Conflux (CFX)

What Conflux is

Conflux is a public blockchain that orders blocks in a graph rather than a single chain, and CFX is its native asset. CFX pays gas, is staked for proof-of-stake finality, and is locked as collateral for on-chain storage. The network's documentation describes it as using a "Tree-Graph ledger structure" with the "Ghast consensus algorithm," and splits the network into two environments: Conflux Core Space and the EVM-compatible Conflux eSpace (source: Conflux documentation, read September 2026).

The design goal behind the Tree-Graph is that concurrently mined blocks should not be wasted. In a longest-chain network, two blocks found at the same moment mean one is orphaned. Conflux's documentation says the structure lets the network "use a block creation rate as high as 2 blocks per second" by incorporating concurrent blocks into the ledger instead of discarding them.

For where to buy Conflux from your country or state, see the availability tables on this page and the venues listed at Exchanges.

How it works

Each Conflux block carries "a single parent edge" plus "a list of reference edges to previous blocks," per the documentation. The parent edges form a tree; the reference edges turn that tree into a directed acyclic graph. Ordering rules then flatten the graph into one linear sequence of transactions, so applications still see a total order even though block production is parallel.

GHAST is the rule that picks the main chain through that tree. The documentation explains that it evaluates "the mining power working on its subtree, not just on a chain, which in turn makes this selection much more robust" than a longest-chain comparison. A block inherits the weight of everything built beneath it, not just of its own descendants along one path.

proof of work alone does not settle Conflux transactions. A separate proof of stake chain provides finality on top of the Tree-Graph, with its own validator registration, its own reward schedule and its own penalty and slashing rules, all documented as distinct modules.

The two spaces are the other structural feature. Core Space is Conflux's native environment and, per the documentation, "natively integrates a transaction sponsorship mechanism," which lets a contract deployer pay gas on behalf of its users. eSpace is EVM-compatible, so Ethereum contracts and tooling work unchanged. They are separate address and account systems joined by a cross-space call.

Storage on Conflux is collateralized rather than bought outright. Occupying state requires locking CFX, which is returned when the state is released. The documentation notes that when storage collateral is sponsored, "a portion of the sponsored CFX is burned and converted into storage points." A second burn runs through fees: the documentation states that a portion of transaction base fees is burned rather than paid to miners.

Supply and tokenomics

Conflux launched with a genesis allocation and continues to issue on two tracks, one to miners and one to stakers.

The documentation gives a genesis block containing 5 billion pre-mined CFX, allocated as 12% to private equity funders, 4% to foundation holdings plus any unsold tokens, 36% to the genesis team, 8% to a community fund and 40% to an ecosystem fund.

The staking yield is not a flat rate. The documentation gives the formula as APY = x * interestRate, where x is the square root of total circulation divided by total staked. The consequence is that yield falls as more CFX is staked and rises as less is, without anyone voting to change it. The 12.9% figure above is what that formula produced at one dated moment with 342.2 million CFX staked; it is not a standing rate.

Working against issuance are the two burns: the portion of sponsored storage collateral converted into storage points, and the portion of the base fee burned on each transaction. Neither offsets issuance at the levels the documentation describes, but both tie supply reduction to actual network use.

History

Conflux's architecture came out of an explicit academic argument: that a longest-chain rule forces a tradeoff between block rate and security, because a faster chain orphans more blocks and dilutes the work securing the tip. The Tree-Graph is the attempt to break that link by counting the work in concurrent blocks rather than throwing it away, and GHAST is the chain-selection rule that makes the counting robust.

The two-space structure came later and answers a different problem. Core Space carries features Ethereum does not have, most visibly sponsored transactions, but that same difference makes it incompatible with Ethereum tooling. Rather than choose, Conflux runs both: eSpace for portability, Core Space for the native features, joined by a documented cross-space call.

Adding a proof-of-stake finality layer over a proof-of-work chain is the third layer of the same instinct. Mining orders the graph; staking finalizes it. That is why CFX has three distinct jobs, gas, stake and storage collateral, rather than one.

Risks and what to watch

Genesis concentration is worth reading directly from the allocation table. A 36% genesis team share and a 40% ecosystem fund mean a large majority of the initial supply began under a small number of controls, and how that has unwound over time is a question about vesting and distribution rather than about the protocol.

The two-space design introduces a category of user error that single-environment chains do not have. Core Space and eSpace use different address formats and different accounts, and sending an asset to the wrong space is a real way to lose it. Read a receiving address's space before sending.

Mining concentration remains the base security question. The Tree-Graph counts work across subtrees rather than a single chain, but it is still work, and the distribution of hash rate determines who can influence ordering.

Storage collateral is a mechanic newcomers regularly misread. CFX locked as storage collateral is not spendable while the state it backs exists, and a contract that stores a great deal of data locks a correspondingly large amount of CFX.

Frequently asked questions

What is the Tree-Graph?

Conflux's ledger structure. Each block has one parent edge plus reference edges to earlier blocks, forming a directed acyclic graph that is then ordered into a single transaction sequence, so concurrently mined blocks are not discarded.

What is the difference between Core Space and eSpace?

Core Space is Conflux's native environment and supports transaction sponsorship, where a contract pays gas for its users. eSpace is EVM-compatible for Ethereum contracts and tooling. They have separate accounts and are joined by a cross-space call.

How much CFX is issued each year?

The documentation gives about 63 million CFX annually from mining at roughly 1 CFX per block as of July 2024, and about 44 million CFX annually from proof-of-stake rewards as of August 2023.

Is any CFX burned?

Yes. The documentation describes two burns: a portion of sponsored storage collateral is burned and converted into storage points, and a portion of transaction base fees is burned rather than paid to miners.

Where can you buy Conflux?

Availability depends on your country or US state. See where to buy Conflux for the exchanges serving your jurisdiction, and Exchanges to compare fees, kyc requirements and supported payment methods.