/biz/ - Business & Finance

>>16891236
Gary Webb.

>>16891236
I have not seen this. Good find.

>>16891236
FUD

>>16891236

What do you want to know?

>>16891236
>pic related
very nice and perfectly in line with this:
https://blog.chain.link/chainlinks-growing-presence-throughout-asia/

"Senior Shanghai government officials have agreed to help blockchain startup Conflux open a research institute and incubation center with millions of dollars, the firm's co-founder said.
The Beijing-based firm counts Sequoia China and Huobi among several prominent backers, raising $35 million via a private token sale in December 2018.
The research institute will be open later in December at the earliest, while the incubation center could be launched in June 2020.
The move comes amid the city’s crackdown on crypto businesses.


"A 10,000-square-meter working site, a sizable fund and an opening ceremony attended by city officials. That’s when you know the Chinese government has your back.

The Shanghai government has agreed to open a research institute with blockchain startup Conflux as early as the end of this December, while considering an incubation center that could be set up in June 2020, Fan Long, co-founder of Conflux, told CoinDesk.

While declining to disclose the exact amount of funding that Conflux is set to get from the local government, Long said it will be in the millions of dollars.

The Shanghai Science and Technology Committee, part of the municipal government, confirmed to CoinDesk it met with Conflux on Oct. 29 to discuss government support for the institute and the incubator. An official from the committee’s technology incubation office was unable to discuss the timeline or the funding for the projects"

>>16891281
>What do you want to know?
it's not really clear what "Conflux" is aiming to do
they mention that they can handle a large number of "TPS" but who cares
what is Conflux's value statement?

>>16891298
>what is Conflux's value statement?
https://arxiv.org/pdf/1805.03870.pdf

>pic related
it seems like it's China's approach to figuring out how to scale up public blockchains like BTC and ETH
not sure what consensus algorithm they are using but there is mention of a term called "Tree-Graph" which seems novel

>>16891236
based

this pretty much BTFO's the FUD that governments will not use a public solution like chainlink.

>>16891336
>this pretty much BTFO's the FUD that governments will not use a public solution like chainlink.
it's interesting how this funding to Conflux coincided with the Chinese government cracking down on other cryptocurrency firm

While declining to disclose the exact amount of funding that Conflux is set to get from the local government, Long said it will be in the millions of dollars.

The Shanghai Science and Technology Committee, part of the municipal government, confirmed to CoinDesk it met with Conflux on Oct. 29 to discuss government support for the institute and the incubator. An official from the committee’s technology incubation office was unable to discuss the timeline or the funding for the projects.

The move comes as the government continues to crack down on cryptocurrency firms that had mushroomed after Chinese President Xi Jinping’s speech praising blockchain. The Shanghai bureau of China’s central bank went so far as to say it would “nip young crypto businesses in the bud.” Beijing is promoting innovation, but only the kind it thinks it can control.

Nevertheless, the Conflux Incubation Center aims to invite developers and entrepreneurs to build decentralized applications (dapps) on the public permissionless blockchain developed by the firm. Like bitcoin and ethereum, that blockchain is public, so anyone can participate, and it uses a similar proof-of-work mechanism to reach consensus on the state of the ledger and to secure the network.

“Our infrastructure for the dapps is different from ethereum and will have its own ecosystem,” said the firm’s global marketing manager, Christian Oertel, noting Conflux primarily focuses on improving its network’s scalability and building a network of global developers.

>>16891375

>>16891401

>>16891415
https://www.crypto-news-flash.com/that-s-why-chainlink-could-be-the-key-to-the-success-of-ethereums-defi/