Conflux Network (CFX): The China-Endorsed Public Blockchain
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Conflux, which claims to be China’s only regulatory-compliant public blockchain, and is dubbed by some as the “Chinese Ethereum,” has recently moved beyond Ethereum to integrate Bitcoin into its ecosystem. Its hybrid consensus mechanism enables it to support Ordinals and inscription protocols recently popularized by Bitcoin. In light of these developments, Conflux has introduced an EVM-compatible Bitcoin Layer 2 (L2) solution, marking a significant step toward seamless asset transfers between Conflux and Bitcoin.
Read on to learn more about Conflux and its latest innovation that’s set to further solidify its position in the blockchain space.
Key Takeaways:
The only regulatory-compliant, public permissionless blockchain in China, Conflux is a proof of work/proof of stake hybrid blockchain.
Conflux has introduced an EVM-compatible Bitcoin Layer 2 (L2) solution to foster greater interoperability in its ecosystem.
Its native token, CFX, is used for transactions and can be earned as a mining or staking reward. Staking CFX also gives users governance rights.CFX can be bought on Bybit as a USDT Perpetual contract.