The Conflux and META 1 Coin networks provide the market access to some advanced DeFi features. These platforms were both built to solve some of the most pressing issues facing investors today. From a distance, these platforms appear to be very similar. However, after a closer examination, it’s easy to see the glaring differences between these networks. Here’s everything you need to know about Conflux vs META 1 Coin.
What is Conflux?
The Conflux Foundation is the group behind the Conflux platform officially formed in 2018. Notably, it was one of only a select few blockchain startups backed by the Chinese Government. Specifically, the city of Shanghai provides support for the project. Conflux’s founder, Andrew Yao received a Turing Award from Tsinghua University.
Conflux is an advanced DeFi protocol that enables frictionless cross-border transactions and more. The goal of the project is to improve blockchain integration through education. The protocol works closely with the Tree-Graph Research Institute in Shanghai.
Notably, China has been vocal about its crypto concerns. The country banned ICOs and all local exchanges in 2017. Since that time, the government has steadily pressured civilians to abandon cryptocurrencies while simultaneously driving innovation for government use of these technologies. Despite their efforts, the Chinese government appears to be ok with DeFi platforms like Conflux.
What is META 1 Coin
The META 1 Coin is the building block of the META DeFi system. Users can leverage these coins’ unique attributes to improve their holdings with minimal risk. The coin provides a stable platform for users to build on. To accomplish this task, the developers integrated some new advancements into the META 1 Coin not found on any other platform.
For example, META 1 is the first multi-asset-backed stable coin to integrate whale manipulation protections. The token prevents large investors from dumping their bags for under asset value. Additionally, the developers introduce a decentralization mechanism that ensures that the network doesn’t get hijacked by big-ticket investment firms or governments. Only humans can own and trade META 1 Coin.
What Problems was Conflux Built to Alleviate?
There are a variety of problems that Conflux helps to reduce. For one, it’s designed to improve interoperability in the market. The DeFi sector continues to expand. However, the new DeFi ecosystems lack the ability to communicate with other networks in a seamless manner. Conflux provides multi-chain interoperability that extends to Ethereum, Binance Smart Chain, Huobi ECO Chain, and the OKEx Chain.
As one of very few state-backed Chinese DeFi ecosystems, Conflux tackles the problem of regulatory compliance for developers. The platform provides developers with a way to create apps without worrying about regulators intervening and shutting the operation down. Part of this approach requires that Conflux maintain very close communication with all critical regulatory bodies.
Additionally, the entire platform is EVM compatible which helps to streamline the onboarding of new developers. Conflux empowers these users to create advanced multi-chain Dapps. This maneuver also helps to reduce liquidity issues in the DeFi space. Compartmentalization of the market has led to liquidity issues in the past. The multi-chain strategy used by Conflux links traders and markets in a way that allows both of these parties to benefit.
What Problems was META 1 Coin Built to Alleviate?
META 1 was built from the ground up to provide users with a viable alternative to the status quo. Everything about the platform is designed to provide you with more earning opportunities, privacy, and protection. The META 1 Coin eliminates volatility from the market which makes trading easier for users.
The network introduces some cool features that provide you with a variety of ways to secure passive rewards. You can stake your tokens or utlize a high yield savings account to earn with minimal risk. Both of these strategies are great options for new users because they are not dependent on your skill level or overall understanding of the market.
When you stake tokens, your rewards are based on the amount you stake. As such, the rewards are more consistent when compared to day trading. Also, staking doesn’t require you to relinquish ownership of your tokens.
How Does Conflux Work?
Conflux was built to support China’s drive into the next generation of financial applications, e-commerce, and Web 3.0. The protocol is extremely scalable. It can handle up to 6000 transactions per second according to company reports. Additionally, this high scalability goes along with a very low fee structure. It only costs a fraction of the cost to send value over Conflux versus earlier blockchain such as Ethereum.
Conflux introduces the Shuttleflow protocol to the market. This multi-chain blockchain bridge enables asset exchanges over different networks. It enables developers to create multi-chain applications in a more efficient and secure manner.
Conflux leverages a Proof-of-Work (POW) variant that integrates Tree-Graph technology. This tech allows the network to process transactions in parallel using a Directed Acyclic Graph (DAG) structure. The mechanism relies on Epochs to remain scalable. Epochs are snapshots of the state of the network. They improve scalability because they reduce the workload for nodes by reducing the number of times they need to validate the entire blockchain.
The Conflux Foundation is the non-profit group behind the expansion of the Conflux platform. This team is responsible for funding exciting new developments and Dapps that have the potential to improve the network’s market positioning. These funds get issued in the form of grants to developers. Notably, the community can vote on what projects are worthy of these funds via the community governance system.
How Does META 1 Coin Work?
META 1 provides users with a variety of new opportunities in the market. The platform works by integrating an advanced fourth-generation blockchain into the equation. The META blockchain is capable of processing transactions on par with the world’s top payment processors. It also provides the META DEX with a secure and scalable solution.
Users can acquire META 1 coins directly from the DEX using their favorite cryptocurrencies and fiat. Once you have META 1 Coins in your wallet, you are now able to use the features and services of the protocol to improve your ROIs. The high yield savings account pays out `10% APY. This rate is far more than what your local bank branch offers on your savings account 0.25%.
META 1 can function as a cryptocurrency, store of value, and DeFi token. The self-appreciating aspects of the coin mean that you can HODL META 1 Coins and see profits. You can also trade this token, stake it, and much more. Best of all, you can spend your rewards anywhere that accepts VISA.
Conflux vs META 1 Coin
After careful examination, it’s easy to see that META 1 Coin offers way more features, security, and freedom compared to Conflux. However, if you live in China, the regulatory benefits of Conflux make it a network worth investigating further. In terms of profitability and overall functionality, the winner is clear – META 1 provides users with everything they need to break free from the centralized and corrupt financial system.