Conflux raised $ 35 million for its new project

This idea emerged to combat the limitations that exist in terms of blockchain technology and the use of blocks

A web portal revealed the new protocol Conflux, which achieved a collection of 35 million dollars that will serve to face the limitations that exist in blockchain technology.

This platform was born to combat the problems in terms of bitcoin protocols, for example, which can only be added one block at a time within the chain; this makes the process very slow for applications.

The Conflux developers claimed to have found the solution to this problem, so they presented a new system that will allow adding blocks simultaneously.

The announcement of this project was made by Andrew Yao, winner of the Turing Award and by Fan Long, a professor at the University of Toronto.

“Contrary to popular belief, true decentralization is not sacrificed to increase throughput, highlighting Conflux as the first example that achieves the best of both worlds. By weaving a Directed Acylic Graph data structure into Conflux’s Proof of Work consensus algorithm, tests in its testnet have achieved a throughput of at least 6,500 transactions per second (TPS), while supporting at least 20 thousand nodes”, said Yao.

On the other hand, Feng assured that “the main idea of ​​Conflux is how to make the whole chain of blocks scalable, we have changed the structure of the blockchain so that it is no longer a chain in the sense that it registers each block according to the which says its main block”.

There is not yet a specific date of official launch, everything points to what could happen next year. As stated by Long, the company has planned to launch its test network by the end of next February, and the main network for the third quarter of 2019.

K. Tovar

Source: Fortune

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