Coin columns · Mainnet Province
Conflux (CFX): A Standalone Layer 1 Built on Tree-Graph Consensus
Two execution spaces and a close tie to China’s market
Conflux is a public layer-1 blockchain from a Beijing-based team that keeps blocks produced in parallel and orders them with its ‘Tree-Graph’ structure. CFX is the base coin used for its fees, staking and governance.
1. What it is and who built it
Conflux is a public layer-1 network, an independent base blockchain that anyone can join. It was co-founded by Fan Long, a University of Toronto professor, and Ming Wu, its chief technology officer. The company was founded in 2018 and reported to be registered in Singapore, with its team in Beijing. It is said never to have held an ICO (public coin sale).
CFX has no fixed maximum supply; its genesis allocation was 5 billion. On the Crypto Nation map, CFX is the city-hall tower of Mainnet Province, the area for standalone layer-1 chains, because it is the chain’s own base coin. Mining rewards and fees are paid in CFX.
2. Tree-Graph consensus and two spaces
Most blockchains keep only one of several blocks produced at once and discard the rest. Conflux’s Tree-Graph keeps the concurrent blocks and orders them into one history with a rule called GHAST, aiming to raise throughput. It is described as mixing proof-of-work (mining produces blocks) with proof-of-stake (a staked committee votes to finalize checkpoints).
Execution is split into two spaces. Core Space is Conflux’s native environment, with storage collateral (CFX locked while data is stored) and sponsored transactions, where an app pays users’ fees. eSpace is Ethereum-compatible, so MetaMask-style wallets and Solidity contracts work as they are. Moving between the two is not seamless, and liquidity can split.
3. Uses and milestones
CFX pays transaction fees, backs storage in Core Space, and is used for staking (locking coins to help secure the network), mining rewards and governance votes. The project says it burned CFX in 2025, but whether burns offset new issuance needs checking.
Conflux completed the last phase of its mainnet, Tethys, in late October 2020. On 16 May 2023 it unveiled a blockchain SIM card with China Telecom, to be piloted first in Hong Kong. Conflux 3.0 activated in September 2025, targeting up to 15,000 transactions per second, and hard fork 3.1 in August 2026 added Ethereum Osaka compatibility and passkey-style accounts. It now promotes stablecoin liquidity such as USDT0 and AxCNH, an offshore renminbi product.
4. Things to know
CFX has no supply cap and new coins keep coming from mining and staking rewards, so it is worth checking whether burns keep pace. Combining proof-of-work, proof-of-stake, Tree-Graph and two spaces is complex, which adds implementation and upgrade risk, and concentration among miners and large holders affects security.
Being described as close to China’s market is not a government guarantee, and mainland China bans crypto trading, so rule changes matter. Partnerships should be checked against real users and fees, and the throughput figure is a target, not sustained performance. Bridges and stablecoin issuers carry their own risks, and many articles on the project are promotional.
Written from information public up to October 2026. It does not recommend or rate any coin and is not investment advice. If something is wrong, please tell us through the contact page.