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China Telecom and Conflux Network to pilot Blockchain enabled SIM card in Hong Kong

Toronto, Canada, 15th February, 2023, Chainwire

Today China Telecom and Conflux Network announce a partnership to bring Blockchain SIM cards (BSIM) to market. The entry-level Web3 product will be the largest blockchain hardware product ever seen globally, involving the most users and applications. China Telecom will launch the first BSIM pilot program in Hong Kong later this year. This will likely be followed by pilots in key mainland China locations such as Shanghai.

BSIM will dramatically lower the barrier to entry to Web3 for China Telecom’s 390+ million mobile phone subscribers, while making transactions faster and more secure. By making telecom users’ personal digital assets more secure, the goal is to make mobile phones more secure.

The BSIM card integrates Conflux’s Tree-graph, dual proof of stake and proof of work technology, enabling the highest system performance for any blockchain in the world. It uses the hardware security advantages of SIM cards to protect users’ private keys, which is a secure and convenient Web3 entry solution.

The BSIM Card is indistinguishable from a traditional SIM in appearance but the storage space is 10-20 times larger than the traditional SIM card, and the computing power is increased by tens of times. Users who switch to a BSIM card will be able to store digital assets safely, transfer their digital assets conveniently, and display their assets in a variety of applications.

The BSIM card will manage and store the user’s public and private keys in the card, and carry out digital signatures in a way that the private key does not exit the card. The BSIM card can also allow encrypted storage, key retrieval and other operations. The built-in Bluetooth module will be responsible for the signature and transfer of assets, to ensure the security of personal digital assets. This reduces the risk of the user being attacked by viruses and other malicious software on the mobile phone.

Users’ identifiers in the traditional world, such as mobile phone numbers, can be tied to their Decentralized Identifiers (DID). This will allow for better integration and interaction between virtual and real-world information. BSIM cards can also be combined with abstract accounts based on smart contracts, enabling blockchain applications to safely and efficiently use users’ crypto and traditional world information. Connecting DID with cell phone numbers may also alleviate some of the regulatory concerns stemming from the anonymity of the blockchain technology.

The initial agreement was signed in 2022 between Conflux Network and China Telecom and this prototype is the culmination of a strategic year-long engagement with the goal to build hardware products at the entrance to the world’s metaverse.

The research and development phase of BSIM card is now complete, and it has successfully connected with Conflux’s main network in the test environment. This prototype has the storage and sending functions of digital assets. Conflux and China Telecom will now focus on enriching the BSIM card’s ecological applications, with emphasis on games, payments and other fields.

Dr. Ming Wu, CTO of Conflux Network said “The BSIM card significantly improves the user experience and lowers the barriers to entry for Web3 and the Metaverse world for users. It is key to allowing Conflux to take its ecosystem to the next level. Collaborating with such a strong partner like China Telecom and initiating it from Hong Kong will allow us to enter the market in the near future, both in China and globally.”

Dr. Liang Wei, Deputy Director of Big Data and Artificial Intelligence Research Institute, China Academy of Telecommunication Research said “Blockchain-based digital identity lies in the core of future Web3.0, while blockchain-based digital assets are an important catalyst for the Metaverse. The BSIM card is positioned as the entrance infrastructure of the Metaverse, which provides differentiated functions such as telecom hardware security, intelligent digital wallet, as well as DID value-added services. Partnership with Conflux will accelerate the process of connecting Web2.0 and Web3.0 users in this most imaginative space.”

About Conflux Network

As the only regulatory-compliant public blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia. In the region, Conflux has collaborated with global brands and government entities on blockchain and metaverse initiatives, including the city of Shanghai, McDonald’s China, and Oreo.

To learn more about Conflux, visit confluxnetwork.org or China Telecom visit http://www.chinatelecom.com.cn/

Dr. Ming Wu, CTO of Conflux Network and Dr. Liang Wei, Deputy Director of Big Data and Artificial Intelligence Research Institute, China Academy of Telecommunication Research are available for interview.

