Conflux
About Conflux
Conflux (CFX) is a public blockchain that powers decentralized applications and Web 3.0 infrastructure. It aims to provide a scalable, decentralized, and secure platform for transferring assets, while alleviating network congestion and reducing transaction fees. Conflux's growth is facilitated by the CFX token which incentivizes user participation. It is also used to pay for transactions, govern the network, and reward miners.
In the last hour, Conflux's price has seen a change of -1.68%, and over the past 24 hours, its price has moved by -1.24%. Over the previous week, Conflux's price has moved by +8.01%. The current price of Conflux is $0.05526, accompanied by a trading volume of 12.01M in the last day. Conflux's price is currently 96.76% below its all-time high of $1.7038, which remains the highest price Conflux has achieved since its launch. The circulating supply of Conflux stands at 5.243B, translating to a total market capitalization of 289.7M.
Market stats
Frequently asked questions
What is the Conflux network?
The Conflux network and its trading symbol (CFX) is a decentralized blockchain network classified as a Layer 1 project, designed to support decentralized applications, e-commerce, and Web 3.0 infrastructure, thanks to its scalability, decentralization, and high security compared to existing protocols. Conflux facilitates the transfer of valuable assets by making the process fast, efficient, and free of network congestion, while keeping transaction costs low. The platform relies on a tree-based consensus mechanism and combines Proof-of-Work (PoW) and Proof-of-Stake (PoS) algorithms to achieve consensus. The protocol uses smart contracts written in Solidity, just like those on Ethereum, and is compatible with the Ethereum Virtual Machine (EVM).
How does the Conflux network work?
Conflux (CFX) relies on a hybrid consensus mechanism that combines Proof of Work (PoW) and Proof of Stake (PoS), and utilizes a Tree-Graph architecture based on a Directed Acyclic Graph (DAG). This architecture allows for the parallel processing of multiple blocks and transactions rather than sequencing them in a single chain, thereby increasing the network’s transaction processing capacity. It uses the GHAST algorithm to determine the optimal branch in terms of work and confirmations as the valid ledger, maintaining transaction order and preventing double-spending. Conflex also fully supports the Ethereum Virtual Machine (EVM), allowing smart contracts and applications built on the Ethereum blockchain to run with limited modifications. CFX token holders can participate in staking to contribute to the network’s security and earn rewards.
How do you buy CFX through Rain?
We are constantly working to expand our list of listed assets, and although we cannot provide a specific date for the listing of Conflex (CFX) at this time, you can follow the latest updates through our official social media channels such as X.
Rain is licensed by the Central Bank of Bahrain (CBB) and the Abu Dhabi Global Market Financial Services Regulatory Authority (ADGM FSRA). This provides customers with a regulated framework for trading digital assets in the region.
What are the risks and considerations?
Before buying CFX, it is important to understand the associated risks:
• Price volatility risk: the currency may be subject to sharp price fluctuations.
• Liquidity risk: liquidity may affect the currency’s price movement.
• Legislative and regulatory risk: legislation and regulations may impact the currency’s future and growth.
• Security risks: you must protect your account with a strong password and two-factor authentication, and choose an appropriate storage method after researching it thoroughly.
You should not purchase CFX based solely on price predictions. Instead, you should study the whitepaper, the currency’s use cases, the project’s vision, and your risk tolerance before making any decision.
What is the Conflex network?
It is a high-speed, first-layer blockchain network that uses a unique, tree-based architecture to process transactions in parallel.
What are the uses of CFX tokens?
CFX tokens are used to pay network transaction fees, earn staking rewards, and vote on governance proposals.
Can CFX tokens be mined?
CFX tokens cannot be mined, as they rely on a hybrid consensus mechanism that leverages the security features of the Proof-of-Stake mechanism to protect the network.
What is a Conflux wallet?
A Conflux wallet is where you can securely store Conflux. A wallet helps you maintain ownership of your asset as well as enable you to trade, send or receive crypto-assets.
What is a Conflux address?
A Conflux address is a string of unique characters that is tied to your Conflux wallet. The address functions just like a bank account number and it is what you use in order to send Conflux from your wallet, or to receive Conflux to your wallet.
What are the most popular cryptocurrencies besides Conflux?
Besides Conflux, you can find over 150 assets available on Rain for you to start trading such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), USDC, Ripple (XRP), DOGE, Tether (USDT), Chainlink (LINK) or BCH. You can explore these options by going to the homepage of your account and scrolling through the available assets. When you are ready to start trading, simply click on the asset of your choice and click Trade.
What will the price of Conflux be in next 5 years?
Price predictions for Conflux over the next five years are highly speculative and depend on crypto market conditions, adoption, and broader crypto trends. We encourage you to do your own research and make informed decisions.
Is trading Conflux taxable?
Trading Conflux may be considered taxable in some countries with varying tax rules, so we recommend checking with your local tax authority or financial advisor for specific guidance.
What is Conflux's ATH?
Conflux’s all-time high (ATH) was $ 1.7038 on 27 Mar 2021. This represents the highest recorded market price of the asset to date.
When will Conflux be available on Rain?
We’re always working to expand our listed assets. While we can not provide a specific listing date for Conflux just yet, stay tuned for updates by following us on our official social channels like X.
What is the market cap of Conflux?
With a market capitalization of 289.7M, Conflux is ranked 110 among other crypto assets.
What is the all-time high of Conflux?
The highest valuation of Conflux since its launch was at $1.7038, marking its all-time high.
What is the 24-hour trading volume of Conflux?
The trading activity of Conflux over the last 24 hours was at 12.01M, highlighting its liquidity in the market.
How many Conflux are there in circulation?
There are approximately 5.243B units of Conflux currently in circulation, affecting its market dynamics.
What is the relative popularity of Conflux?
Conflux market cap is around 289.7M.
When was Conflux created?
Conflux was introduced on 23 Oct 2020.
Website
White paper
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