Conflux Network is a scalable and decentralized blockchain network that aims to have high throughput and fast confirmation. It operates a consensus protocol, GHAST, which processes concurrent blocks without discarding any as forks, and adaptively assigns heterogeneous weights to blocks based on their topologies in the ledger structure (named Tree-Graph).
CFX is the native utility token of the Conflux Network and has the following use cases:
Network Consensus: Miners will receive block rewards for each block that they create, and transaction fees for the code execution.
Ecosystem Incentivization: To incentivize users for meaningful and value-generating economic activity.
Governance: CFX holders can vote on network governance decisions.
Staking: The network will distribute rewards on all staked tokens at a fixed rate of 4%. The rewards will be added to the user’s holdings at the time when the user un-stakes his/her tokens.
Conflux Network organizes the blocks in the ledger as a tree-graph structure which tracks the happens-before relationship among blocks. Based on this ledger, Conflux allows all the nodes in the network to produce a consistent total order of blocks. This total order is derived from a pivot chain in the ledger which is selected by applying the heaviest subtree rule in order to avoid double-spend attacks.
Conflux Network raised 35.68MM USD from three rounds of private token sales:
Private Sale 1: 9.35% of the total token supply was sold at 0.064 USD / CFX.
Private Sale 2: 0.21% of the total token supply was sold at 0.080 USD / CFX.
Private Sale 3: 0.99% of the total token supply was sold at 0.100 USD / CFX.
As at March 29th 2021, the circulating supply of CFX is 695,262,164 and the total supply at genesis is 5,000,000,000.