Contact

Melissaconflux@shift6studios.com

Construction Giant XCMG Chooses Conflux for NFTs and Future Global Blockchain Applications

Toronto, Canada, 27th March, 2023, Chainwire

XCMG Construction Machinery Co., Ltd. (000425.SZ), the world’s third largest construction machinery manufacturers, announced a partnership with Conflux, a leading public blockchain network, and Zen Spark Technology Pte Ltd, a Singapore-based blockchain and fintech company. The partnership aims to leverage blockchain and Web3 technologies to explore more international use cases.

The partnership between XCMG, Conflux, and Zen Spark Technology Pte Ltd will leverage the strengths of all three companies to explore new scenarios for the application of blockchain and Web3 technology in the global market. By combining XCMG’s extensive global network with Conflux’s cutting-edge technology and Zen Spark’s fintech expertise, the three companies aim to develop new use cases for blockchain and explore the potential of Web3.

XCMG currently ranks third place in the world’s top 50 construction equipment manufacturers, according to KHL Group’s Yellow Table 2022 ranking. In the first half of 2022, despite obstacles, XCMG expanded to overseas markets and achieved export revenue of RMB 12.488 billion ($1.83 Billion), a year-on-year increase of 157.28%. As a world leader in the construction machinery industry, XCMG’s vision is driven by long-term investment and high-level innovation in research and development into the technology surrounding its equipment.

“We are excited to partner with Conflux and Zen Spark to explore new opportunities in global markets,” said XCMG’s Vice President of Machinery and General Manager of Import and Export Company, Liu Jiansen. The partnership between XCMG, Conflux, and Zen Spark Technology Pte Ltd is a significant milestone in the development of blockchain technology and its application in traditional industries. As the world becomes increasingly interconnected, the ability to leverage blockchain and Web3 technology to drive innovation and explore new business models is more important than ever.

“We are thrilled to partner with XCMG and Zen Spark to explore new opportunities in the global market,” said Fan Long, Founder of Conflux. “With our cutting-edge blockchain technology, and the expertise of Zen Spark in fintech and blockchain, we are well-positioned to create new solutions and explore new use cases for blockchain and Web3 technology. This partnership is a testament to our shared commitment to innovation and our belief in the potential of blockchain to transform traditional industries.”

“Zen Spark is excited to be partnering with XCMG and Conflux on this initiative, and we are confident that our fintech and blockchain expertise will complement the strengths of our partners,” said Grace, CEO of Zen Spark Technology Pte Ltd. “We look forward to exploring new opportunities in the global market and contributing to the development of innovative solutions that benefit businesses and consumers alike.”

At the CONEXPO-CON/AGG trade show in Las Vegas, XCMG announced their entry into Web3 by revealing Bored Ape Yacht Club NFT #3489 (BAYC #3489) as the brand’s Metaverse Ambassador. Additionally, XCMG and Conflux plan to jointly issue their first NFT collection for overseas markets in the near future. As XCMG continues to explore new opportunities in the blockchain and web3 space, the company is excited to leverage its partnership with Conflux and Zen Spark Technology Pte Ltd and their expertise in distributed ledger technology and fintech to bring innovative solutions to the global market.

The partnership between XCMG, Conflux, and Zen Spark Technology Pte Ltd will be closely watched by industry experts and investors, as the three companies explore new opportunities and drive innovation in the global market. With the power of blockchain and Web3 technology, the possibilities are endless, and the future looks bright for XCMG, Conflux, Zen Spark and the global community.

About XCMG

XCMG is the world’s 3rd largest construction machinery company, holding the 65th position in China’s Top 500 Companies, the 44th spot in China’s Top 100 Manufacturing Enterprises, and ranking 2nd among China’s Top 100 Machinery Manufacturers. Throughout its robust and steady growth in the global market, XCMG has systematically established a vast marketing network encompassing over 2,000 service terminals, more than 6,000 technical experts, and in excess of 5,000 marketing and sales service staff. This expansive network spans 183 countries and regions, enabling XCMG to consistently offer its worldwide clientele comprehensive, integrated, highly efficient, and convenient one-stop services, including pre-sales, sales, after-sales, and financing solutions.

