Conflux, a first-layer consensus blockchain, touts itself as the only “regulatory compliant, public, and permissionless blockchain in China.” The project’s CFX token was the best-performing token for the week ending Feb. 20.
What Happened: CFX’s 286% gains outshone the appreciation seen in Bitcoin BTC/USD and Ethereum ETH/USD.
| Cryptocurrency | Gains (+/-) | Price (12p.m. EST) |
|---|---|---|
| Conflux (CFX) | +286.4% | $0.21 |
| Stacks (STX) | +138.2% | $0.73 |
| Filecoin (FIL) | +75.7% | $8.65 |
| Klaytn(KLAY) | +45.2% | $0.30 |
| Neo (NEO) | +38.3% | $11.71 |
Last week, Conflux’s official Twitter account announced that China Telecom — the 2nd largest wireless carrier on the mainland — has partnered with the project to develop Blockchain-enabled SIM Cards, which it calls BSIM.
See Also: How To Trade Cryptocurrency: A Beginners Guide
Why It Matters: Separately, Conflux said that the research and development phase for the BSIM card is complete and it is connected to the project’s main network for testing.
The project also generated buzz around the burning of tokens, Conflux said they’ve already burned close to 500 Million CFX and their latest DAO proposal regarding token burning will take place in the coming week.
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