Connect with us

Sponsored Posts

Conflux Network Launches Mainnet

Published

on

Conflux

After two years of hard work, the Conflux Network will be officially launched. Here, we provide a detailed overview of our path to mainnet.

Unlike most of the peers, Conflux designed a three-phase launch plan to roll out the functionalities and the features step-by-step. The reasons for such a design are two-fold.

Firstly, to guarantee the network stability in the early stage and to shake out all the bugs of major functionalities, e.g. in the Conflux cross-chain protocol. Secondly, Conflux targets to bring applications and meaningful transactions onto the network along with each of the three phases, so that by Phase III, there will be an established Conflux ecosystem, instead of an empty network.

Conflux believes such a three-phase design is a healthier approach for the network as well as for the whole industry in the long run.

Phase I — Pontus

In Phase Pontus, the Conflux Decentralized Finance (DeFi) Solution will be launched.

Conflux Network

Conflux Network, a high-performance PoW public protocol, is by nature one of the most suitable ground layer solutions for the DeFi ecosystem.

In order to push the development of our DeFi ecosystem, our technical team has developed a cross-chain protocol — ShuttleFlow. The cross-chain protocol provides the user with a secure, efficient and convenient way to bridge their assets across various chains.

In the beginning, Conflux and our ecosystem partners will form a cross-chain custodian alliance to securely map various mainstream assets like BTC, ETH, or USDT onto the Conflux chain by using multi-signature technology. The Conflux Foundation will reward the assets brought onto the Conflux Network and at the same time, compensate users in case they lose their assets due to technical problems or bugs in the cross-chain protocol.

In the early stages of the Shuttleflow cross-chain protocol, we’ll be inviting members of the cross-chain custodian alliance by invitation. It will also include current Conflux ecosystem partners, a well-known cryptocurrency wallet, custodian service, and stable-coin providers.

The list of the alliance members and multi-signature custodian contracts will be public and for everyone to monitor at all times. As the cross-chain alliance will grow and evolve, it will gradually move towards an autonomous operation and provide more services to the users.

Besides Shuttleflow, Conflux community developers (shoutout to Justin and Sophia) and the Conflux team have jointly created the decentralized transaction protocol — BoomFlow.

BoomFlow features instant exchange contracts and a high-frequency matching engine to ensure smooth and highly efficient operations and services based on decentralized exchanges (DEX) built on the Conflux Network.

Operators and service providers can connect with the BoomFlow protocol in a permissionless manner, and use an API interface to customize their own cost parameters, develop a personalized and user-friendly interface, and adopt a unique user operation strategy.

In Pontus, along with the DeFi solution, we’ll also be launching the first Decentralized Exchange DApp — MoonDex.

MoonDex is developed and presented by the Cross-chain Alliance member, DAppBirds.

The MoonDex project was kicked off several months ago and the development and operation are all on track. Together with the DAppBirds team, we are building a Decentralized Exchange with the same level of user experience as a centralized exchange.

MoonDex will be unfolded in mid-April.

Conflux Fans Coin will be used as an exchange medium in the MoonDex during the Phase Pontus. All the Conflux community members and FC holders are encouraged to experience the MoonDex platform.

During the phase Pontus, Conflux Foundation will make sure that the users will not suffer asset loss caused by technological issues. If the network misbehaves or experiences other technical issues that perhaps result in asset loss, Conflux Foundation will compensate for the value of difference.

In essence: A decentralized exchange in the Conflux network provides liquidity for the underlying assets of the blockchain and utilizes the high performance of the Conflux network to provide traffic for the application layer from the very beginning.

Phase II — Oceanus

In Phase Oceanus, we’ll be focusing on mining and the PoW algorithm.

In the first half of this phase, we will organize several mining campaigns, from mid-scale (hundreds of participants) to large-scale (thousands of participants), to further verify the stability of the network.

Up to this point, the mining algorithm we use will still be SHA256. Although the coins mined from this period of time are not official CFX, Conflux Foundation has allocated a generous budget for these campaigns to encourage more participants to contribute to the network computing power and security.

In the second half of the phase, once we are sure of network security, network stability, and sufficient network contributors, we will migrate to the official Conflux PoW mining algorithm.

