Conflux Network Adds PoS Consensus and Deploys Ethereum-native Development Space

TORONTO, March 9, 2022 /PRNewswire/ -- Conflux, the only regulatory compliant public blockchain network in China, today announced the addition of a Proof of Stake (PoS) Finality Chain that expands on the network's existing Proof of Work (PoW) chain. Conflux is also launching eSpace, an EVM-compatible smart contract execution environment that allows developers to deploy and execute Ethereum-native dApps and smart contracts within the Conflux ecosystem.

The two major features are being released as part of the network's Hydra hard fork, a long-awaited update to Conflux. Both upgrades aim to bring more flexibility to developers building on Conflux while also enhancing security against potential attacks

PoS Finality Chain

Conflux's new PoS Finality Chain will work alongside the main PoW chain. PoS validators will be able to vote on confirmed pivot blocks. Once a pivot block is voted, all PoW nodes are forced to follow pivot blocks that are voted by the PoS Finality Chain and the transaction is considered irreversible. The PoW chain will still be used to maintain the record of all transactions realized in the Conflux network.

The Finality Chain will also significantly increase the security of the network and protect it against 51% attacks, which have been successfully carried out against other PoW networks.

The move to  add PoS functionality to the network comes as Conflux gears up to expand its ecosystem to attract a wide range of new projects and dApps that can benefit from the hybrid approach. By layering the best of both PoW and PoS, Conflux is enhancing its utility and security for the next wave of Web3 innovation.

EVM-compatible eSpace

Conflux smart contracts executed in the Conflux Virtual Machine (CVM) are EVM-based but include added features and expanded data structures that diverge from the original EVM specification. To make it even easier for Ethereum developers to build on Conflux, eSpace introduces a fully-compatible EVM smart contract execution environment.

eSpace allows developers to easily deploy and execute EVM-compatible smart contracts without any additional work. A dedicated environment within Conflux, eSpace enables developers to use existing tools from the Ethereum ecosystem, such as libraries (eg: web3.js, ether.js, etc.), wallets (eg: MetaMask, hardware wallets, etc.), and other developer tools (eg: Remix, Hardhat, etc.).

As more Web3 projects adopt a multi-chain approach, Conflux's eSpace offers a frictionless way for Ethereum developers to explore and tap into the Conflux community without any technical barriers.  

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