Conflux price up 40%: China Telecom and Conflux to pilot blockchain SIM cards

Conflux price up 40%: China Telecom and Conflux to pilot blockchain SIM cards
фото показано с : invezz.com

2023-2-16 15:22

The price of Conflux (CFX/USD) is soaring after Conflux Network today announced a partnership with China Telecom (NYSE: CHA) to introduce Blockchain SIM (BSIM) cards. The product intends to loop in most web3 users and applications.

Following the partnership, China Telecom intends to launch the first pilot program for the BSIM program in Hong Kong later this year. This will likely be followed by pilot programs in several mainland China areas like Shanghai.

Lowering the barrier to Web3 entry

The proposed BSIM cards will make it increasingly easy for China Telecom’s 390+ million mobile subscribers to enter web3. It will also make transactions safer and more secure mainly since it will be using blockchain technology.

Besides using the hardware security advantages of SIM cards, the BSIM cards integrate Conflux’s Tree-graph, dual proof of stake (PoS) and proof of work (PoW) technology, which will enable increased system performance.

While the BSIM is visually similar to the normal SIM cards, its storage space is 10 to 20 times larger while the computing power is tens of times higher. In addition, BSIM users will also be able to store and transfer digital assets safely and conveniently and also display their asset balances in a variety of applications on their phones.

Interestingly, the BSIM cards will store and manage users’ private and public keys. Digital signatures will also be done in a manner that the private key does not leave the card.

In essence, digital signatures and transfer of assets will rely on a built-in Bluetooth module that ensures the security of the stored digital assets.

Continued Conflux and China Telecom engagements

Today’s announcement follows an initial agreement between Conflux Network and China Telecom that was signed in 2022 to allow engagement in building hardware products geared towards the metaverse.

The research and development of the BSIM card are already complete and the card has also been successfully connected with Conflux’s main network test environment.

The post Conflux price up 40%: China Telecom and Conflux to pilot blockchain SIM cards appeared first on Invezz.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Доступно / Всего 0 LINKETHPA

conflux blockchain sim cards telecom china price

conflux blockchain → Результатов: 40


Conflux’s cross-chain bridge ShuttleFlow now live with Ethereum, Binance Smart Chain, Huobi ECO Chain and OKexChain

CryptoNinjas » Conflux’s cross-chain bridge ShuttleFlow now live with Ethereum, Binance Smart Chain, Huobi ECO Chain and OKexChain Conflux, a permissionless layer-1 public blockchain network in China, has announced the mainnet release of ShuttleFlow, a multi-chain asset solution that enables bi-directional interoperability for digital assets between and across Conflux Network, Ethereum, Binance Smart Chain, Huobi ECO Chain, and OKex Chain.

2021-4-21 01:57


Blockchain project Conflux launches massive grant program for development

Conflux Network, a public, permissionless blockchain project in China, today announced the launch of its Conflux Ecosystem Grants Program. The 2. 4 billion CFX (approximately $240 million) rolling grants program will fund entrepreneurs, engineers, and evangelists dedicated to advancing innovations in software development and research for the Conflux Network ecosystem.

2020-7-22 19:28