In pace with the raising of computing power and network security, we expect to see more mainstream assets, like BTC and ETH, to be accumulated on-chain from MoonDex and from the Conflux ShuttleFlow. The Conflux ShuttleFlow itself will kick off the integration with the Bitpie wallet as the first Instant Exchange wallet on Conflux.

During Phase Oceanus, we will be focusing on an all-around pilot run around the mining algorithm, DApps, Dex, and other DeFi products with our ecosystem partners. The network features and functions will be gradually released to the community in order to increase the level of decentralization while maintaining high-levels of system security and performance throughout the network. This will ensure that the team’s focus and attention will not be affected too much by the secondary market fluctuation.

For the Phase Oceanus, we call out for all Conflux community members to participate in our mining activities, as well as, our existing and potential ecosystem partners, especially DeFi teams, to join us to start the product design and development.

Phase III — Tethys

This will be the final and fully functional Mainnet of the Conflux Network.

The swap between FC and CFX will officially start. Conflux ShuttleFlow will open up to applications from this point onwards. The Conflux Foundation will also have an Ecosystem Development Plan in place to facilitate an extensive ecosystem.

There are currently 11 alliance members. In the beginning period, The Conflux Foundation will decide on the selection of the alliance members. Once the alliance is stable, Conflux Foundation will gradually fade out from an acting role and leave the alliance in the form of DAO.

Summary

The whole design of the launch plan took months of deliberation. The Conflux team and many peers within the industry have witnessed many renowned projects launching their mainnet with a big gesture and even bigger expectations, but with barely any real movement or progress after that.

We always appraise and pursue high performance of blockchain systems. The blockchain world has witnessed many projects claiming to achieve hundreds or even thousands of TPS but only utilizing a fraction of the claim when the mainnet actually launches (several thousand transactions per day, not per second).

Conflux’s major breakthrough is high performance under PoW. We have more reasons, as we endeavor further, to avoid such a situation for the Conflux Network mainnet launch.

Conflux’s efforts revolve around pushing the industry one step further. Built on that, the three-phase launch plan can and will assist Conflux to have a network with meaningful transactions, necessary applications, sufficient contributors, and a primarily established ecosystem by Phase III — Tethys.

In the course of this journey, the Conflux team welcomes and encourages all of our community members, ecosystem partners, and other interested parties to join us.

In Phase I — Pontus, community members, and other FC holders are welcomed to experience a new, enhanced Dex platform. In Phase II — Oceanus, we encourage the Conflux community and other mining communities to participate in our assorted mining activities. In addition, the technology integration with our existing partners, oracle solution, layer-2 solution, and other undergoing DApps, will take place in this stage. Developers and miners are highly encouraged to follow the latest updates of Conflux and to reach out for more information. Once we are at Phase III — Tethys, Conflux will present not just a mainnet, but a formed ecosystem.

Disclaimer: This is a paid sponsored post. Readers should do their own due diligence before taking any actions related to any company, product or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this sponsored post. 

Sponsored Posts

Conflux Launches Conflux Africa Leadership Scheme (CAL)

Published

on

Conflux Africa Leadership Scheme

Conflux is a state-of-the-art public blockchain system that can achieve high Transactions per Second (TPS) without compromising decentralization. This system originated from the research lab of Dr. Andrew Yao; a recipient of the Turing Award 2000.

The Conflux system adopts the Tree-Graph consensus mechanism to break the limitation of the current blockchain system by achieving over 3500 TPS in contrast to the existing 30 TPS rate limit. With the Tree-Graph approach, security, scalability, and decentralization are fully optimized.

ConfluxIn 2018, the Conflux Foundation was formed based on the breakthrough of this consensus mechanism, and a regulatory compliant fundraise was completed to build an open infrastructure. It is the only state-endorsed public, permissionless blockchain in China.

Through the Tree-Graph Research Institute, Conflux is advancing education and research in blockchain development. It does this in partnership with the government of Shanghai and the Key Laboratory of Blockchain Infrastructure & Applications, with the government of Hunan.

Conflux aims at bridging Asian and Western communities and economies, to enable the secure flow of assets and data across borders, protocols & applications. The Conflux protocol is fast, scalable, solidity compatible with zero congestions and low fees.