About Conflux Network

Conflux is a permissionless Layer 1 blockchain connecting decentralized economies across borders and protocols. Recently migrated to hybrid PoW/PoS consensus, Conflux provides a fast, secure, and scalable blockchain environment with zero congestion, low fees, and improved network security. As the only regulatory-compliant public blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia. In the region, Conflux has collaborated with global brands and government entities on blockchain and metaverse initiatives, including the city of Shanghai, McDonald’s China, and Oreo.

About Zen Spark

Zen Spark Technology Pte Ltd, a Singapore-based blockchain and fintech company, is passionately committed to expanding the real-world applications of blockchain technology on a larger scale. Zen Spark Technology develops groundbreaking solutions that seamlessly integrate blockchain technology into real-world use cases. This includes areas such as supply chain management, digital identity verification, data security, and decentralized finance (DeFi), among others.

Contact

Melissa Tireyconflux@shift6studios.com

Conflux to Deploy Uniswap v3 on Network

Conflux, a regulatory-compliant public blockchain based in China, is seeking to expand its reach and attract new users by deploying Uniswap v3 on its network. Uniswap v3 is a decentralized exchange protocol that allows users to trade digital assets without the need for intermediaries.

The move comes just days after the Uniswap v3 code license expired, enabling developers to fork the protocol and deploy their own decentralized exchange. As per the proposal, the deployment of Uniswap v3 on the Conflux network would provide “access to millions of potential new users, particularly in the Chinese and Asian markets.”

Conflux has experienced a spike in traffic in the first quarter of 2023, and the network has a market capitalization of nearly $1 billion, with $45 million in total value locked on-chain. The blockchain has been gaining popularity in the region due to its regulatory-compliant nature, making it an attractive option for projects looking to expand into the Chinese market.

“Currently, 84% of worldwide blockchain applications are submitted in China. Compared to the UK and the US, 11% and 14%. This shows that China is one of the most mature markets in Web3, and exposure is important for all projects,” said Conflux in the proposal.

Conflux also notes that regulatory crackdowns in the United States and Europe would benefit the growth of the crypto industry in Asian markets. Over 80 crypto companies are planning to establish an office in Hong Kong, providing a crypto bridge to mainland China.

Ambre Soubiran, CEO of institutional crypto market data provider Kaiko, agrees that Hong Kong could become a hub for crypto trading and investments. “The U.S. being more stringent these days than ever on crypto and Hong Kong regulating in a more favorable way is going to clearly shift the center of gravity of crypto assets trading and investments more towards Hong Kong,” he noted in a recent interview.

Aside from potential market reach, incentives offered for projects building on top of Uniswap v3 on the Conflux Network are the creation of liquidity pools for CFX token trading pairs, specifically CFX-USDT, CFX-BTC, and CFX-ETH. These liquidity pools would be worth $2 million and locked for two years. The Conflux Foundation would also provide $1 million in “liquidity incentives.”

Conflux is a layer-1 blockchain operating using a hybrid proof-of-work and proof-of-stake mechanism. In a recent development, the network announced a partnership with China Telecom to develop a blockchain SIM (BSIM) card. The BSIM will offer a secure place to store digital private keys and will be able to call upon the said signature to transfer money to other users. In addition, a “one-click direct check” functionality will allow users to check for transaction information and status progress in real-time.

In summary, Conflux’s decision to deploy Uniswap v3 on its network could provide significant benefits to the blockchain and the wider crypto industry. The move will allow the network to access new markets, particularly in China and Asia, where blockchain applications are increasingly popular. Additionally, the creation of liquidity pools for CFX token trading pairs and the provision of liquidity incentives could attract more projects to build on top of the Conflux Network, increasing its overall value and adoption.

Furthermore, the timing of the deployment is interesting, as it comes just after the expiration of the Uniswap v3 code license, which has allowed developers to fork the protocol and deploy their own decentralized exchanges. By deploying Uniswap v3 on the Conflux Network, the blockchain is positioning itself as a strong contender in the rapidly evolving decentralized exchange space.

Conflux’s decision to partner with China Telecom to develop a blockchain SIM card is also noteworthy. The BSIM card will offer a secure place to store digital private keys, providing users with greater security and peace of mind when transferring funds. Additionally, the “one-click direct check” functionality will allow users to check for transaction information and status progress in real-time, improving the user experience.

