The CFX token refers to a cryptocurrency known as Conflux.
Basic information about CFX:
Item Details
Full Name Conflux Network
Symbol CFX
Network Type Layer 1 Blockchain
Country of Origin China
Objective To provide a high-performance blockchain that supports decentralized applications (dApps) and transactions quickly and efficiently
Mechanism Based on a consensus algorithm called Tree-Graph, which is a combination of PoW (Proof of Work) and performance optimization features
Key Features of Conflux (CFX):
Very low transaction fees.
Supports smart contracts and Web3 applications.
Developed with the support of the Chinese government, it is considered one of the few projects that have been officially approved there.
Integrates with Chinese projects that comply with the "blockchain without coins" policy but CFX is used internally.
Uses of CFX Token:
Payment of transaction fees on the Conflux network.
Rewards for miners or validators.
Uses in DeFi and NFT applications on the network.
