Getting Started with Conflux Network: The only regulatory compliant blockchain in China

Introduction

Conflux network is a Layer 1 blockchain that connects different decentralized economies across borders and protocols. As the only regulatory-compliant public blockchain in China, it offers a unique advantage for projects looking to build and expand in Asia. Conflux has gained attention for collaborating with well-known brands and government entities, such as Shanghai, China's Instagram, and expanding into Hong Kong's growing blockchain-friendly environment.

Using Tree-Graph technology, Conflux ensures a high level of security and can process around 4,000 transactions per second. Its native crypto currency is Conflux ($CFX). The platform has two spaces, Core Space and eSpace, which cater to different virtual machines and developers' needs.

In this article, we aim to provide a comprehensive overview of the Conflux Network. We will delve into the details of Conflux's two spaces, Core Space and eSpace, explaining how they provide flexibility and compatibility to developers and users alike. Furthermore, we'll guide you through the process of connecting MetaMask to Conflux eSpace and using Celer Bridge for cross-chain transfers, simplifying your experience with the Conflux Network.

This article will then spotlight some of the innovative projects that have found a home within the Conflux ecosystem, ranging from decentralized exchanges like Swappi, lending protocols such as Goledo, to the burgeoning NFT platform Neko. By the end of this article, we hope to provide you with a well-rounded understanding on how to get to the Conflux Network.

If you want to have a thorough understanding of this blockchain first, read this deep dive on the Conflux Network.

Conflux Spaces

The Conflux blockchain has two environments, Core Space and Espace, which allow various virtual machines to run on the network. Having two spaces gives Conflux more compatibility and flexibility for developers and users. The eSpace is a fully EVM-compatible space that follows the same rules as EVM and supports Ethereum RPCs, allowing Ethereum tools to be used directly on Conflux.

The Core Space is the original Conflux space. These two spaces are independent but can achieve atomic-crossing of CFX and data through the CrossSpaceCall internal contract. This contract allows CFX transfers between the two crypto spaces. Having two separate spaces enables smart contracts to be deployed on either space or both, depending on the use case. Additionally, the CrossSpaceCall internal contract allows crossing of CFX and data between the two spaces, ensuring seamless interaction and interoperability.

How to Get started.

Starting with Metamask

MetaMask serves as an efficient user interface to interact with Ethereum-compatible blockchains, such as Conflux eSpace. Firstly, let's focus on connecting MetaMask to Conflux eSpace. This connection can be facilitated via the Chainlist platform. Initiate the process by opening your web browser and navigating to https://chainlist.org. On the site, locate "Conflux eSpace" using the search bar. Under "Conflux eSpace", you will find "Connect Wallet". Selecting this option will send requests to MetaMask. Subsequently, choose "Add to MetaMask" also under "Conflux eSpace". MetaMask will then seek your approval for the addition of a new network and the network switch. Upon clicking "Approve" for both prompts, your MetaMask wallet will establish a connection with Conflux eSpace. The flexibility to switch between networks is provided through MetaMask's network selection dropdown menu.

In addition to the Chainlist process, Conflux eSpace can be added to MetaMask manually. This can be done by choosing "Add Network" or "Custom RPC" in the network selection dropdown menu. To configure the settings for the eSpace mainnet, use the following values:

• Network Name: Conflux eSpace
• New RPC URL: https://evm.confluxrpc.com
• Chain ID: 1030
• Currency Symbol: CFX
• Block Explorer URL: https://evm.confluxscan.net

By following these steps, you should successfully link your MetaMask wallet to Conflux eSpace.

Bridging to Conflux

For users seeking to bridge to Conflux, the most reliable and efficient method involves the utilization of Celer Bridge, a leading cross-chain DEX that extends support for Conflux bridging and transfers. This platform allows users to synchronize their MetaMask Wallets and swiftly transfer tokens, including WETH, USDC, DAI, among others, to Conflux at low costs.

To execute this process, please follow the steps outlined in this guide:

• Begin by navigating to Celer Bridge and proceed with connecting your MetaMask Wallet.
• After successful connection, specify Conflux eSpace Mainnet as your target chain.
• Next, identify the particular token you wish to bridge and indicate the corresponding quantity.
• Review the details of your transaction and confirm the process by clicking 'Transfer'.

You can expect your tokens to be transferred within a span of 10 minutes.

The Conflux ecosystem

The Conflux ecosystem houses a variety of projects. Swappi, the first decentralized exchange to launch on Conflux eSpace, facilitates fully decentralized trading without registration or account creation. Swappi offers three main features: Swap, Stake & Earn, and Win. With the launch of Swappi, Conflux users have a new DEX to swap, stake, and earn yields on their crypto assets.

Moreover, Conflux hosts an NFT project, Neko, Neko is an NFT project on the Conflux Network called Maneki-Meow. It aims to tokenize digital art provenance, intellectual rights, and create a greater collection experience. Furthermore, Goledo is a cross-chain lending and borrowing protocol based on Aave, operating within the Conflux Network ecosystem. Depositors can earn passive income by depositing their digital assets into the algorithmic liquidity market, while borrowers can access both overcollateralized and undercollateralized loans. By leveraging the Conflux Network's high throughput and low fees, Goledo aims to provide a seamless and efficient lending and borrowing experience for users in the DeFi space.

The Conflux Network has proven itself to be a leader in the blockchain sector, driven by its outstanding technical capabilities and strategic collaborations. The wide range of projects it hosts, from Swappi, a decentralized exchange, to Goledo, a lending protocol, and Neko, an NFT platform, are just a few examples demonstrating the network's potential for high-speed transactions, low fees, and strong security. Yet, these projects represent merely the tip of the iceberg. There are many more facets of the Conflux ecosystem waiting to be explored. To learn more about the Conflux Network and its diverse ecosystem, consider reading our comprehensive article, where we dive deep into all that the Conflux ecosystem has to offer, available here.

Final thoughts

The unique selling proposition of Conflux - being the only such public blockchain in China - offers exceptional potential to projects aiming to penetrate and grow within the Asian markets. Furthermore, its partnerships with major brands and government entities reflect Conflux's commitment to revolutionizing not only the digital space but also traditional industries.

Moreover, the ease with which users can connect their wallets to Conflux eSpace, and bridge to Conflux via Celer Bridge, helps lower the entry barriers for users. This convenience will undoubtedly expedite the growth of user bases and, consequently, the value within the network. Conflux's dynamic growth and potential notwithstanding, it's important to note that this ecosystem, like all cryptocurrencies and blockchain technologies, comes with its own set of risks. The current state of the market, a bearish phase, and the ongoing accumulation period, makes the potential for short-term downside a real possibility. Conflux, despite its many strengths and unique features, is not immune to the broader market trends and fluctuations.

In looking at the Conflux ecosystem, one cannot help but get excited from its potential. From decentralized exchanges like Swappi to lending protocols like Goledo, and NFT platforms like Neko, Conflux is setting an impressive standard for blockchain projects, all while maintaining high-speed transactions, low fees, and strong security. However, the current exploration of Conflux only scratches the surface. There is much more to learn, understand, and appreciate about the Conflux network and its potential to reshape our digital future. To learn more about the Conflux Network and its diverse ecosystem, I recommend our in-depth article that dives into every corner of the Conflux ecosystem.