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The Chinese smart contract platform Conflux is currently experiencing a massive price explosion. CFX is rising more sharply in the weekly trend than any other major cryptocurrency. In the last seven days alone, the coin is up 80 percent and is now trading at $0.17.
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Conflux Price Explosion: this is why CFX is Reporting 80 Percent Profit
Conflux has seen a huge price explosion over the last few days. At the time of going to press, the cryptocurrency is reporting an 80 percent gain in the weekly trend. As a result, CFX is trading at $0.1793.
In the weekly trend, CFX is currently the most profitable of the 100 major cryptocurrencies – and by a huge margin. Tezos (XTZ) is far behind in second place with a 35 percent price gain.
Conflux is a Chinese smart contract platform. The project was launched in 2020 and received the state blessing of the People’s Republic of China, which is a special feature.
At the weekend, the Conflux community hosted a conference at which some technological enhancements to the ecosystem were presented. These are likely to be the main driver for the parabolic price movement.
However, the CFX price explosion is also continuing over a longer period of time. In June, the cryptocurrency experienced its lowest point since late 2022. A regional low of around $0.060 was reached, from which CFX has since risen again. Over the last 30 days, the CFX price has risen by 161 percent.
That’s What Conflux 3.0 Brings from August
Conflux 3.0 is scheduled to be uploaded to the mainnet in August – according to various sources. The developers of the blockchain have not yet issued a public statement confirming the reports of a network upgrade.
An official report was said to have been issued by a government agency in Shanghai, according to various sources. When CoinPro tried to retrieve the article, it was the subject of various media reports, but could not be retrieved.
Conflux 3.0 is expected to bring a significant improvement to the underlying technology. This will give the blockchain the ability to operate block creation not only linearly, but also in parallel. Two blocks could then be created at the same time.
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Conflux wants to significantly increase its possible throughput as a result – to up to 15,000 transactions per second. In addition, artificial intelligence is to be integrated into the network. Users should then be able to use AI that lives on the network – a similar report by Internet Computer triggered enormous euphoria back in June.
The software version 3.0 will also create the ability to represent real-world assets on the Conflux blockchain. Cross-border payments are to be supported on a large scale.
In addition, a stablecoin is to be added that reflects the value of the Chinese fiat currency Yuan.
Some sources report that the Conflux upgrade will officially be called Tree-Graph in August.
