CFXUSD
Conflux Network / United States dollar
crypto Composite

Conflux Network is a smart contract platform that features a Turing-complete state machine built atop a high-throughput consensus protocol. Conflux reaches an agreement on transaction validator based on the total order of blocks organized in a Tree-Graph, a novel consensus mechanism that scaling benefits relative to existing blockchains. It also uses Proof-of-Work (PoW) to supplement its Tree-Graph consensus protocol. Conflux has a native token called CFX that serves as the reward for network miners and as a means for paying transaction fees. Conflux Network combines Proof-of-Work (PoW) with its new block ordering protocol, Tree-Graph. It also incorporates economic mechanisms ranging from transaction sponsorship to token staking. Conflux features the novel Greedy Heaviest Adaptive SubTree (GHAST) protocol for consensus, in which the network optimistically processes blocks without discarding any as forks and assigns weights to each block according to the Tree-Graph ledger structure. Conlfux's combination of Tree-Graph and GHAST protocol has enabled it to achieve over 3000 transactions per second, according to the team. Its goal is to maintain this level of scalability without compromising on decentralization parameters like node count and storage costs. Conflux Network's technical presentation can be found here.