Conflux Network Weekly Update | Oct 23-29
Conflux Mainnet is officially launched; Conflux Ecosystem Grants winners awarded; Open DeFi announces Aave, Balancer, Ocean and more as new members
Powering Decentralized Commerce Through A Scalable Trust Layer for a New World of Dapps, Web 3.0, and Finance
Latest From Our Blog
Conflux Network Phase III — Tethys is officially launched!
After two years of hard work, Conflux Network has finally mined the genesis block of Tethys, the last phase in our mainnet rollout. Thank you to our team, our partners, our family and friends and of course our ever growing global community for your support in the process. We look forward to sharing the future with you.
“Our mainnet launch is the most important milestone for Conflux. In our first two phases, we fine-tuned the performance and the security of the network. Now Conflux is fully decentralized. From now on, all transactions in Tethys will be immutable records on the Conflux blockchain. Future updates to Conflux will be enabled only via hard forks upon the community consensus.” — Fan Long, Founder of Conflux Network
First wave of Conflux Ecosystem Grants winners awarded
Today, we are excited to share the first wave of grants awarded through the Conflux Ecosystem Grants Program! First announced in July, our grants program is focused on building the decentralized future through DApps and infrastructure on our fast, secure, and permissionless next-generation blockchain.
Congratulations to our grantees Bitquery, Decentology, DeepSEA (CertiK), Fullet, Mixpay, Simpli DeFi and Superfluid!
We recently released our latest Progress Report! Here are some highlights from the past few weeks (prior to mainnet launch):
Finished JS-SDK 1.0 development.
Conflux was invited to the annual 2020 “Star Power” Award Ceremony hosted by Boliancaijing and was awarded “The Blockchain Project With the Most Technical Strength”. Additionally, our mascot ConFi was recognized as an influencer and awarded “Blockchain Pioneer of the Year”.
Conflux Oceanus GPU Mining Testing is ongoing. The amount of GPU mining nodes and CPU trustnodes have reached 225 and 637, respectively. The computing power of the whole network participating in the Mining Testing exceeded 41G hash/second.
Conflux Network has officially launched its Turkish community and welcomes new moderators to join the Turkish speaking community.
Community & Events
Announcing Our First Hackathon: Hacking Decentralized Commerce
Over $12K worth of prizes for the winners!
Conflux Network is excited to launch our first virtual hackathon Hacking Decentralized Commerce in collaboration with Gitcoin! Conflux Network is developing the technology to build the future of commerce which is more collaborative, equitable, and decentralized! The hackathon starts right after our mainnet launch to propel the DApp ecosystem. Come build on a faster, safer PoW blockchain network that is Solidity compatible and has new mechanisms like built-in staking and transaction sponsorship!
There are two main tracks to participate in this hackathon. The first track focuses on building new DApps and products for DeFi, NFTs, payments, marketplaces, and core infrastructure. The second track is co-sponsored by our partners Aave and Chainlink for the integration of the Conflux Network with partner technologies.
Our Next Virtual Meetup: NFTs in Gaming and Metaverses
Join us on Thursday, November 5th as we take a look at the future of art and gaming. We will take a deep dive into NFT gaming and metaverses and explore the ways we can tackle current roadblocks as well as capture more users with exciting NFT opportunities such as governance, layer-2 scaling, and virtual reality.
Save your spot to hear from the founders of The Sandbox, the Blockchain Game Alliance, Decentraland, and Somnium Space. As well as, discover what’s next in the growing NFT gaming market.
Conflux 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
East meets West as eight top projects join Open DeFi alliance
The Open DeFi Alliance has announced the launch of a western arm and onboarding of eight new member firms. Launched last month, the alliance seeks to unite leaders of the DeFi sector by forming a global cooperative consortium focused on innovation, risk management and liquidity strategies. New members include decentralized finance notables Aave, Balancer, BlockScience, dYdX, Ocean Protocol, Outlier Ventures, Quantstamp, and SuperRare, with the organization now spanning 16 firms in total. It now includes four of the 20-largest DeFi protocols by locked capital.
Source
India issues their first license for banking with crypto
An Indian banking services provider is now set to allow customers to transact with cryptocurrencies at 22 physical branches. The service will be provided by the United Multistate Credit Cooperative Society in partnership with the crypto banking platform Cashaa. It means that, for the first time, customers can physically access cryptocurrencies, or take out a loan against their holdings. Source
Singapore’s largest bank set to release public crypto exchange
According to a DBS web page, DBS Digital Exchange will offer access to "an integrated ecosystem of solutions to tap the vast potential of private markets and digital currencies." On offer for trading against the Singapore dollar, the Hong Kong dollar, Japanese yen, and U.S. dollar will be four top cryptocurrencies: Bitcoin, Bitcoin Cash, Ether and XRP. Source
How do DeFi protocols create and capture value?
In Q3 2020 it paid to be risky in crypto. Longer-term questions of sustainability and competitive advantage didn’t seem to make a difference when DeFi asset prices across the board were skyrocketing. However, now that the market has cooled down, level heads may prevail as investors now position for the next stage of DeFi. Source
Blockchain tech in the gaming industry
While the blockchain and crypto industry participants never stop developing and exploring new possible applications specifically with financial applications, major global industries are now turning for answers in this unique technology when it comes to innovations in their field, specifically gaming. Source