Little Ethereum Rival Goes Bonkers, Leaves Bitcoin and ETH in the Dust with a Mind-Blowing 53% Surge in Just Seven Days
Little Ethereum Competitor CFX Goes Nuts, Leaves Bitcoin and ETH in the Dust with a Mind-Blowing 53% Increase in Seven Days
Conflux Network (CFX), a type of digital currency similar to Ethereum, is rapidly gaining popularity and its value is increasing faster than Bitcoin and Ethereum. As of now, the value of CFX is $0.295 which is 53% higher than its value from the past seven days. This is in comparison to Bitcoin which has only increased by 16% and Ethereum by 9% in the same time period.
The Conflux Network was launched in November 2020 and it became popular when it announced its partnership with China Telecom, a leading wireless carrier in China. It has also been integrated into Xiaohongshu, which is a popular Chinese social media and e-commerce platform with over 200 million monthly active users.
According to Conflux, it is the only fully regulated layer-1 blockchain in China and it aims to create a blockchain-based economy that is not limited by borders. Conflux uses a proof-of-work consensus model to validate transactions and it is designed to be highly scalable and low cost. The CFX digital currency is used to pay transaction fees, provide staking rewards, and allow users to participate in the network’s governance.
As of the time of writing, CFX is trading at $0.295 and has increased by 6.9% in the past 24 hours. The platform is expanding its reach beyond China and aims to become a global leader in the blockchain industry.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.