Conflux Network continues to solidify its position as a leading high-performance, environmentally sustainable blockchain platform. Throughout early 2024, the ecosystem has demonstrated robust technical development, expanding global partnerships, and growing community engagement. From strategic integrations with Bitcoin Layer 2 and zero-knowledge proof hardware to cross-border collaborations and real-world applications, Conflux is paving the way for scalable Web3 adoption.
This comprehensive report captures key developments from January to February 2024, highlighting network performance metrics, major technological milestones, international outreach, and ecosystem innovations — all while maintaining a strong focus on security and decentralization.
Network Performance & Consensus Metrics
At the core of Conflux’s reliability lies its dual-proof consensus mechanism: Proof-of-Work (PoW) for decentralized security and Proof-of-Stake (PoS) for scalability and energy efficiency.
Proof-of-Work (PoW) Stability
As of February 2024, the network operates on version V2.3.4, with total computing power stabilizing around 5 terahashes (T) — a significant increase from early January’s 4T. The number of active nodes remains consistent at approximately 745, reflecting a healthy and distributed mining ecosystem. Daily transaction volumes fluctuate between 24K–75K, indicating steady on-chain activity despite market cycles.
Proof-of-Stake (PoS) Growth
The PoS ecosystem has seen notable growth:
- Total staked CFX: Peaked at 424 million in late February.
- Staking nodes: Increased to 320, enhancing network decentralization.
- Annual staking yield: Ranges between 12.6%–13.4%, offering attractive incentives for long-term holders.
- Total rewards distributed: Exceeded 58.9 million CFX, reinforcing participant engagement.
These metrics underscore growing confidence in Conflux’s economic model and long-term viability.
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Major Technological Advancements
Bitcoin Layer 2 Integration: A Game-Changer
One of the most significant announcements in early 2024 was Conflux’s plan to launch a Bitcoin Layer 2 solution compatible with EVM. This innovation will allow BTC to serve as the native gas currency, enabling:
- Seamless bridging of BTC assets into smart contract environments.
- Enhanced security via Bitcoin’s hashing power.
- Integration of PoS consensus with BTC-backed staking mechanisms.
This move positions Conflux at the forefront of Bitcoin ecosystem expansion beyond simple custody — unlocking DeFi, NFTs, and cross-chain interoperability powered by BTC’s unmatched security.
Zero-Knowledge Proof Chip Breakthrough
In a landmark achievement, Accseal, led by Turing Award laureate Professor Yao Qizhi, successfully developed the world’s first zero-knowledge proof System-on-Chip (SOC). Conflux has partnered with Accseal to integrate this cutting-edge hardware into its infrastructure, boosting privacy-preserving computation and verification speed across dApps.
This collaboration marks a pivotal step toward scalable, secure, and efficient blockchain systems — combining academic innovation with real-world deployment.
BSIM Mobile Wallet Evolution
The BSIM card, a SIM-based cold wallet developed by Conflux, is now being tested with features including:
- 700GB data + 500 minutes of calling time.
- Secure private key storage via telecom-grade hardware.
- Direct integration with mobile wallets without additional devices.
This innovation bridges traditional telecom infrastructure with Web3 security — making crypto access safer and more accessible globally.
Global Expansion & Strategic Partnerships
Middle East & Africa Outreach
Conflux strengthened its presence in emerging markets:
- Co-hosted the “2023 Annual Partner Summit” in Hong Kong with Xinhuo Technology.
- Delivered BSIM cards and digital currency samples to Ghana’s Finance Minister during a Digital Harbor event — showcasing potential financial inclusion solutions for underbanked regions.
Europe & North America Engagement
- Participated in EthDenver 2024, one of the largest Web3 conferences, under the theme #SUPERMOON #BUIDLHOUSE.
- Hosted AMAs with French and Russian communities via X Spaces and Telegram.
- Partnered with U-Hack Web3, a global university hackathon series involving Harvard and Cambridge, to foster developer talent.
Cross-Chain Infrastructure Growth
Multiple bridges now support asset transfers to and from Conflux:
- Butterswap: Enables BNB and Polygon assets to move to Conflux.
- SWFT Bridge: Restored flash-swap functionality for $CFX.
