This week’s Wealth Mastery Altcoin Review will look at the Conflux Network and discuss its role as a new divergent blockchain. The blockchain space has made significant innovations in the last decade. A closer look at Conflux Network shows that it’s one of those projects striving to create a better way of transferring and storing information. Conflux wants to eliminate all barriers to entry by developing a permissionless layer 1 network that provides strong economic incentives without wasting any resources. As a Proof of Stake/Work hybrid, Conflux is built to never worry about low transaction throughput or stalled network progression. But, is Conflux really up to the task?
Unlike most networks that run single chain threads to confirm transactions. Conflux deploys a new scalable approach with parallel processing. Instead of everyone trying to pile their transactions into one block. A data stream is created from multiple transactions running simultaneously on the network. Known as the Tree Graph, this technology allows for near-instant transactions, increased data efficiency, and makes the possibility of any standard attacks like double-spends and front-running, impossible to achieve.
Conflux also wants to solve the problems associated with unpaid smart contracts. In other smart contract environments, the creator generally pays a one-time fee to create the contract. Afterward, the cost associated with maintenance falls on the user. In Conflux, every contract has an ongoing cost. This way contracts that provide economic value to the network are maintained, while all the flash-in-the-pan memes and prospective dead coins eventually reach a point where they're not draining resources from the network. This take on maximizing network resources is a new and interesting concept.