Conflux Network Partners with BlockBooster
Conflux Network’s CFX token saw a 13% surge following a strategic partnership agreement with Asia-based venture studio BlockBooster. The collaboration aims to identify web3 incubation opportunities within the Conflux ecosystem and support major events for Conflux builders.
CFX Token Gains Momentum
The news of the partnership had a significant impact on the CFX token, which surged to $0.24, representing a 13% increase. CoinGecko data confirms this rise in value.
BlockBooster’s Focus
BlockBooster expressed its intention to support web3 infrastructure, social initiatives, and gaming projects through its partnership with Conflux.
Introducing an Ethereum Virtual Machine-Compatible Layer-2 Solution
In response to growing interest, Conflux Network is preparing to launch an Ethereum Virtual Machine (EVM)-compatible layer-2 solution that can interact with the Bitcoin network. This solution will enable users to transfer Bitcoin and other inscription-powered assets between Conflux’s blockchain and the Bitcoin ecosystem.
The Benefits of the New Layer-2 Network
The layer-2 network will operate on top of the main Conflux chain, utilizing BTC for gas fees. It will also support Ethereum-based smart contracts through the EVM standard.
About Conflux Network
Established in 2018, Conflux Network positions itself as a regulatory-compliant public blockchain in China. Often referred to as the “Chinese Ethereum,” it offers a scalable and decentralized infrastructure for various applications.
Hot Take: Conflux Network’s Partnership Boosts CFX Token Value
The strategic partnership between Conflux Network and BlockBooster has resulted in a significant surge in the value of the CFX token. This collaboration aims to support web3 incubation opportunities and major events for Conflux builders. Additionally, Conflux Network is preparing to launch an Ethereum Virtual Machine-compatible layer-2 solution that will facilitate interactions with the Bitcoin network. This innovative solution allows for the seamless transfer of Bitcoin and other inscription-powered assets between Conflux’s blockchain and the Bitcoin ecosystem. With its focus on scalability and decentralization, Conflux Network continues to position itself as a leading blockchain platform in China.
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