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About Conflux Token
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Conflux Token FAQ
Conflux is a high-performance public blockchain designed to be the bedrock of Web3 applications. Combining scalability, affordability, and comprehensive support for smart contracts and dApps, Conflux facilitates a dynamic and robust decentralized ecosystem.
Conflux combines the best features of Bitcoin and Ethereum to create an advanced and scalable blockchain. It provides users with a platform that offers various possibilities, rewards, and incentives while remaining cost-effective.
Easily buy CFX tokens on the OKX cryptocurrency platform. OKX’s spot trading terminal includes the CFX/USDT trading pair.
You can also swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for CFX with zero fees and no price slippage by using OKX Convert.
Dive deeper into Conflux Token
In the dynamic landscape of the cryptocurrency industry, the pursuit of Web3, the next evolutionary stage of the internet, is underway. Web3 envisions a decentralized web woven from individual projects, necessitating their interconnectivity for its realization. Amid this landscape, certain projects have gained prominence. Conflux (CFX) stands as a prime example of such innovation.
What is Conflux
Conflux is a public Layer 1 blockchain created to power decentralized apps (dApps), e-commerce, and Web3 infrastructure. With an emphasis on scalability, security, and true decentralization, Conflux takes a unique approach to addressing multiple industry challenges. Through its innovative technical architecture, the project simplifies user and developer interactions with blockchain products, facilitating seamless engagement with its ecosystem.
The Conflux team
Established in 2018, Conflux was founded by Fan Long. A skilled programmer with a focus on cybersecurity and blockchain, Long's journey includes a Ph.D. in Computer Science from MIT after completing his studies at Tsinghua University. Co-founding the project alongside Ming Wu (CTO) and YuanJie Zhang, the team expanded to include Guang Yang as its research director and a dynamic mix of scientists, researchers, business managers, and other accomplished professionals.
How does Conflux work
Conflux streamlines the transfer of assets by ensuring swift, efficient transactions free from network congestion. Its scalability ensures minimal transaction costs. This is achieved through its utilization of the Tree-Graph consensus mechanism, which ingeniously blends the strengths of both Proof of Work (PoW) and Proof of Stake (PoS) consensus models. The protocol further employs Turing-complete smart contracts coded in Ethereum's programming language, Solidity, making it compatible with the Ethereum Virtual Machine (EVM) and widening its applicability.
Conflux’s native token: CFX
Conflux's native cryptocurrency is CFX, which powers the platform and incentivizes users. Launched on October 28, 2020, CFX has an infinite max supply, with a total supply of 5.27 billion.
CFX use cases
The CFX token has diverse utility. It serves as a means to pay transaction fees and as a store of value. Additionally, it offers users opportunities to earn rewards via staking and various miner incentives. Token holders also gain the ability to actively engage in the project's governance through the voting process.
CFX distribution
Conflux Token distributed its supply as follows:
- 40 percent: Set aside for the project’s ecological fund
- 36 percent: Kept by the core team and seed investors
- 16 percent: Allocated to private investors and reserves
- 8 percent: Community fund
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