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The only regulatory-compliant blockchain in China, Conflux (CFX) is a proof of work (PoW) and proof of stake (PoS) hybrid permissionless blockchain. 

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China has taken a hard stance against cryptocurrencies up until recently. The country had been repeatedly and publicly banning crypto mining and transactions 

, citing the environmental impact of crypto mining and the use of cryptocurrencies for illegal purposes, such as money laundering. 

However, China is now shifting its stance. Hong Kong has announced its 

 that may legalize the retail trading of cryptocurrencies in June 2023, and China is closely studying its approach as it prepares to launch its own stablecoin. Notably, Conflux is China’s only regulatory-compliant public blockchain at this time. Hence, as China embraces crypto, CFX is on track to explode in 2023.

. It was initially a PoW blockchain, recently completing an upgrade that added a PoS component. CFX token holders can now earn rewards by staking their tokens to the PoS system. 

Another improvement, the fully EVM-compatible 

, was launched together with the PoS chain as the 

 improves the Conflux blockchain technology by protecting against security attacks and giving developers greater project flexibility. 

Although both fiat-to-crypto trading and 

 (ICOs) are prohibited in China, crypto-to-crypto trading is permitted. Hence, Conflux can remain compliant with China’s regulations allowing new crypto projects to enter the local market. 

Conflux is a Layer 1 public blockchain technology that also offers some benefits of a private blockchain through its hybrid format. It stands apart from Bitcoin and Ethereum with its 

 structure. This divergent structure allows the Conflux network to process multiple blocks simultaneously. This parallel processing makes its throughput dramatically higher than that of blockchains with a linear structure (such as 

The Conflux blockchain’s Tree-Graph structure combines with a consensus mechanism known as Greedy Heaviest Adaptive Sub-Tree (

) to manage the execution order of transactions with scalability in mind. GHAST also adds security, with its ability to detect and prevent some chain attacks.

In addition to its Tree-Graph structure, there are several key aspects of the Conflux blockchain that make it stand out. For example, it supports Turing complete 

 to help developers create new projects on the blockchain. Conflux is also 

 is Conflux's cross-chain solution that supports the use of Bitcoin and Ethereum assets. It also allows users to add any new 

In addition, the Conflux blockchain technology has a robust 

, or software development kit, to help developers in project creation. It specifically supports the four mainstream programming languages; Python, Java, JavaScript and Golang. It also offers community-developed SDKs and Solidity SDKs. The network's DApp development tools include Truffle, Hardhat, ChainIDE and Studio. 

Transactions on the Conflux network require using a wallet such as the 

. The user is responsible for gas and storage fees when sending a transaction (the gas fee is calculated by multiplying the gas price by the gas used). When a new transaction is executed, it uses storage space for a period of time. The storage fee is the amount of CFX staked by the user to pay for the storage space. However, the staked tokens are returned to the user as the space is released. 

With the Conflux coin, CFX, users pay gas fees and cover storage expenses. CFX also supports the network's maintenance through staking and mining rewards. Miners earn a bonus payout, which consists of 2 CFX for one block, a block transaction fee and a 4% annualized return on all stored collateral. In addition to earning a reward, users who stake their CFX tokens have voting rights for the network’s governance. 

CFX token holders can choose to store their CFX and other CFX assets, such as CRC-20 tokens and 

, in a more secure hardware wallet, such as Ledger Nano S or Nano X. To use one of these hardware wallets, you’ll need to have a Fluent Wallet on your desktop.

The Conflux Network's token, CFX, has surged from $0.03 in late January 2023 to $0.30 in late February, showing a 900% increase in one month. This price surge is due to the partnership of Conflux with China's social media platform, "The Little Red Book," to 

As of Mar 24, 2023, CFX's price is $0.348, down 9.7% from its 24-hour high. Its all-time low price of $0.02 was on Dec 30, 2022. CFX’s all-time high was $1.70 on Mar 27, 2021.

Many experts anticipate phenomenal growth for the CFX token. 

, CFX’s price may continue to soar over the next several years, projecting it to hit $1.45 in 2025, which would reflect a 215% increase in roughly two years. By 2030, it predicts the price of CFX to reach $4.18. Meanwhile, 

 a price of $0.69 at the end of 2025, which they believe will continue to rise to $4.68 by the end of 2030. 

While the price predictions for CFX indicate the potential for growth, it’s crucial to understand the key factors that will likely contribute to this growth in value going forward. The Shanghai government 

 in Conflux in January 2021 and used the blockchain to test a yuan stablecoin

 in 2021 to support eight emerging DeFi projects that are interested in entering China's markets. This is accomplished by creating Conflux-wrapped assets, which will wrap the eight DeFi tokens to enable swapping between Conflux and OKExChain.

, the country's second-largest wireless provider, to develop blockchain-based SIM cards (BSIM). Some of the features of these BSIM cards are faster and more secure transactions, and secure storage of digital private keys and assets. 

While these developments may be indicative of Conflux’s high growth potential, they should not be seen as investment advice. Always remember to do your own research before investing in any cryptocurrency, as their prices tend to be volatile.

You can purchase CFX tokens on the world's top crypto exchanges, including Bybit. Before you can buy these tokens on Bybit, you must have a 

 with a funded wallet. After opening an account, ensure that your wallet has the appropriate amount of USDT to complete the transaction. Bybit's intuitive trading terminal supports fast and easy 

As China moves closer to loosening its cryptocurrency restrictions, interest in Conflux continues to grow. The Shanghai-backed Conflux blockchain is also positioned to develop BSIM cards for China Telecom, the country's second-largest wireless provider. With these factors in mind, Conflux will likely play a vital role in China's crypto space. As China’s economy continues to flourish, Conflux will thrive as that country’s first regulatory-compliant public permissionless blockchain.

Conflux Network (CFX): The China-Endorsed Public Blockchain

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