- Meson Finance: Expanding support to Conflux’s Bitcoin L2 solution.
Additionally, NOWNodes and MapProtocol have integrated Conflux into their blockchain-as-a-service offerings, increasing developer accessibility.
Ecosystem Development & Community Momentum
CFXs Rune Upgrade & Market Launch
The CFXs rune standard — inspired by Bitcoin ordinals — underwent a major upgrade on January 19, 2024:
- Full frontend launch for minting, transferring, and trading.
- Whitepaper released: “The Consensus Path of CFXs Rune World V1”.
- Listed on SwappiDEX with dedicated trading pairs.
This initiative taps into the booming inscriptions trend while leveraging Conflux’s high throughput and low fees.
Real-World Applications
- “Kun Zangpin” Digital Collectibles: Launched during the Kunshan New Year Festival via the “Lulu Tong” app — blending local culture with blockchain.
- Maneki-Meow x Uniqlo HK Collaboration: A physical T-shirt collection tied to an NFT IP, demonstrating CC0 licensing in action.
Developer Incentives & Documentation
To encourage open-source contributions:
- Quarterly POAP rewards were distributed to documentation contributors.
- GitHub-based reward claims are now live.
- Surveys like “Conflux Docs Improvement” offer FC tokens for feedback — fostering community-driven development.
Security Incidents & Risk Awareness
Despite strong fundamentals, the ecosystem faced challenges:
Goledo Finance Flash Loan Attack
On January 28, 2024, Goledo Finance suffered a flash loan exploit. The team responded swiftly:
- Identified hacker address.
- Initiated KYC-based freezes with exchanges.
- Rolled back data to pre-attack snapshot (block 88464094).
- Launched compensation program for affected users.
This incident highlights both the risks in DeFi and the importance of rapid incident response protocols.
Phishing & Scam Alerts
Multiple warnings were issued about:
- Fake “Conflux Cloud Miner” projects on BSC promising unrealistic returns.
- Typosquatting domains using uppercase ‘I’ instead of lowercase ‘L’.
- Malicious DDoS attacks on dApp domains like confluxdapp.
Community groups like ABC Pool continue educating users: “Crypto has many paths — but asset security comes first.”
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Frequently Asked Questions (FAQ)
Q: What is Conflux Network’s main technological advantage?
A: Conflux uses a unique Tree-Graph consensus algorithm that enables high throughput (up to 6,000 TPS) without sacrificing decentralization or security — making it ideal for mass adoption.
Q: How does Conflux support Bitcoin beyond simple transfers?
A: Through its upcoming Bitcoin L2 solution, Conflux enables BTC to be used as gas, participate in staking, and interact with EVM-compatible smart contracts — effectively turning BTC into a productive asset.
Q: Is staking CFX safe and profitable?
A: Yes. With over 400 million CFX staked and annual yields around 12.6–13.4%, staking is both secure and rewarding. Rewards are distributed regularly through the PoS protocol.
Q: How can developers build on Conflux?
A: Developers can use standard Ethereum tools (like MetaMask and Truffle) due to EVM compatibility. Testnet support is available via Shui Finance and official documentation portals.
Q: Are there real-world uses of Conflux today?
A: Absolutely. Examples include digital collectibles in China (e.g., Kunshan Festival), telecom-integrated wallets (BSIM), and NFT collaborations with global brands like Uniqlo HK.
Q: What steps has Conflux taken after the Goledo attack?
A: The team rolled back data, identified the attacker, froze funds via exchange cooperation, and began compensating users — setting a benchmark for transparency in post-exploit recovery.
Looking Ahead: The Road to 2025
With its Bitcoin L2 roadmap publicized, hardware-software synergy advancing, and global developer interest rising, Conflux is poised for accelerated growth through 2025. Upcoming priorities include:
- Full rollout of Bitcoin L2 with native BTC gas payments.
- Expansion of RWA (Real World Assets) tokenization in Hong Kong and Southeast Asia.
- Continued investment in zero-knowledge technologies and privacy-preserving dApps.
The convergence of academic research, enterprise partnerships, and grassroots community efforts makes Conflux one of the most compelling ecosystems in the current Web3 landscape.
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