CFX Conflux Rank #147

Conflux (CFX) is the native utility token of the Conflux Network, a permissionless Layer 1 smart contract platform. The network operates on a hybrid Proof of Work and Proof of Stake consensus mechanism, designed to deliver a fast, secure, and scalable environment with low transaction fees and minimal congestion. CFX functions as the network's primary asset and is hard-capped in total supply. It is used to pay transaction and storage fees, secure the network through staking, and participate in on-chain governance votes. Each CFX is divisible into 10^18 Drip. Transactions on the Conflux Network mirror the gas-based model familiar to Ethereum users, with CFX playing a role analogous to ETH for submitting and executing smart contracts. Conflux holds a distinctive position in Asia as a regulatory-compliant public blockchain operating in China. The project has collaborated with government bodies and major brands on blockchain and metaverse initiatives, including the municipal government of Shanghai, McDonald's China, and Oreos. Through its full EVM compatibility, Conflux supports a broad range of decentralized applications and ecosystem integrations.