Conflux Network Price in India (CFX)

Conflux is a spectacular blockchain platform designed to counter the issues faced by blockchain, also known as the blockchain trilemma. It uses a unique consensus mechanism called the Tree-Graph algorithm, which enables high transaction speeds and scalability without compromising security. The network is powered by its native token CFX which plays a vital role in the network’s ecosystem.

Conflux (CFX) was founded by Dr. Andrew Yao in 2018 in his research lab at Tsinghua University. 

• Tree-Graph consensus mechanism: The network uses the Tree-Graph, a consensus mechanism that optimizes security and scalability, ensuring high throughput and efficiency without compromising on decentralization.

• CFX token: CFX token plays an important role in maintaining the Conflux ecosystem with utilities like gas for transaction fees transaction, incentivizing network participants, rewarding stakers, and governance.

• Interoperability: Conflux supports cross-chain interoperability with ShuttleFlow, a cross-chain asset bridge built on Conflux that enables seamless communication between different blockchain networks.

• High transaction speed: The network offers high transaction speed, supporting up to 3,000 transactions per second (TPS) at a low cost. Conflux offers minimal transaction fees, ensuring cost-effective operations for users and developers.

CFX has shown strong potential since its initial days and has positioned itself as a top crypto. The Conflux network caters to traders interested in projects with unique technological features and strong use cases. The token has a total supply of CFX is 5.07B tokens and holds an all-time high of $1.70 recorded on March 27, 2021. As of November 2024, CFX ranks #111 in the overall market with a market cap of $706.23M. The token is estimated to be worth $1.73 by 2030, making it a promising crypto.

To invest in CFX, download the CoinSwitch app.

• CFX can be bought and sold from a crypto exchange like CoinSwitch to leverage the price fluctuations.

• The token is used to incentivize users for their contribution to the network upkeep.

• The Conflux network also rewards stakers with a fixed rate of 4%.

• CFX token holders hold voting rights and can participate in the network governance.

• Conflux is one of the few blockchain projects officially approved for development in China.

• Conflux offers low transaction fees, making it suitable for traders of all levels.

• The platform fosters a strong ecosystem supporting DeFi, NFTs, and enterprise blockchain solutions.

• CFX is subject to market volatility which may impact its price.

• Conflux’s competitors include other high-performance blockchain networks such as Solana, Avalanche, and Polygon.

• The project has yet to hit the mainstream and faces challenges in attracting developers and users.

• To trade Conflux (CFX) on CoinSwitch, download the app. 

• Users can start trading in CFX with just ₹100.

• CoinSwitch offers a secure and friendly environment for trading in cryptos like CFX.

Conflux (CFX) Initial Coin Offering (ICO) was held in October 2018, when CFX tokens were sold for $0.10 per token, raising about $35 million. The project received significant support from private investors, including Sequoia China, DWF Labs, HTX Ventures, and other prominent venture capital firms. Of the 5.07B total supply of CFX tokens, 40% is reserved for the ecosystem fund, 36% for the genesis team, 12% for private equity investors, 8% for the community fund, and 4% for foundation holdings.