Exploring Conflux’s Ecosystem
Conflux Overview
Conflux is a hybrid first-layer consensus blockchain that combines proof-of-work (PoW) and proof-of-stake (PoS) to provide fast, decentralized support for dApps. The Conflux ecosystem revolves around the $CFX token, which enables users to pay transaction fees, earn rewards through staking, rent storage, and participate in network governance. CFX also rewards miners who help maintain the security of the network.
Conflux has a virtual machine that is similar to the Ethereum Virtual Machine (EVM), but there are some notable differences between the two. Conflux uses a different transaction format and address generation rules, which can make it difficult to port EVM-compatible dApps to Conflux. The introduction of CIP-90, however, introduces a fully EVM-compatible space called Conflux eSpace, allowing existing Ethereum ecosystem tools like MetaMask, Truffle, and Remix to be used directly on Conflux.
Accounts on Conflux Core and Conflux eSpace are separate, meaning that transactions can only be sent between accounts within the same space. However, the new CrossSpaceCall internal contract allows for the transfer of assets and data between the two spaces. Unlike cross-chain operations, cross-space operations are atomic and have layer-1 security.
Conflux supports a wide range of Web3 applications, from gaming and non-fungible tokens (NFTs) to decentralized finance (DeFi). It also provides the infrastructure tooling needed to build, configure, and deploy decentralized applications on the chain. In short, Conflux offers a comprehensive ecosystem for Web3 developers and users.
Wallets
The main wallet used on Conflux is Fluent Wallet which allows one to interact with both Conflux Core and Conflux eSpace, including testnets. Adding to this, Conflux eSpace is supported by Metamask, which also enables widely used wallets such as Ledger to securely connect and interact. Some other Wallets that support Conflux are TokenPocket, BitKeep and AnyWeb which also enables widely used wallets such as Ledger and Onekey.
Community & DAO Tools
A number of high-quality tools to enable the management of users and DAOs assets such as CFX Faucet, Approval Checker, MultiSig and Stampers. These tools are designed to provide efficient and secure management of users and assets within decentralized autonomous organizations (DAOs). CFX Faucet is a tool that allows users to easily get CFX tokens for transacting with the network, while Approval Checker allows users to quickly check and revoke Tokens Approvals. MultiSig and Stampers are tools that provide additional security for DAO assets, allowing multiple users to sign off on transactions before they are executed. Together, these tools provide a powerful and flexible suite of tools for managing users and assets within DAOs.
Dapps
The Ecosystem page on the Conflux Network official website provides a comprehensive overview of the various projects and dApps built on the Conflux blockchain. Additionally, users can use ConfluxDapp to access a more detailed and user-friendly overview of the dApps on the network. Users have a variety of options for accessing information about the projects and dApps built on Conflux, and can choose the option that best suits their needs and preferences.
PoS Pools
Staking pools are groups of Conflux users who combine their resources to validate blocks on a blockchain network. This is done through the use of a proof-of-stake (PoS) protocol, where users stake their CFX to help validate transactions and secure the network. By participating in a staking pool, users can earn rewards for their contribution to the network, which can provide a return on their investment in the form of CFX. Use the PoS Validators List to access the full list of validators, but to mention the most popular ones, we have the following: PHX Pool, Consensus Pool, ABC Pool and HydraSF Pool.
Bridges
The main bridge for bridging between Conflux Core and Conflux eSpace is ConfluxHub. Adding to this, multiple bridges have integrated Conflux, including Multichain, Meson, cBridge, ShuttleFlow, and everPay. Users and projects can leverage these bridges or their APIs to facilitate cross-chain communication or cross-chain DeFi.
DeFi
Conflux is ranked #44 in DeFiLlama by TVL, with over $30M USD, which accounts for 0.01% of the total TVL market share. This organic growth is attributable not only to the trust of existing users and the ability of the ecosystem to attract DeFi capital but also to new players that have come on-chain. The core DeFi protocol on Conflux eSpace is Swappi. Some projects that have generated a lot of traction recently are Nucleon, which offers a Liquid Staking solution, and the Lending/Borrowing Market Goledo.
NFTs
Non-fungible tokens (NFTs) are unique digital assets that are backed by the blockchain and have proven scarcity. This makes them a valuable addition to a wide range of blockchain projects and applications. Marketplaces for buying, selling, and trading NFTs and collections are an essential part of this new economy. They provide users with the ability to access, use, and trade these unique digital assets, which can add new functionality and value to the blockchain world. If you are interested in exploring NFTs, here is a list of all the NFT-related projects on the Conflux Network:
Centralized Exchanges
For some digital currency investors, centralized cryptocurrency exchanges are one of the most important vehicles for transacting. Centralized cryptocurrency exchanges are online platforms used to buy and sell cryptocurrencies. They are the most common means that investors use to buy and sell cryptocurrency holdings and some of the main exchanges that listed Conflux are Binance, MEXC, OKX, and Kucoin.
Infrastructure
Infrastructure tools on Conflux allow DevOps teams to specify the resources they need and configure them when building Web3 dApps. Many of these tools are similar or equivalent to those used on other public blockchain networks, such as Ethereum. Some of the Conflux ecosystem infrastructure resources are Unifra, ConfluxScan, and ConfluxHub.
IDEs and Development Tools
Conflux Core supports a variety of integrated development environments including Conflux Truffle, ChainIDE, Conflux Studio, Official SDKs, Conflux Hardhat, and Sign-In w/ Conflux which are all intended to simplify and speed up the development on Conflux. For more detailed information on how to develop on Conflux and about the existing tools, there is the Developer Portal, in which most of the documentation can be found. On the other side, for developing on Conflux eSpace, as it is fully EVM compatible, most of the existing tools for development in Ethereum such as Remix, Hardhat, and Truffle can also be used for Conflux eSpace, same as web3 libraries such as ethers.js and web3.js .
Grants & Projects Incubation
Conflux hopes new and existing DeFi projects will follow suit to provide increased DeFi offerings on-chain, healthy competition, and more inter-dApp synergies.
Whatever your Web3 wants or needs are, you can find them on Conflux. Projects keen to explore building on Conflux can follow the instructions here, to apply for a Grant or check the eSpace Incubation Program
