Conflux Network Weekly Update | April 23 - 29
A technical deep dive into the underlying infrastructure of Conflux Network; New unlocking schedule implemented for private investors; ShuttleFlow, the bridge to connect blockchains
Latest From Conflux
DAO Update: New Unlocking Schedule Implemented for Private Investors
The result of the DAO vote on ‘Adjustment to Unlocking Conditions for Private Investors’ resulted in 96.50% of voters agreeing that the Foundation should not grant any investor request for unlocking their tokens ahead of schedule. Additionally, the voters advised that the investor lock-up period be extended.
The Foundation has since re-negotiated the lock-up period with investors.
A technical deep dive into the underlying infrastructure of Conflux Network
Conflux was born in the research lab of Turing Award recipient Dr. Andrew Yao and is based on a novel Tree-Graph consensus mechanism that optimizes security, scalability, and decentralization. The Tree-Graph architecture allows parallel processing of blocks and transactions, while eventually forming a final serial chain. This feature contrasts other well-known networks like Bitcoin and Ethereum, which process blocks strictly one-by-one, and is what gives Conflux its speed and scalability.
ShuttleFlow: Enabling the future of DeFi through true multi-chain connection
ShuttleFlow’s multi-chain capabilities are two-fold. First, it provides dApp developers with solutions to integrate multi-chain asset deposits and withdrawals at a low cost. At the same time, ShuttleFlow uses the Conflux Network as a “transit chain” to build asset bridges and other, related infrastructure across DeFi blockchains. As such, ShuttleFlow is slated to solve a host of liquidity-related issues in the DeFi space: to increase operability between blockchains, and as a result, to support the growth of the DeFi ecosystem as a whole.
Community & Events
📣 Conflux + Decentology Mini NFT Hackathon - Submission Deadline is May 2
Conflux has teamed up with Decentology to host a Mini NFT Hackathon, a friendly competition to help developers get started building NFT applications on Conflux. The hackathon will run from April 9 through May 2. Complete hackathon details can be found here!
💡 Tips Use DappStarter’s NFT Composer to easily build NFT apps with custom generation mechanisms, metadata, minting triggers, and more.
🗓 Deadline: May 2nd @ 11:59pm 👉 Project Submission Form
🔗 Hackathon Details: http://bit.ly/2PRDP2T
🎥 NFT Composer Workshop: http://bit.ly/32XHrDq
💰 2000 CFX in prizes, opportunity to apply for a Conflux Ecosystem Grant, and Conflux swag!
Community Ambassadors Program
If you are an active blockchain community member and love Conflux Network, we encourage you to sign up for our Community Ambassadors Program! We welcome all applicants regardless of your location! You will be responsible for organizing local meetups and sharing the word about Conflux in your community.
Industry News
EIP-1559 is actually increasing gas fees
Gas in Ethereum is fuel for transactions and protection against spam attacks. The recent Berlin hard fork changed the gas costs of some EVM operations, which seriously affected the cost of functions using them. Optional access lists added in Berlin hard fork are not a gas costs reduction tool and, if misused, will actually increase fees. Source
Mastercard looking to smart contracts to tap into CBDCs
Mastercard is continuing to help banks around the world develop central bank digital currencies. They are now exploring smart contract technology, the company’s CEO has said. Source
An overview of DeFi price oracles
There are several advantages and disadvantages to using off-chain or on-chain oracles. The main issue with on-chain oracles is their susceptibility to manipulation. DeFi has several examples of exploits where on-chain oracles were combined with flash loans to exploit protocols. Source
On the modularization of decentralized governance
Decision-making in crypto protocols has primarily been done via democratic token voting. Voter apathy and a large concentration of tokens lead to a handful (or even a single) voters being able to push decisions through unilaterally. Source