The move towards greater regulatory compliance in the crypto industry is also a significant factor in Conflux’s decision to deploy Uniswap v3 on its network. The blockchain’s compliance with regulations in China and its partnership with China Telecom position it as a safe and secure option for users looking to invest in the crypto space. As regulatory crackdowns continue in the United States and Europe, Asian markets could see increased growth in the crypto industry, with Hong Kong emerging as a hub for trading and investments.

In conclusion, Conflux’s decision to deploy Uniswap v3 on its network could have significant implications for the blockchain and the wider crypto industry. By providing access to new markets, creating liquidity pools and offering liquidity incentives, the network is positioning itself as a strong contender in the decentralized exchange space. Additionally, the blockchain’s partnership with China Telecom and its compliance with regulations in China could attract more users looking for secure and compliant options in the crypto space. As the industry continues to evolve, it will be interesting to see how Conflux adapts and grows to meet the changing needs of users and developers.

Conflux to Deploy Uniswap v3 on Its Blockchain

Conflux, a regulatory-compliant public blockchain based in China, is looking to deploy Uniswap v3 on its network. This move is aimed at offering millions of potential new users access to the popular decentralized exchange, especially in China and Asian markets. According to Conflux, the network experienced a surge in traffic in the first quarter of 2023, and the deployment of Uniswap v3 would be an important milestone in the platform’s development.

The deployment of Uniswap v3 on Conflux would also provide incentives for projects building on top of the platform. Specifically, the creation of liquidity pools for CFX token trading pairs, including CFX-USDT, CFX-BTC, and CFX-ETH, with a total worth of $2 million locked for two years. The Conflux Foundation would also provide $1 million in liquidity incentives.

In addition to the potential market reach and incentives, Conflux is partnering with China Telecom to develop a blockchain SIM card. This blockchain SIM (BSIM) will provide a secure place to store digital private keys, and users can call upon the signature to transfer money to other users. The BSIM will also feature a “one-click direct check” function that enables users to check for transaction information and status progress in real-time.

Conflux is confident that the deployment of Uniswap v3 on its network would be a significant step towards expanding the platform’s reach and providing new opportunities for projects building on top of it. Additionally, the move could help to strengthen the Asian crypto market in the face of regulatory crackdowns in the United States and Europe.

According to Conflux, China is one of the most mature markets in Web3, with 84% of worldwide blockchain applications submitted in the country compared to 11% and 14% in the UK and the US, respectively. The blockchain platform believes that exposure to the Chinese market is important for all projects, and regulatory crackdowns in the US and Europe could further bolster the growth of the crypto industry in Asian markets.

Ambre Soubiran, CEO of institutional crypto market data provider Kaiko, shares a similar view, noting that Hong Kong is becoming an increasingly important center for crypto assets trading and investment due to its more favorable regulatory environment. Over 80 crypto companies are reportedly planning to establish an office in Hong Kong, which could provide a crypto bridge to mainland China.

In conclusion, Conflux’s decision to deploy Uniswap v3 on its network could bring about significant benefits for the platform, as well as for the wider Asian crypto market. The move would enable access to millions of potential new users and provide incentives for projects building on top of the platform, while the partnership with China Telecom to develop a blockchain SIM card could offer new opportunities for secure transactions and real-time tracking of transaction information.

Conflux to Bring Uniswap v3 and Curve to China's Public Blockchain

Toronto, Canada, April 14th, 2023, Chainwire

Conflux, the only regulatory-compliant blockchain in China, has proposed deploying Uniswap v3 on its network alongside CNH (offshore Chinese Yuan) stable currency, and joining the Curve Wars with its mainnet token CFX bridged to Ethereum mainnet, known as eCFX. This proposal comes after Binance’s announcement that it will support Conflux Network’s (CFX) mainnet integration. The hope is to attract more initiatives, establish liquidity pools to facilitate the exchange of CFX tokens, and implement incentives that promote liquidity, ultimately increasing the network’s worth and usage.

