralized blockchain system that can efficiently process concurrent blocks without losing any forks. Conflux uses a consensus protocol based on a "tree graph" structure to reach consensus on the order of blocks and transactions. In a test with 20,000 consensus nodes (deployed on an Amazon EC2 cluster), Conflux achieved a throughput of 5.76 GB per hour and a confirmation time of 4.5-7.4 minutes. Based on typical Bitcoin transactions, Conflux's throughput is equivalent to processing 6,400 transactions per second. The experimental results show that the performance of Conflux will make the consensus protocol no longer a bottleneck for throughput.

Project name: Conflux

Token Symbol: CFX

Project official website: https://www.conflux-chain.org

Github: https://github.com/conflux-chain

Twitter: https://twitter.com/ConfluxChain

Block Explorer: http://www.confluxscan.io/

Bounty community: https://bounty.conflux-chain.org/ (earn tokens by completing tasks)

Mainnet launch: April 2020

Economic model: To be announced

Conflux Chinese Community:

Founding Team:

Most of the Conflux team members come from Tsinghua University's "Yao Class", as well as Massachusetts Institute of Technology (MIT), Carnegie Mellon University (CMU), University of Illinois at Urbana-Champaign (UIUC), Tsinghua University, Shanghai Jiaotong University, University of Science and Technology of China and other well-known universities. Many of them have won gold medals in the International Olympiad in Informatics (IOI) and the ACM-ICPC Programming Contest. The Conflux core technical team is composed of senior engineers who have worked for many years in well-known companies such as Google, Microsoft, and Uber, technical managers of Wall Street hedge funds, and computer professors at top North American universities.

Mainnet launch process

The original plan was to launch the mainnet at the end of March this year. However, due to the epidemic, the launch of Conflux's mainnet will be postponed to April. The specific time depends on whether bugs are found during the testnet operation and the progress of the repair. The Conflux mainnet will be divided into three phases, and different functions will be launched in each phase.

The first phase is expected to be launched in April this year. During this phase, the Dex protocol independently developed by Conflux and the Conflux underlying system will be put into use, and at least one partner decentralized exchange using the Conflux Dex protocol will be launched. FC will trade with other mainstream currencies on the above decentralized exchanges. During this phase, the main thing is to ensure that the on-chain matching and cross-chain asset technology shake out all the bugs, which is more like grayscale testing. We will control the total amount of on-chain assets within a controllable range. If user assets are damaged due to technical problems, the Conflux Foundation will compensate for all losses.

In the second phase , Conflux's Pow mining algorithm will be launched. In this phase, we will conduct a certain scale of mining tests and call on the community to participate in mining activities on a larger scale to provide the network with higher computing power and security. As the computing power and security of the main network increase, DEX will absorb more mainstream assets, and the foundation will promote the community to gradually build a Defi ecosystem around mainstream assets. In this phase, all-round testing of mining algorithms, applications, DEX and other Defi will be implemented, and released to the community to a certain extent to increase the degree of decentralization, but at the same time, ensure that the team's attention and focus are not affected by secondary market fluctuations at this stage.

The third stage will be a relatively complete and stable Conflux mainnet.

The reason for taking three stages is that the underlying public chain has high requirements for security and reliability, so we hope to gradually debug each core function, build an ecosystem, and accumulate some assets on the chain. After all three stages are completed, a mature and stable version will be produced. Ensure that the main network that is finally launched has assets, an ecosystem, and users, presenting a valuable consensus to the community.