Conflux surges by 13% after entering into a strategic partnership with a venture firm
Conflux Network’s CFX token experienced a significant increase of over 13% following the announcement of a “strategic partnership” agreement with BlockBooster, an Asia-based venture studio. The collaboration aims to identify opportunities for web3 incubation within the Conflux ecosystem and support major events for Conflux builders. Although specific details about the partnership have not been disclosed, the impact on the CFX token was evident as it surged to $0.24, according to CoinGecko data. BlockBooster expressed its commitment to supporting web3 infrastructure, social initiatives, and gaming projects through this collaboration.
In other news, Conflux Network is preparing to introduce an Ethereum Virtual Machine (EVM)-compatible layer-2 solution that enables interaction with the Bitcoin network. This initiative comes in response to the growing interest in bridging the gap between the two blockchain networks. Conflux’s proposed layer-2 solution will allow users to transfer Bitcoin and other inscription-powered assets between its blockchain and the Bitcoin ecosystem. The new layer-2 network will operate on top of the main Conflux chain, utilizing BTC for gas fees and supporting Ethereum-based smart contracts through the EVM standard.
Established in 2018, Conflux Network positions itself as a blockchain platform that complies with regulations in China, making it the country’s only regulatory-compliant public blockchain. Often referred to as the “Chinese Ethereum,” Conflux Network aims to provide a scalable and decentralized infrastructure for various applications.
Check out more: DWF Labs strengthens its investment in Conflux with $28 million.
Follow us on Google News.
