DWF Labs Invests $10 Million in Conflux, a Next-Generation Blockchain Platform in China
DWF Labs, a well-known digital asset market maker and multi-stage Web3 investment firm, has recently announced a $10 million investment in Conflux, a next-generation blockchain platform based in China. This investment comes after China Telecom, the country’s second-largest wireless carrier, revealed its plan to develop “blockchain-enabled SIM” (BSIM) cards on Conflux’s hybrid proof-of-work/proof-of-stake (PoW/PoS) blockchain.
Conflux is known for its breakthrough Tree-Graph consensus algorithm that enhances transaction processing speed and increases throughput by processing blocks and transactions in parallel. The algorithm reduces confirmation times and increases TPS, making it ideal for applications that require fast, secure transactions. Conflux also uses a highly tested PoW consensus to provide increased security and anti-reentrance attack protection at the protocol level.
Conflux’s partnership with China Telecom to develop BSIM cards means that its Tree-Graph, dual PoS, and PoW technology will be integrated into the new SIM cards, providing “the highest system performance for any blockchain in the world.” This initiative is expected to lower the barriers to entry for Web3 and the Metaverse.
DWF Labs’ investment in Conflux is expected to help the platform expand its technology and grow its user base, furthering its mission of bringing the benefits of blockchain to users globally. According to Andrei Grachev, Managing Partner at DWF Labs, Conflux’s recent partnership with China Telecom is a significant milestone for the blockchain industry, demonstrating the potential of Conflux’s technology to revolutionize how we think about blockchain-enabled products and services.
Conflux’s CTO, Ming Wu, also expressed his delight about the investment, stating that DWF Labs is one of the most respected and experienced blockchain investors globally, and their involvement will accelerate the adoption and growth of the Conflux platform.
Conflux’s Tree-Graph consensus algorithm and the platform’s interoperability, scalability, and security features have helped position Conflux as a leading public blockchain platform. With DWF Labs’ investment, the platform is well-positioned to expand its technology and grow its user base, enabling the benefits of blockchain to reach users worldwide.
DWF Labs announced on February 23rd that it has invested $25 million in Beldex, a Web3 ecosystem comprising of decentralized applications that prioritize the protection of user data and identity. The investment will provide the necessary funding for research and development in the Beldex ecosystem, while DWF will act as a consultant and provide assistance with marketing efforts.
DWF Labs invested $10 million in the TON Ecosystem in November of last year. The investment is intended to support the expansion of the TON ecosystem, with $10 million dedicated to this cause.
As a result of the crypto winter, venture-capital investments in crypto projects were down 91% year-over-year in January, although infrastructure projects managed to maintain some strength. In addition, DWF Labs has set its sights on making a total of 50 seed investments over the next year.
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