Ethereum

Core

Hybrid

Conflux

<h2 id="key-points">Key Points</h2>
<ul>
 <li>The Chinese Government is working with Conflux Network to launch a new public blockchain infrastructure platform.</li>
 <li>The platform is called “Ultra-Large Scale Blockchain Infrastructure Platform for the Belt and Road Initiative,” and its main target is to provide an underlying public blockchain for cross-border applications.</li>
</ul>
<p><a href="https://twitter.com/Conflux_Network" rel="noopener noreferrer nofollow" target="_blank">Conflux Network</a> has just released its announcement on X social media platform, highlighting the main focus of the project.</p>
<p>The new platform aims to create a public blockchain infrastructure platform that will be able to support implementing cross-border cooperation projects along the Belt and Road Initiative:</p>
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
 <p lang="en" dir="ltr">The main focus of the project is to create a public blockchain infrastructure platform. This platform will be able to support the implementation of cross-border cooperation projects along the Belt and Road Initiative. It will provide the base for developing applications that… <a href="https://t.co/MkWgRY2G8A" rel="noopener noreferrer nofollow" target="_blank">https://t.co/MkWgRY2G8A</a></p>
 <p>— Conflux Network Official (@Conflux_Network) <a href="https://twitter.com/Conflux_Network/status/1774761161575268415?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">April 1, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>This is another move that shows the fact that Conflux Network is building towards mass adoption of digital economies and the overall transformation of cross-border partnerships.</p>
<h2 id="conflux-network-s-top-features">Conflux Network’s top features</h2>
<p data-sourcepos="1:1-1:131">Conflux Network (CFX) is a public blockchain designed for high performance and scalability. Here are its most important features:</p>
<h3 id="layer-1-blockchain">Layer 1 blockchain</h3>
<p>Conflux is a foundational blockchain, not built on top of another existing network.</p>
<h3 id="scalability-focus">Scalability focus</h3>
<p>Unlike some blockchains that struggle with transaction volume, Conflux prioritizes handling a high number of transactions per second (TPS) without compromising security or decentralization. It achieves this through a unique consensus mechanism.</p>
<h3 id="tree-graph-consensus">Tree-graph consensus</h3>
<p>Conflux uses a Tree-Graph structure instead of the linear chain found in many blockchains. This allows for parallel processing of transactions, significantly boosting throughput.</p>
<h3 id="hybrid-proof-of-work-stake">Hybrid Proof-of-Work/Stake</h3>
<p>Conflux combines Proof-of-Work (PoW) and Proof-of-Stake (PoS) mechanisms to achieve both security and efficiency. PoW is used for block creation, while PoS is used for transaction validation and finality.</p>
<h3 id="dual-space-design">Dual space design</h3>
<p>The Conflux network consists of two parts: Conflux Core Space and Conflux eSpace. Core Space offers high security and a contract sponsorship mechanism, lowering barriers to entry.</p>
<p>eSpace is compatible with the Ethereum Virtual Machine (EVM), enabling developers to migrate existing Ethereum smart contracts easily.</p>
<h3 data-sourcepos="9:1-9:24" id="potential-use-cases">Potential use cases</h3>
<p data-sourcepos="11:1-11:85">Conflux’s focus on scalability makes it suitable for various applications, including Decentralized finance (DeFi), Non-fungible tokens (NFTs), Web 3.0 infrastructure, and E-commerce.</p>
<h2 data-sourcepos="18:1-18:21" id="the-china-connection-and-why-it-matters">The China connection and why it matters</h2>
<p data-sourcepos="20:1-20:145">Developed in<a href="https://crypto.ro/en/news/wechat-supports-chinas-digital-yuan-boosting-cbdc-adoption/" rel="noopener noreferrer nofollow"> China</a>, Conflux is sometimes referred to as the “Chinese Ethereum” due to its potential for regulatory compliance within the country.</p>
<p data-sourcepos="22:1-22:167">Overall, Conflux Network is a promising player in the blockchain landscape, offering a high-performance and secure platform for various decentralized applications.</p>
<p data-sourcepos="22:1-22:167">The latest Chinese Government blockchain initiative comes despite mainland <a href="https://www.bloomberg.com/news/articles/2021-07-25/early-crypto-mogul-says-china-crackdown-may-lead-to-outright-ban" rel="noopener noreferrer nofollow" target="_blank">China’s hostile attitude towards crypto</a>, and this is an important move for the industry.</p>

Chinese Government Launches Public Blockchain Platform Led By Conflux Network

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