Conflux Network (CFX)
Platform
Conflux is a high throughput first layer consensus blockchain for dApps that require speed at scale, without sacrificing decentralization
Dec 12, 2023 00:00:00
Dec 30, 2023 00:00:00
ICO Details
What Is Conflux Network?
What is Conflux? In brief, it is a Proof-of-Work (PoW) blockchain network that allows the parallel processing of blocks and transactions, while eventually forming a final serial chain. This feature contrasts other well-known networks, such as Bitcoin and Ethereum, which process blocks strictly one-by-one.1 The parallel processing creates economic incentives for miners that are notably different from serial chains and in this paper we discuss how the differences improve the security and economic viability against double-spending attacks.
Conflux also seeks to overcome the problem of the unpaid smart-contract space occupation. In Ethereum, when introducing a new contract, a user merely pays at the time of the inclusion of the code in the chain whereas the community as a whole faces the burden of keeping the contract in storage. Conflux introduces ongoing costs of contract maintenance which give users an economic incentive to avoid wasting resources.
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