Hello, hello, just testing whether you guys can hear me. Hey, yeah, we can hear you. Hey.
Hey guys, welcome to another shared bit truth AMA and today's AMA we have a special guest from one of the most prominent projects of 2013 tree conflicts recently conflict
The box has been a hot topic in the crypto space and today we're going to dive deep into the project together. Hey Chris, thanks for joining us, it's a guest and thanks for your time. Could you please introduce yourself and come flux?
Hey, thanks again for inviting me on here today. And yeah, happy to talk more about Complex today and also give out just a quick introduction about myself. My name is Chris. I'm currently the expansion deed at Complex. My background is in industrial engineering, but in 2007.
I turned into a web 3 and through the S and over the time into a web 3 general list and my main goal is to push for the adoption of blockchain technology. Before joining CompLogs in 2019, I also found at the Tsinghua University International Blockchain Association where
that a crypto fund and also tried my luck starting a crypto company in Xinjiang. But yeah, all roads led to complex network and I've been here ever since and before the Maynets started. So thanks again for having me here.
Yeah, hey thanks Chris for joining us. Yeah, so a little bit more about conflicts. Conflux is a public blockchain in China and the only one that is legal so far. So could you share a little bit more about what conflicts is about and how it works?
Yes, absolutely. We call ourselves a blockchain without barriers. Our slogan is "Comflux enables creators, communities and markets to connect across borders and protocols." One thing that you already mentioned is that we are publicly
recognized by the Chinese government and that's also because since day one we said we want to be regulatory compliant if we want to play the long game and also want to have our chances at leveraging blockchain technology in specific complex networks blockchain technology
to be used within the mass adoption of the future. So yeah, the interesting thing is so we never did an ICO which was banned in 2017 and that was one of the things that was also important.
Besides that, our whole founding team is from a very reputable university in China called Team Hua University, and they actually also come from a special class called the Yao class, which is the class of touring a Warranty winner, Professor Andrew Yao.
Yeah, and in 2018 the idea started the initial team started to fundraise back in 2018 during the crypto winter complex raised 35 million US dollars and yeah 2019
We launched our testnet for developers to deploy their smart contracts and in 2020 on October 29th the main ad launched so yeah the main ad has been running and We've never had any problems and the utilization is
still a lot of room for utilization. So we build a scalable network that is decentralized, that is scalable, and that is secure. And that is for everyone to use. So that's just a quick introduction about complex.
This is super cool. Thanks for sharing. So I guess one of the things we always like to ask our guesses with projects or such skill and size, that definitely has to be a team that goes behind building something like this. So the team is working behind the scenes, putting everything together.
So could you explain a little bit more about the structure of the team behind the project? I know you mentioned a lot about Singapore and how you guys came from a special class. So is there a certain way that the team is structured? Are there any prominent investors or partners that support the project at this point?
Yeah, I can start by talking about the team, the funding team. So our founder is called Fan Long and he was one of the students from the Yau class that we mentioned in addition to
that he also holds a PhD of computer science from MIT and he's also a gold medal recipient of various computational science
competitions worldwide. When we talk about tech and the fundamentals and he has over 20 publications within computer science and more than a thousand citations that have been used. So there's a bit
more on the background of our CTO called Ming Wu, who was co-founder and CTO as mentioned. He earned his PhD from the Institute of Computing Technology and at the Chinese Academy of Science in 2007.
And afterwards, he was working at Microsoft where his research included distributed transaction processing systems, graph computing engines and AI platforms. And our other co-founder is called UNJJANG.
Before coming to joint contracts, he was working at various funds and companies on Wall Street as well. And his expertise was in investments, capital markets and business operations. And besides that, we have two very renowned advisors, both
called Andreas, one is called Andreas Meneris, the other one is called Andreas Park, just a quick overview of both of them are professors at the University of Toronto and as for our research team and developers, all of them are from the Team
the class that I've mentioned about. And for partners, I think throughout the years we have gained many reputable partners. One thing that we can hopefully touch based on today is the partnership with Telecom China, China Telecom.
that has 390 million active users, being one of the large three telegram providers here in China. And another one, if we have time, we can talk about as well, is the partner Xiao Hongshu, which is like a Chinese Instagram
with more than 200 million month the active users and they have integrated complex networks so their users can also showcase NFTs on top of complex. From an investor's perspective that was from 2018 we had investors like IMO
ventures and many other VCs out there. Many of them also being traditional VCs from the Web 2 industry. Joining Web 3, one of them is, for example, Sequoia China. They participated in the
back then and since then we've also raised funds from DWF and KuKo and Ventures recently and I'm sure if you guys grow through the Twitter of Complex Network you'll see all of this information that's publicly available.
