This Chinese Crypto Has Soared 1800%

• Chinese crypto conflux is quickly becoming a new symbol to watch.
• With a growth rate of 1800% YTD, this is what sets Conflux apart.

The digital currency ecosystem is known to have at least one big highflyer token at a time, and while this is often a memecoin, one Chinese crypto, Conflux (CFX), is making waves. Conflux has outperformed both Shiba Inu (SHIB) and Dogecoin (DOGE) this year in terms of price growth, as it has step up by more than 1,810% so far this year, growth that has defied the still-inherent crypto winter.

Currently, the digital currency is changing hands at $0.437, up 13.11% in the last 24 hours and by more than 124% in the trailing 7-day period

While the origin of the Chinese crypto, Conflux is China, there is a great deal of disagreement as to whether the country and its crypto-savvy population are contributing to its growth. This is because China banned crypto-related activities a few years back, and chances are that trading Conflux is somewhat illegal in the country.

With crypto as a boundless innovation, the affiliation of Conflux does not matter, rather investors are fixated on its promises as a blockchain protocol, and as for the prospects it swings, Conflux seems to be breaking a major barrier with some of the real-world use cases it foreshadows.

Conflux Fundamental and Chinese Advantage

Conflux is branded as a first-tier, high-throughput consensus blockchain that uses a unique Tree-Graph consensus algorithm, enabling parallel processing of blocks and transactions for increased throughput and scalability.

According to its design, it has been branded with many names including China’s MATIC based on its features. Although this nomenclature is not out of place, Conflux can be thought of as the Chinese answer to Ethereum, offering a number of developers the opportunity to build a smart contract that can solve real-world problems.

Konflux is already advances on this front with its cooperation with China Telecom, the second largest telecommunications company in the country. Through the partnership, a blockchain-based SIM card was developed for more than 500 million users. While this is not the first of the protocol’s milestones, it provided a deep insight into its capabilities and depth.

In today’s Web3.0 ecosystem, there are many buzzing trends that have attracted users’ interest over the years. Two of the top trends include Metaverse and Artificial Intelligence (AI), but Conflux does not necessarily represent either of these two.

The advantage that Conflux is bottling in is the Chinese market and its surroundings. The country, despite its negative attitude towards digital currencies, has a strong connection to blockchain development. With tens of thousands of blockchain-based startups entering the country, Conflux already has a depth of protection considering the fact that China is promoting homegrown technology.

Should you buy Conflux?

Crypto-News Flash is in the right position to provide educational insight about a crypto project and not financial advice. That said, Conflux has showcased the right innovation to compete with its top rivals. Since its inception, CFX has risen in ranking and is currently the 47th largest digital currency.

While wary of impending reversals that could be steep, Conflux deserved to be placed on the investor’s watchlist at least for the long term.

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