By deploying Uniswap v3 on Conflux eSpace, the Uniswap community gains access to a wider range of trading opportunities with both USD- and CNHC-based pairs. This development is particularly timely in light of regulatory restrictions facing USD-based stablecoins. Furthermore, projects operating in currencies other than USD will benefit greatly from this deployment, especially Asian projects that can now use CNH for settlements without worrying about currency fluctuations.

Conflux has opted to participate in a highly intricate Defi ecosystem in parallel, with the aim of drawing the attention of ETH DeFi players. Conflux’s cross-chained $CFX on Ethereum, $eCFX, offers a liquidity pair with ETH on Curve. Following an on-chain vote by the Curve DAO, the Curve pool (eCFX-ETH) has been officially approved and added to the Curve Gauge. You can find the vote results here: https://dao.curve.fi/vote/ownership/312.

Furthermore, the aforementioned pool is now available for staking on Conflux, enabling DeFi users to operate deeper within the Curve ecosystem. While Curve has been deployed on several other networks before, none of these networks initially launched a pool on Curve (Ethereum) prior to welcoming Curve on their platform. Conflux’s choice to do so indicates their efforts to establish contact with the Curve community while on Ethereum and offer a new Curve pool for Asian DeFi projects before a possible launch of Curve on Conflux eSpace.

The intersection of US and EU regulatory barriers on blockchain and the recent supportive regulations on blockchain in Hong Kong emphasize how crucial the Chinese market is for the development of Web3 projects.

Over 84% of global blockchain applications have been submitted in China, dwarfing submissions in the UK (11%) and the US (14%), which confirms that China represents one of the most innovative markets in Web3.

“By integrating eCFX with the Curve ecosystem, our team aims to demonstrate a strong commitment to robust DeFi,” says Christian Oertel, Global Expansion Manager. “As Uniswap prepares to launch on Conflux, more tokens developed by Asia-based teams will be incentivized to build bridges into this burgeoning ecosystem. Once Conflux reaches an appropriate scale, our team plans to natively deploy Curve Finance, bringing the efficient stablecoin AMM-giant to Asia’s own DeFi-centric blockchain.”

About Conflux Network

Contact

Melissa Tireymelissa@shift6studios.com

Binance to Support Upcoming Network Upgrades for Shentu and Conflux

Cryptocurrency exchange Binance has announced its support for the forthcoming network upgrades and hard forks for Shentu (CTK) and Conflux Network (CFX). The upgrades are scheduled to take place within the next week, and they come with specific timelines for suspending and resuming deposits and withdrawals for the respective tokens.

Shentu Network Upgrade Details

The Shentu (CTK) network upgrade and hard fork are set to occur at block height 14,875,800, approximately on September 6, 2023, at 13:30 UTC. Binance will suspend deposits and withdrawals of CTK starting from 12:30 UTC on the same day. The exchange clarified that “the trading of CTK will not be affected during the network upgrades and hard forks.”

Conflux Network Upgrade Details

Similarly, the Conflux Network (CFX) will undergo its network upgrade and hard fork at the Conflux epoch of 79,050,000. Deposits and withdrawals for CFX will be temporarily halted starting from September 7, 2023, at 16:00 UTC. As with the Shentu upgrade, trading for CFX will continue uninterrupted. (See Exclusive interview with Conflux CEO by Blockchain.News)

Technical Requirements and Token Stability

Binance has assured its users that it will “handle all technical requirements involved for all users holding CTK and CFX in their Binance accounts.” Notably, neither of the network upgrades will result in the creation of new tokens.

Resumption of Services

The exchange will reopen deposits and withdrawals for both CTK and CFX once it assesses the upgraded networks to be stable. Binance has stated that it “will not notify users in a further announcement” regarding the resumption of these services.

Additional Information

For those interested in more technical details, the upgrades are associated with Shentu Release v2.7.2 and Conflux v2.3.0 Hardfork Upgrade. Voting outcomes for these proposals have also been documented.

Implications

The network upgrades are crucial for both Shentu and Conflux Network as they aim to improve scalability, security, and overall performance. While Binance’s support provides a level of assurance for token holders, it’s essential for users to be aware of the timelines to manage their assets effectively.