A Faster Bitcoin? Conflux Raises $35 Million from Chinese Web Giants for New Blockchain Protocol
A new project called Conflux has raised $35 million from Sequoia China and some Chinese Internet companies. This initiative is attempting to solve the obstacles surrounding blockchains scalability. One of the biggest current problems is blockchain being too slow as a technology. Presently users are only able to add one block at a time to the chain, which is ultimately inefficient in being applied as a real world ledger. Conflux claims it will provide a system that allows parties to work on blocks and add them concurrently, while also maintaining the decentralized method of consensus.