Conflux Network’s CFX token experienced a surge of over 13% after announcing a strategic partnership with Asia-based venture studio BlockBooster. The collaboration aims to identify web3 incubation opportunities within the Conflux ecosystem and support major events for Conflux builders. While specific details about the partnership were not disclosed, the positive impact on the CFX token demonstrates the market’s response to the news.
BlockBooster, in commenting on the agreement, expressed its commitment to supporting web3 infrastructure, social initiatives, and gaming projects through the collaboration with Conflux. The blockchain network is also preparing to introduce an Ethereum Virtual Machine (EVM)-compatible layer-2 solution that can interact with the Bitcoin network, attracting growing interest.
Conflux’s upcoming layer-2 solution will enable users to transfer Bitcoin (BTC) and other inscription-powered assets between its blockchain and the Bitcoin ecosystem. Operating on top of the main Conflux chain, the layer-2 network will utilize BTC for gas fees and support Ethereum-based smart contracts using the EVM standard.
Established in 2018, Conflux Network is often referred to as the “Chinese Ethereum” and positions itself as a regulatory-compliant public blockchain in China. The project provides a scalable and decentralized infrastructure for various applications, emphasizing its unique standing in the blockchain space.
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