The decentralized finance is one of the most sought-after sectors in the cryptocurrency market. It has also been one of the most well-performing sectors. While Ethereum is considered the pioneer of DeFi and dApps, a lot of other projects have also risen to prominence in the DeFi sector. Today we will be discussing one such project which may be worth watching out for.
What is Conflux?
Conflux is an advanced blockchain designed to offer cross-border and multi-chain transactions. It is mainly centered in the Asian blockchain industry – where it is one of the leading blockchains. The technical infrastructure is moderated to allow a seamless experience for crypto users and decentralized app developers. For this reason, Conflux has also integrated various tools to eliminate the woes of Dapp developers.
Conflux is China’s only regulatory compliant public blockchain. It is considered a third generation blockchain – offering a phenomenal speed of 3,000 transactions per second. It is also the world’s first proven system to offer such speed in the blockchain industry.
Conflux is a decentralized finance ecosystem which plans on eliminating the problems that DeFi platforms and cryptocurrency users, in general, face. The network has a lot to offer but one of the hallmark things can be its status in China. China is known for its stringent rules and regulations especially concerning cryptocurrencies. But interestingly, Conflux is the only state-endorsed blockchain in China. Hence, the network plays an integral role in the Asian blockchain industry and more specifically in China.
Future outlook
The Conflux Network’s research institution, Tree-Graph Institute, has been contributing greatly to developments in the blockchain industry. A new branch was recently announced to be launched in Shanghai Free Trade zone. The research institute, Shanghai ShuTu Research Institute, is positioned to lead the way in exploring cross-border trading with the offshore Renminbi stablecoin. This indicates Conflux can possibly increase its value in the coming days because of its value proposition for China and the Asian market.
At the time of writing, CFX token stands at a price level of $0.48. The price has been moving downhill in the daily timeframe with a decline of 20%. However, the cryptocurrency is regarded to be a good investment in the long-term. According to the estimates of Wallet Investor, the cryptocurrency is expected to be operating at a price level of $0.55 in a year’s time while the 5-year price is expected at $0.84. Digital Coin Price is even more bullish on Conflux. Per their predictions, the cryptocurrency will end the year at a price level of $0.69. The price is expected to continue climbing upwards and reach $1.64 by 2026.
