Politics
China: President Xi Jinping congratulates the designer of the Conflux (CFX) blockchain
A thaw between China and cryptos? For some time now, the Spine seems to (slightly) relax its relationship with cryptocurrencies. The Great Industrial and Commercial Bank of China (ICBC) even recently did compliments Bitcoin (BTC) and Ethereum (ETH). This time it's the president Xi Jinping in person who congratulates the work ofAndrew Chi-Chih Yaoprincipal designer of the public blockchain Conflux (CFX).
Xi Jinping welcomes blockchain technology specialist
It's in a letter open published this June 12, 2024, that the Chinese president Xi Jinping congratulated the researcher Andrew Chi-Chih Yao. The latter is an academician of the Chinese Academy of Sciences, professor at Tsinghua University, but also the scientific manager of the blockchain network Conflux.
The general secretary of the Central Committee of the Chinese Communist Party (CCP) thus recognizes the value of the work accomplished by the scientist, and urges him to continue:
You have worked hard and devoted yourself to Tsinghua University, and you have achieved successful results in teaching, education, scientific research and innovation. I would like to send you my sincere congratulations. () I hope you () will continue to create a high-level talent training and scientific and technological innovation base (). A country strong in education and strong in science and technology will bring new advances.
Open letter from Chinese President Xi Jinping to scientist Andrew Chi-Chih Yao
Andrew Yao works on Conflux, one of the few public blockchains in China
Conflux Networkwhose native token is CFXis a first layer blockchain network (layer 1) similar Ethereum (ETH). This platform smart contracts however has the particularity of being based on a hybrid PoW/PoS consensus. This means that the network operates both Proof of work (Proof of worklike Bitcoin) and the Proof of Stake (Proof of Stakelike Ethereum since September 2022).
On his site Internet, the crypto project presents itself as the only public blockchain complies with regulations in China . His goal transnational is also clearly stated, with a desire to facilitate cross-border transactions.
We can also read that the network Conflux was melted in 2018based on the consensus algorithm Tree-chart developed in the research laboratory of Professor Andrew Yao.
If we already knew that the Chinese special administrative region of Hong Kong wants to become a crypto hubit would seem that, even in mainland China, the speech starts to change a little concerning public blockchain networks. Will Xi Jinping's country go back on his mistake to have officially bans Bitcoin miningAnd legalize it as Russia intends to do Alright ?
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