$CFX $CFX

The CFX token is the native cryptocurrency of the Conflux network, a public layer 1 blockchain designed to be scalable, secure, and decentralized. Conflux uses a hybrid consensus mechanism based on a tree graph, which allows for parallel transaction processing to improve speed and reduce costs.

The CFX token has several key functions in its ecosystem: it is used to pay transaction fees, participate in network governance through voting, stake to help secure the network and receive rewards, and engage in activities within the Conflux ecosystem, such as interacting with decentralized applications (dApps). Additionally, the protocol employs token burn mechanisms to control inflation.