With its headquarters in Beijing China, Conflux has expanded its global operations with a diverse distributed team across four continents, with additional offices in Toronto, Canada, and Lagos, Nigeria.

In 2019, Conflux Network set base in Africa and has since been able to secure some reputable partnerships, building a community of over 5000 people in Nigeria and a few other African countries.

Taking a step further, Conflux Network is looking at getting African leaders in Kenya, Ghana, and South Africa. In achieving this goal, Conflux Africa is interested in people with little knowledge in the following areas: Brand Ambassadors, Developers, Crypto traders, experienced meetup organizers, and community builders.

Conflux Africa Leaders (CAL) would be entrusted with the responsibilities of engaging, educating, and empowering people. Conflux will also bear the cost incurred by each CAL while performing their tasks.

Conflux Africa Leaders will be rewarded for their work based on performance. In addition, a clear job description and key performance indicators will be set for all CAL’s. They will be rewarded with the Conflux native token which is currently trading on top exchanges like Binance, OKEx, CITEX, BitAsset, BKEX, MXC, and Gate.io.

Conflux is open to teaching young developers who intend to learn how to develop blockchain solutions in the upcoming summer User-Managed Access (UMA) initiative.

Click here to become a Conflux Africa Lead today.

Disclaimer: This is a sponsored post. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

Continue Reading

Sponsored Posts

Bitzlato & Lemonade Finance: The Easiest Way to Buy Bitcoin in Nigeria

Published

on

easiest way to buy bitcoin in nigeria

Buy Bitcoin With Ease and Without Fees Using Bitzlato & Lemonade Finance

Bitzlato, the latest P2P Crypto Exchange to enter the African market, has added Lemonade.Finance, a borderless platform for Africa, as a payment method to its platform.

BitzlatoLemonade Finance provides a 100% digital payment experience for Africans to participate in the global economy from anywhere in the world without any hassle or regardless of where they are from.

The partnership will enable users on the Bitzlato (BZ) platform to buy and sell bitcoin and other cryptocurrencies on the marketplace at zero cost.

During the first month, Bitzlato will refund commissions in manual mode while using Lemonade Finance, but this will be automated at the end of this period. 

But that’s not all! Users in Nigeria will now also be able to send Nigerian Naira (NGN) to MPESA at a 0% transaction fee.

International Money Transfers at Zero Costs

In addition to using Lemonade Finance on Bitzlato, the new partnership allows Nigerians to send fiat funds to Kenya, Ghana, and other countries with 0% transaction fees!

And Yes! This includes direct transactions from Lemonade to Mpesa!

You can find a «Lemonade to Mpesa» payment method in Electronic Payment for trades with Kenyan shilling (KES)! 

 

Speaking about the new partnership, Ridwan Olarere, CEO, Lemonade Finance, said:

“We are excited to partner with such an innovative company like Bitzlato to connect more Africans through payment. Many Africans living on the continent face many difficulties when making payments as remittance companies charge high fees and are time-consuming. We are now providing our users with a cost-effective way of sending money to Ghana, Kenya, the UK, and Europe.”

Commenting on the opportunities this provides to crypto traders on the BZ platform, Mike Lunov, CEO, BZ, said:

“This partnership will provide a much-needed gateway that enables the markets we serve to seamlessly interact with each other in a borderless and open environment. We seek to break the barriers that presently exist for cross-border transfers and enable our users to generate value through the opportunities that accrue from cryptocurrency trading. The innovation exhibited by the Lemonade platform, and the brilliance of its team assures users of top-notch, secure, and reliable transfers going forward.”

Following this partnership, Bitzlato is now looking to partner with merchants in the crypto space, especially in Nigeria, Ghana, South Africa that have a steady flow of Nigerian Naira (NGN) to increase liquidity on the platform.

Take advantage of the new Lemonade Finance payment method on Bitzlato, which offers zero transactional fees for money transfers from Nigeria into Kenya, sign up to Bitzlato and start trading crypto today.