Well yeah, it's super cool a lot of big names there. So yeah, I think definitely a lot things to check out for members in the audience today I think the next thing you want to talk about is a complex native token CFX so I guess with most projects a lot of people want to know
know what are the utilities of the token and how do the tokenomics look like. Think you mentioned a telco company earlier so are there any prominent use cases in the future that the community should know about? We've regards to utilities and tokenomics for CFX.
Complex Network is a public blockchain layer one. So some of these use cases if you guys are familiar with ETRM, BNB, etc. for a domain that's talking like CFX of Complex
network, it will be used for transaction fees. So if you send a transaction, the gas fee will be paid by CFX. But in addition to that, the protocol is a bit different. It has also
CFX can also be used as a storage unit for smart contracts and transaction to enable a more optimized storage usage of the blockchain network. And this also allows
developers that want to develop on top of complex to sponsor trans a their smart contracts so that the user on the backend when it interacts does not need to have the main a token in their wallet.
right so they can use the blockchain network in a sense as if they were using any traditional web tool platform out there. Besides that CFX can be mined by proof of work minors
and can also be staked in our proof of stake system. Both of these are to increase the security of the network and besides that CFX can also be used for governance. As you can see,
on our governance page and also use for voting. But besides that, like the use cases are unlimited. It just depends on how the ecosystem projects want to leverage it as well.
Yeah, it's really cool. So just sneak peek for everyone who is here. Beatre will be listing CFX soon with an exclusive event that will be hosting. So definitely be sure to stay tuned for that.
But back to the question, we're definitely very happy to partner with a project like Conflux. As a leading exchange, to be able to partner with
kind of first public blockchain in China is to hear about all these things. I think it's a great honor for us. So what are some things that can be expected from the partnership between the true and complex?
I think that there are a lot of benefits to expect from this. I just want to just quickly mention a couple. So for one, it will be easier for the community to access CFX through Trubit. But also, it will be easier for people who are traders
to access CFX as well on Trubit. But in addition, if people want to go on chain, Trubit will also be one of the best places to use your systems to unwrap onto complex net
So yeah, in the future besides trading that you can also tap into DeFi with our existing and scalable network without paying the ridiculous amounts of gas fees on Ethereum or Bitcoin and also tap into complex decentralized ecosystem.
Yeah, super super cool. Thanks for sharing that with us. One thing that Conflux has is a wallet known as Flun wallet. So could you explain a little bit more about it and what are some of the advantages of using the
So yeah, fluent wallet was developed to fully
and compass all features of complex network. Right. And when we were studying the existing wallets out there in the system, we were not happy with a lot of the features or whatever it provided. And for example, if you wanted to add a token,
You have to edit manually, right? So so fluent can automatically show up your tokens for you if you're using that but also I think we'll dive deeper into it in in a bit but complex network has two spaces on the screen
same ledger. One is called complex core and one is called complex e space. While complex core and e space are both EVM compatible, they still have a couple of differences, namely the wallet address, right? And maybe some deeper
Yeah, intracurational aspects, right? So fluent wallet allows users to not only access core but also eSpace within the same wallet ecosystem and besides that the UI is much improved in comparison to many other
Well, it's that you guys might have been using or had seen and it also includes the ledger functionality for complex core.
Right, that's really in that explanation for about what film wallet does and I think kind of covers most of the ground about what the wallet has and some of the features I think the next question I have for you is that it's again back to Tag
communications in China. So recently, conflicts establish a partnership with one of the biggest telecommunications providers in China. So can you tell us a little bit more about this partnership and what we can expect from the partnership as well as how it will benefit conflicts in the long run?
Yes, it's a great question and ultimately I'd like to say that it's a win-win for both Conflux and China Telecom. From a very high level, what the SIM card is is that it is also a hardware wallet, but it's in form of a SIM card
that's right in your mobile phone. So I'm not sure of all the listeners out there how many of you guys actually have a hardware wallet, like a ledger or a TZOR that you guys use. But using them on a daily basis is somewhat inconvenient. You need to
a couple of via Bluetooth or you need to put in a old USB cable into your computer and every time you want to make a transaction it's there. But a hardware wallet is always safer than a software wallet which is like your traditional app wallet or your
add on wallet in your browser. So it's safer. So in an essence, the Bison card, which is what we have been collaborating on together, the blockchain card, it will dramatically lower the barrier to entry, to onto Web 3.
for China telecoms, 390 million mobile user mobile phone subscribers, while making the transactions faster and more secure on-conflux network in combination with the hardware SIM card or the hardware wallet. And it makes the telecom
users personal digital assets more secure. In addition to that, if the applications are on the phone, the phone applications are also more secure. The B-SIM card will manage and store the users public and private keys in the card and carry out digital
signatures in a way that the private key does not exit the card ever. Right? So it's not like when you use mid-term ask on your computer, you need to find your private key, input it in there, and then it's stored in your browser. So anyone who can hack into your browser has your
password can also find out what your private key is. And I think if you guys have been following the news recently or even throughout the last couple of years, hacks happen all the time. And this Bison card
makes your assets safer. But in addition to that, users
identifiers in the traditional world, right? For example, your mobile phone number can be tied to their DIDs, their decentralized identities. And this allows for better integration and interaction between the virtual and the real world information.
