Conflux Network Weekly Update | Jan 8-14
Conflux awarded $5M research grant from Shanghai Government; NFT Name Service launches; Conflux's 2020 Year-in-Review; expansion into LATAM
Latest From Conflux Network
Conflux Receives $5M Grant From Shanghai Government
We are happy to share that we have recently received a $5 million research grant from the Shanghai Science and Technology Committee and Xuhui District government, which is part of the city’s municipal government. The funding will be used to develop our public chain research and it will also support an aerospace supply chain proposed to be built on Conflux Network.
“While the amount of money granted is important, it is the government’s signal to support a public permissionless chain like Conflux that matters the most for us,” Conflux Founder Fan Long told CoinDesk.
Conflux NFT Name Service Launches
We are happy to announce that Conflux Name Service (.cfx) is officially live! Different from traditional domain names, Conflux Name Service is built by using blockchain technology. Developed by the TrustDomains team, .cfx domains are completely decentralized and never expires. Once registered, the domain name will always belong to the end-user. These domains can use human-readable names to replace the cryptocurrency addresses, content hashes, and much more.
Highlights
Published Economic White Paper
Launched Mainnet
Conflux Ecosystem Grant Program launched and received 128 project applications.
The Open DeFi Alliance was established, which was initiated by Conflux, Sequoia Capital, Blockpower Capital, dForce, DeBank, MCDEX and MoonSwap.
Community & Events
Synopsis 2021
Join our DeFi analyst Sami on February 20th at Synopsis 2021 where we will give an overview of Conflux Network and our plans for the upcoming year!
The summit will last two days. More than 40 leading industry experts from around the world will speak at the conference. Synopsis 2021 brings everyone together in the digital space and offers a complete immersion in the world of decentralized finance and the crypto economy.
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.
📣 We are hiring! 📣
As we head into 2021, we are looking to grow our team. We are currently looking to hire a Research Engineer / Developer Advocate to lead developer initiatives in Latin America. Please send your resumes to: careers@conflux-chain.org
Industry News
US Banks get the green light to issue stablecoins
The Office of the Comptroller of the Currency (OCC) has issued an interpretive letter allowing federally chartered banks to use stablecoins, or cryptocurrencies with relatively stable prices, for standard banking transactions like payment activities. The letter further states that banks can participate in validating stablecoin transactions or Independent Node Verification Networks (INVN) in a blockchain. Source
How to improve the DeFi development experience
Looking from the perspective of developers, DeFi still has a long way to go before it is an optimal alternative to developing in the FinTech space. Between oracle risks, governance, and gas fees, here are some proposals for improving DeFi development in 2021. Source
Self-hosted wallets are at risk in 2021
A recent FinCEN proposal would require exchanges to store the name and address information for customers transferring over $3,000 in crypto per day to private crypto wallets. Source
Digital Yuan is coming to crypto-style wallets
China’s forthcoming central bank digital currency will be compatible with a hardware wallet that may eventually look like a credit card, but operate behind the scenes like your Conflux Portal web-wallet. Source
A deep dive into algorithmic stablecoins
Algorithmic stablecoins have become the biggest DeFi trend of 2021 so far, they use algorithms to balance the circulating supply of the asset. A recent report shows the market trends of algorithmic stablecoins and what lies in the future for the new asset type. Source