Disclaimer: This is a sponsored post. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

Continue Reading

Sponsored Posts

Mark Carnegie’s Crypto Fund Eyes Massive Returns

Published

on

Bitcoin chart

Mark Carnegie, the world-renowned Venture Capital Investor and entrepreneur hailing from Australia, plans to launch an unlisted cryptocurrency fund. Mr. Carnegie’s MHC Fund will use a bold combination of complex DeFi (Decentralised Finance) and Crypto-Trading strategies to generate a 30 per cent annual return for investors.

Mark CarnegieFrom his holiday home in Madagascar, Mr. Carnegie, expressing his views with his characteristic wit and energy, repeated prior ideas that investors should allocate 1 to 2 per cent of their net worth to crypto as a hedge against inflation risks:

“The money printing is a risk and you’ve got to think what you’re going to do to protect yourself against it. Now, with Australia the general solution is buy a house. The problem about that is you forgo a tonne of liquidity if that’s your only solution,” he said.  

Mr. Carnegie, who regrets not recognizing the potential of DeFi and crypto earlier in his career, has joined forces with Russian-born Sergei Sergienko – a star in crypto, blockchain, and fintech circles – to launch the MHC Digital Asset Fund, which is designed for sophisticated investors, with a minimum investment floor of 50,000$.

The MHC Fund will invest 45 to 75 percent of its assets in cryptocurrencies with a market cap of at least 1 billion USD (1.3 Billion AUD), such as Bitcoin and Ether. In addition, the fund will invest 30 to 60 percent of its assets into stablecoin denominated DeFi strategies.

Mr. Carnegie is energetically moving forward with a prototype fund involving a few private investors who, along with Mr. Sergienko, have put some money down to successfully launch and trade it.

Sergey Sergienko“Sergei’s got a whole lot of what I call proprietary alpha in that he knows a lot more people that are real in this community,” Mr. Carnegie said. “He’s proven and therefore access to his proprietary deal flow allows you, for not a huge amount of capital exposed, to get a disproportionate upside in some of those things. 

“So we think we can put together a portfolio. It’s not going to get all the upside of the crypto market, but it’s going to take some sting out of the downside.” 

One characteristic DeFi strategy the fund will take advantage of is known as “Staking”. Staking allows market participants to make assets available on a specific blockchain network in exchange for a yield.

“We also think we’re going to be able to make intelligent asymmetric bets in the options market,” said Mr. Carnegie. “We aren’t a typical investor in this space in that we’re prepared to trade away some of the upside [to target the 30 per cent return].”

Crypto-savvy Sergey Sergienko has made quite a name for himself in Russia as a millionaire crypto trader and audacious user of the Clubhouse application. During the last decade, he has spent a fair amount of time travelling between bitcoin mining sites in abandoned Siberian factories – taking advantage of abundant and cheap electricity – and his home in Paddington, Sydney.

“We use automatic market makers and the discrepancies in returns in stable coins to produce a greater return for the fund,” Mr. Sergienko said. 

“Effectively, we’re providing liquidity to automatic market makers on DeFi market protocols and receive commission from the trades executed on those protocols. We do it on different blockchains, thereby also taking advantage of different pricing for commission on different blockchains.” 

The MHC fund is designed to capture the upside from the rise in Bitcoin. However, Mr. Carnegie believes the leading cryptocurrency is less sophisticated compared to the ethereum blockchain’s world-changing potential to contribute to the vision of a more libertarian world enlightened by decentralised finance.

“It’s hard, hard, hard to understand it [DeFi] and turn it into a language for people from the outside,” he said. “The reason I’m doing this rather than HODL, which is buy bitcoin and hold on for dear life, is it’s just for me a weak part of your investment thesis, the strongest is proper DeFi and proper smart contracts.” 

Ethereum, dubbed the World Computer, is an open-source blockchain platform. Value is transferred across this platform thanks to a cryptocurrency called Ether.

Ether is also used to pay for transactions on the network. Ethereum powered smart contracts allow, among other things, the use of digital escrow accounts to ensure tradies receive payment when a job is completed.

“I thought ether was going to outperform bitcoin and everything else. So the bitcoin people have done better than me,” Mr. Carnegie said. “But I thought it was better to try and put together a more complicated portfolio with Sergei because this thing is so dynamic. All the success in DeFi is going to pull bitcoin higher with it.”

Disclaimer: This is a sponsored post. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

Continue Reading

Popular Posts