Conflux Network is a public blockchain system that can achieve high TPS (Transactions Per Second) without sacrificing decentralization or safety. By uniquely integrating a Tree-Graph consensus mechanism, Conflux removes the concensus performance bottleneck, which solves a key problem of the public blockchain: scalability. The goal of Conflux Network is to promote the adoption of blockchain technology among businesses and to build a robust ecosystem of enterprise-level applications.
The native token of the Conflux Network is CFX. It is used for transaction fees and storage fees on the Conflux network. It also plays a role in the network's governance, allowing token holders to vote on network upgrades and changes. Additionally, CFX is used for staking, where network participants can lock up their tokens to secure the network and earn rewards.
Conflux has achieved relevant miletones in its development and adoption. The Shanghai government invested $5M in Conflux, indicating strong institutional support for the project. Furthermore, Conflux has integrated with China's version of Instagram, which led to a 60% spike in the Conflux token. This integration demonstrates the project's ongoing efforts to expand its reach and influence in the blockchain space.