DWF Labs, the global digital asset market maker and multi-stage Web3 investment firm, has announced a $10M investment in Conflux, a next-generation blockchain platform based in China. This investment follows the recent news that China Telecom, China's second-largest wireless carrier, plans to build "blockchain-enabled SIM" (BSIM) cards on Conflux's hybrid proof-of-work/proof-of-stake (PoW/PoS) blockchain.
"Conflux's Tree-Graph consensus algorithm and the platform's interoperability, scalability, and security features have helped position Conflux as a leading public blockchain platform. We are delighted that DWF Labs, one of the most respected and experienced blockchain investors in the world, has chosen to invest in Conflux. We look forward to working with them and leveraging their expertise to accelerate the adoption and growth of our platform," said Ming Wu, CTO of Conflux.
Andrei Grachev, Managing Partner at DWF Labs, said: "Conflux's recent partnership with China Telecom is a major milestone for the blockchain industry, and we believe that it demonstrates the potential for Conflux's technology to revolutionise how we think about blockchain-enabled products and services. We are excited to see what the future holds for Conflux and to be a part of its growth as it continues to push the boundaries of what is possible in the blockchain space."
Conflux is known for its breakthrough Tree-Graph consensus algorithm that uses parallel processing of blocks and transactions to increase transaction processing speed and improve throughput. Conflux's algorithm lowers confirmation times and increases TPS, making it an ideal solution for applications that require fast, secure transactions. Additionally, Conflux utilises a highly tested PoW consensus to provide increased security and anti-reentrance attack protection at the protocol level.
Conflux's partnership with China Telecom to build a BSIM means that the protocol's Tree-graph, dual PoS and PoW technology will be integrated into the new SIM Cards, "enabling the highest system performance for any blockchain in the world." With this initiative, Conflux is looking forward to lowering the barriers to entry for Web3 and the Metaverse.
With DWF Labs' investment, Conflux is well-positioned to expand its technology and grow its user base, helping to further its mission of bringing the benefits of blockchain to users around the world.
About Conflux - https://confluxnetwork.org/
Conflux is a groundbreaking blockchain platform that is transforming the way creators, communities, and markets interact. Conflux is designed to bridge borders and protocols, enabling seamless connections across different networks. With its high throughput, secure and interoperable technology, Conflux is poised to lead the next generation of decentralized innovation.
About DWF Lab - https://dwf-labs.com/
DWF Labs is the global digital asset market maker and multi-stage Web3 investment firm, supporting portfolio companies from token listing to market making to OTC trading solutions.
With offices in Singapore, Switzerland, the UAE, Hong Kong, South Korea and BVI, DWF Labs is an affiliate of Digital Wave Finance (DWF), which consistently ranks among the top 5 trading entities by volume in the cryptocurrency world through its proprietary technology for high frequency trading.
The source of this content is a press release, and the content of the article does not necessarily represent Wublockchain's point of view.