For example, if you enter the metaverse, or you enter a web3 chat with your identity that is blockchain-based. But the B-SIM card can also be combined with abstract accounts based on smooth
contracts to enable blockchain applications to safely and more efficiently using users crypto and traditional world information in the world where Web 3 is being more and more regulated.
So, yeah, connecting your DID with the phone numbers might be something that is a requirement in terms of regulation in certain areas of the world. So, yeah, we'll see how that works.
But all in all, in short, the B-SIM card that we have worked on together with China Telecom will enable a safer experience and faster experience for their 390 million telecommunications subscribers.
Well nice that's super cool. Thanks for sharing all of that. I think there's a real in-depth dive to how things work for Conflux and how you guys plan to make this a diet thing work. I think despite the very sentiment that
So what do you think you can do about Confluxes Roadmap 4, 2, 3, any major plans, major updates on any
that was delayed from 23 to 304. So obviously one of the big things will be complex will be listing on bit true in 2023 right but besides that I think
Well, what's always important of a blockchain network is its ecosystem and we're working really hard to expand the ecosystem to have more applications to onboard more users. So you can expect more gamified projects, more D5
projects and EID projects on top of conflicts, S for the team and the tech and our researchers, they will continue building, making the network more secure, making it even more scalable than it is
is through other technicalities, for example, parallel processing of transactions, but also to always continue our technical updates in the future until
So this part never stops. Right. One of the main focuses on the type team is to always provide the best developer experience to have the best documentation for everyone to make the onboarding faster and at the same time to increase
the security of the network, its decentralization and its throughput. And as mentioned before, we have already partnered with many big players in China. One of them is Xiao Hongshu, the China's Instagram. And because China has a very
China mainland has a very special regulation that only allows the trading, holding and transferring of NFTs so we can also expect more and more big players to develop NFT scenarios, use-caterials,
for their existing user basis of hundreds of millions of users. Talking about this topic, I can go on for hours of the different use cases, but some examples that I can say are for example,
like ticketing via NFTs, virtual fashion via NFTs, augmented reality through NFTs, but also community building through NFTs or access to, for example, a
Twitter community via NFTs. So these are all things that we'll be rolling out that aim for the adoption of blockchain technology. And yeah, hopefully we can share more and more and yeah, I definitely recommend everyone to
follow a bit true and complex to stay up to date and to hear more about the latest use cases that have been developed and actually have real use cases out there. Thanks so much for sharing that. I think not that I've always
kind of went through most of the questions that were from our team to you. I think we definitely want to take some time to answer some questions from the community. So I think the first question that one of our members of the community have asked is,
how scalable Conflux network is. According to this person, Dave came across information about its ability to handle 3000 transactions per second. So, will there be a possibility for Conflux to go higher than that?
Yes, I think this is a question that everyone is thinking about. Right? If we look at Ethereum, you have layer 2s and now layer 2s are even thinking about their threes. Right? So
For one, as mentioned, we are constantly working on use cases or technological innovations to increase our layer 1 scalability. Hopefully we can be even higher than 3,000 trans
elections per second in the near future. But let's say if that reaches a bottleneck, I know that our research team is also looking into how to expand the complex network to a layer two, right? So that
increase the scalability even more and these layer tools in essence can also build layer 3s. Besides that we're also looking into app chains on top of Conflux. So yeah, I think there will be solutions
Once we hit that threshold of 3000TPS and once we achieve that, hopefully as soon as possible, we will be ready for it to expand even further and process even more transactions.
Thanks for answering that question. So yeah, regarding scalability, I think that's your answer for you. So there's not a question here, which is about collaboration you have with an actor who's pretty famous. So a client disease
user they saw that you guys have a collaboration with a singular jcho creating an NFT on Conflux. So how does that work and how does Conflux make an impact and bridge the traditional crypto space into the NFT?
So I would like to start by talking about JTOL. Obviously the user who has asked this question knows him, but for everyone who's not from the APEC area, and JTOL is probably the biggest entertainer, music artist, but also actor since
the early 2000s that has shaped the way music is, the way entertainment is, and also how to innovate within this space. So if you have been following Closie, he has also had his NFTs. I think they were called phanta bears.
one or two years ago, but he also has a very massive, massive user base or fan base here in China. And what he did for them was to create metaverse spaces of his songs. So let's say
Let's say you're your day child fans and off the top 10 songs details for off these songs and created the immersive experience for users right and once you go into this space
want to enter the metaverse, let me share that a link here so you guys can actually see what I'm talking about, how the space looks like. I'll share it within that it pops up here on top.
and see where the button is.
