Conflux Drives DeFi Forward with Multi-Chain Connectivity and Risk Mitigation

SHANGHAI, May 17, 2021 /PRNewswire/ -- As decentralized finance (DeFi) expands at breakneck speed, Conflux, the only state-endorsed public blockchain network in China, is meeting the needs of the evolving space through its unique protocol for decentralized transactions that promotes cross-border, multi-chain collaboration. This focus on multi-chain interoperability, combined with the team's unique international perspective and approach to risk management, positions Conflux to transform the DeFi space.

New ventures are flocking to DeFi as demand for new forms of private, secure investment grows. In April 2020, the total value locked (TVL) in DeFi was $939 million. This number has surged to $64.85 billion in the space of a year — an expansion of more than 6,000% in 12 months. But as DeFi becomes increasingly attractive to people and institutions across the investment landscape, it is also becoming more complex. Developers and investors must have an understanding of relevant local regulations as well as the environment in which that market exists to succeed.

With its deep connections to the Chinese blockchain community and ongoing relationships with government entities, Conflux is particularly suited for developers and teams looking to build compliant DeFi technologies and enter the Chinese market and/or to expand further into Asia­. ­

Multi-chain Connectivity via ShuttleFlow
Conflux has unique technical features that set it apart from other blockchains and DeFi platforms. Among the most revolutionary of these features is ShuttleFlow, a multi-chain asset solution that enables bi-directional interoperability for digital assets between and across Conflux Network, Ethereum, Binance Smart Chain, Huobi ECO Chain, and OKex Chain, with more chains to come in the future. By building these bridges and meshing networks, Conflux smooths and speeds the exchange of digital assets, while also increasing liquidity, since use cases can move beyond the asset's original chain. Cross-chain operability also links together traders and markets that have been isolated in silos into a single, cohesive ecosystem.

Risk Mitigation and Regulatory Standards
There are certain technical and regulatory risks for any DeFi venture. DeFi networks can be subject to errors, bugs, or front-running vulnerabilities exploited by hackers. On the regulatory side, DeFi networks are subject to the governing authorities of the jurisdictions in which they are located. Conflux can help projects mitigate these risks by ensuring a secure network design and maintaining close and constructive relationships with relevant regulatory bodies. Additionally, Conflux uses a unique Proof-Of-Work algorithm and Staking Contract that incentivize miners to keep the network secure.

As Conflux makes the DeFi space more dynamic, not only is it uniquely positioned to access a rapidly expanding Chinese market, but its innovative multi-chain bridging technology and top-notch security are bringing new capabilities to the industry. From expanding global opportunities to revolutionizing traditional financial systems through cross-chain, cross-border, decentralized finance, Conflux is poised to help drive DeFi on a global scale, across protocols and borders.

About Conflux
Conflux is a permissionless Layer 1 public blockchain connecting decentralized economies across borders and protocols. Fast, scalable, and solidity compatible, with zero congestion and low fees, Conflux is transforming how the world transacts and leading the transformation to a sustainable, borderless economy.

As the only regulatory compliant, public, and permissionless blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia. Conflux aims to connect decentralized economies to strengthen the overall DeFi ecosystem globally.

To learn more about Conflux, visit confluxnetwork.org/.

SOURCE Conflux

Related Links

http://www.confluxnetwork.org/

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED