Key Points:
The CFX token has become the most profitable crypto asset of the week from CoinMarketCap’s top 100 after its price increased by more than 150% during this period. Currently, the token is trading at $0.45, up 12.97% in the last 24h.
The Conflux Network project aims to optimize blocks at the same time or meet the processing capacity of each node up to 3,500 TPS. Moreover, Conflux’s technology can confirm a block in 23 seconds, reducing transaction fees compared to PoW or PoS projects.
Conflux is a public blockchain platform, possessing the highest TPS (transactions per second) while ensuring the system’s decentralization and the network’s safety. This project is the result of a combination of a unique and advanced algorithm with a novel and innovative structure, the Tree Graph (TG).
The project emerged after integrating with China’s Instagram partner, Xiaohongshu, earlier this year.
Founded in 2018, Conflux raised $35 million through a private token sale from prominent investors in China, including private equity firm Huobi Group, Sequoia China, Shunwei Capital, and Rong360. Historical data shows that Conflux’s market value is only around $50 million at the beginning of 2023.
It then achieved a series of partnerships with Xiaohongshu, McDonald’s, and China Telecom, and the market capitalization increased by about 2300% year-on-year.
As a result of all these high-profile collaborations and partnerships, CFX has come to be known as China’s MATIC.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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