I think yeah, so here I shared it here and if you guys click on the play button you'll see how the experience is and this is just one of his experiences one song that he and the team he has been working on
created a metaverse experience where we dive into the history of the essence of the melancholic feel of death specific song. You will hear his like things that were not in the original song, maybe some of his tests
voices, maybe some of his vocals and in the background you hear the sound, maybe it's the initial version of the background sound, of the song, right? And that's just one of the spaces he did. And essentially what he did
with another company called Bohr here in China is for the fans they were able to collect different NFT keys. Right and once a holder has this key which is also on the blockchain network of complex
They can then enter this specific Mitevers demo or experience So this is one of the things and that's also what I talked about like ticketing ticketing examples how NSD
these are used. And besides it being used for tickets to a concert, for tickets to a pet show, it can be also used as an interest, as an entrance ticket to very specific
experiences within the Metaverse, and in this case, of something Jay Chow wants to share with his fans.
Well, thanks for sharing that. I think it looks really good and for those of you who are interested you can just click on the link that has been shared by Chris and just have a look at how it is. I think it's really cool. You could just search the hashtag Jcharm Music Metaverse and I think it's a really cool introduction to
What conflux is doing and what conflux is building with J. Child who is definitely a very renowned celebrity, both in the impact region and around the world. So I think we'll just move on to our final question here. So one of the questions
This is actually regarding the advanced proof of what consists of this mechanism known as tree graph that a construct is known for. So this user is asking whether what construct has an advanced proof of what consists of mechanism known as the tree graph.
It at the same time has Oh, sorry, so the user is asking if at the same time So it's right, so I'm just trying to bring that so the the user is asking if Conflux has a proof of work system known as the track
And how does it work alongside its proof of stake mechanism? Is there some kind of fusion and combination of proof of work and proof of stake consensus mechanism or are they separate validation methods that are used separately? Yeah.
Thanks. So, so, in and over, so, thank you. I think I understand what the user wanted to ask. So, he essentially wants to ask like how complex network was able to combine proof of work and proof of state.
So in the very beginning, when complex started out, it was a PO proof of work chain, right? The complex consensus mechanism known as tree graph, which has massive improvements in comparison to the ethereum proof of work from back then or the
bitcone 2.5 work and has always been deemed like an impossible task or impossible challenge to solve but yeah our our founding team was able to resolve that and push that to 3000 TPS but if you guys do further
the research on proof of work, there is always a tech vector called the 51% attacks that can harm the network. So in order to make the network even more secure, we added a POS layer onto
top of POW on top of the proof of word layer, which then adds finality into the block confirmation. So these 51% attacks don't send a chance anymore. So the POS is just, you can think of it as a
layer on top of proof of work to make the network even more secure. So that's why users can also mine CFX like a traditional proof of work minor, but they can also simply state CFX into a POS node and
at the same time increase the security of Conflux Network, which is I think a win-win for all users and also a big win for the network itself to be more secure while maintaining a high level of security throughput and decentralization.
Thanks so much for answering that question. I hope that answers about that user's question or how Conflux is able to kind of have proof of work and proof of state work simultaneously as consensus mechanisms. And thank you so much Chris for answering all of these questions.
I think it's a real opportunity for us to share with our community about what Conflux is building and a lot of things that you guys are doing. I think it's really important that we got a chance to speak about all these things today. So for this AMA, we'll be doing
an adrock where you can join and share $1600 in CFX tokens. So the password for today's AMA is BTRCFX2022. So when you go to the Google Form type in BTRCFX2022.
and you will be able to enter the form to participate in this ad drop and you know stand-inshans to win CFX tokens. So before we end the AMA session, I think one thing I want to get, have you do is you kind of share all the social
media channels where people can follow a complex on. You guys know that a complex system to the account is also in this AMN you can just follow them from here but a press if there's any accounts you know this called telegram and stuff like that that you want to share. Now's your time here.
Yeah, thanks a lot. Thanks again for joining us, for inviting me here today. And I think, yeah, the fastest way is to go to complex networks, official Twitter account. And in the links, you'll see a link tree link, right? And in there,
You have all the links, like if you want to join our telegram communities, you can find them there. If you want to join this course, you can find them there. If you want to, if you are a developer and you want to look into our technical documentation, you can find it there as well. And also, if you want to join one of
localize community in your language. We have communities in more than 20 different regions with local language. So that's also where you can join. So yeah, Conflux, welcome to everyone to join our communities and hopefully we can
build, grow and shape Web 3 together. Thank you very much for having me here today. Thanks so much for joining us Chris and all the best with everything that Confox is building and I wish you the best and I hope to see you around soon. Thank you so much. Thank you. Bye.