CFX (Conflux Network）Project Analysis
1. Research Institute Review
Conflux is a potential player at the top of the public chain track, and the Conflux ecosystem has grown gradually over the past few years. conflux is a Layer 1 public chain that is fully compatible with ethereum smart contracts, which means that the code, development skills and development experience accumulated in the ethereum ecosystem can be migrated at near zero cost. conflux has dozens of projects on the chain that are working simultaneously, and some ecological projects have already been implemented. There are dozens of projects on conflux chain, and some ecological projects have already been implemented.
2. Recent breakout point
Chinese government recognized domestic public chain Conflux Network and Chinese telecom giant, cooperate to develop blockchain-enabled SIM card, BSIM card will manage and store user's public and private keys on the card, and carry out digital signature so that the private key does not leave the card. bsim card can carry out encrypted storage, key recovery and other operations, and legalized pilot in Hong Kong.
3. Project Introduction
Conflux Network is a scalable decentralized blockchain network designed for high throughput and fast confirmation. Conflux Network's consensus algorithm is based on a special directed acyclic graph (DAG) structure called a tree graph. Unlike Ether, which only accepts transactions on a single chain into its ledger, the tree graph can merge and process transactions across all concurrent blocks.CFX is Conflux Network's native functional token for network consensus, ecosystem incentives, network governance and collateralization.
4. Token Role
CFX is the lifeblood of the Conflux chain and remains one of its most important elements. First and foremost, CFX is used as a utility and governance token. In order to gain voting rights for Conflux community governance, CFX coin holders need to pledge tokens. By pledging, users can also receive passive rewards. Community governance involves submitting proposals to change or add features to the network. The more CFX held, the more voting weight is given.
5. Token Economy Model
5-1. The total supply on the CFX network is actually around 5 billion. It is locked in when the main network goes live, and then gradually released on a monthly basis. 500 million has been destroyed so far.
5-2. The first token is reserved for private equity investors. As much as 600 million CFX has been allocated to its private investors. In the last investment round, CFX tokens were sold at $0.1 per CFX. The following tokens belong to the Conflux Foundation.
5-3, 200 million CFX plus the unsold CFX from the previous category will be allocated to support the long-term financial needs of the Conflux Foundation. These tokens will be unlocked once a month for 2 years.
5-4. Founding Team receives 1.8 billion CFX. The Founding Team tokens will be unlocked over 4 years.
5-5, Community Fund: 400 million CFX dedicated to marketing and community building. These tokens will be unlocked in 4 years.
5-6, Ecosystem Fund: The $2 billion CFX in the Genesis Issue will be an ecosystem fund to address startup issues and invest in promising dApp projects running on the Conflux network. These tokens will be unlocked in 4 years.
6. Project Highlights
China has been critical of most of the blockchain industry in the past, but CFX is the first government-sanctioned domestic public chain. China Telecom and cfx are working together on Conflux's partnership to develop a blockchain-enabled SIM card - BSIM, starting with a pilot in Hong Kong.
7. Investment Institutions
Sequoia Capital
8、Community
Twitter:77,000 people, telegraph 15,000.
9.Future Outlook
Conflux is the only regulatory compliant, public and license-free blockchain in China that creates the first digital RMB, providing the government of the People's Republic of China with the opportunity to test the digital RMB. There are reports published by People's Daily about elevating the Conflux tree diagram public chain to the status of a national strategic reserve, and at this stage Layer 2 has become one of the clear directions with development trends in the crypto community and is on the eve of an explosion, as a Layer 1 public chain, with the cooperation of China Telecom and cfx to develop blockchain-enabled SIM cards , Web 3.0 products will be the world The largest blockchain hard product ever, involving most users and applications. However, the token economy model is too large to create 5 billion and has no cap on the total volume, with a huge team and private placement unlocking 100 million every month (until 2025 when 5 billion is unlocked), with the value coming from capturing transaction fees and the platform's token destruction mechanism, with the remaining value depending on the subsequent development of the project.
Basic Information
Project Description: Conflux is self-defined as an "accessible blockchain" with increased transaction throughput due to shorter confirmation times and faster overall transactions. It is capable of processing 3,000-6,000 transactions per second while maintaining a high level of security, decentralization, and minimal transaction fees, with a Turing-complete state machine built on a high-throughput consensus protocol.
Full token name: Conflux Network
Token name: Cfx
Project website: https://confluxnetwork.org
Project Documentation.
Block query.
https://bscscan.com/token/0x045c4324039da91c52c55df5d785385aab073dcf
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CoinW Institute
2023/2/16