Conflux (CFX) is a revolutionary Blockchain platform that connects creators, communities, and markets through the use of the Tree-Graph consensus algorithm and Proof of Work (PoW) mechanism. It offers enhanced user experience by enabling cross-chain asset transfers through ShuttleFlow and built-in staking support for DeFi applications. With its strategic partnerships and global expansion efforts, Conflux aims to bridge the gap between Asia and the West and drive the adoption of Blockchain technology. This article provides answers to two commonly asked questions: What is Conflux (CFX) and how to purchase Conflux (CFX) using TRY.
Contents:
1. What is Conflux (CFX)?
2. How to Buy Conflux (CFX) with TRY?
3. How to Open an Account on Binance TR?
4. How to Verify Your Account on Binance TR?
5. How to Deposit TL on Binance TR?
6. How to Buy CFX Coin with TL on Binance TR?
7. What is Binance TR?
What is Conflux (CFX)?
Conflux is a Blockchain-based platform that connects creators, communities, and markets across various protocols. It utilizes the unique Tree-Graph consensus algorithm for efficient transaction processing and the PoW consensus mechanism for security and prevention of reentrancy attacks. Conflux also features ShuttleFlow, a cross-chain asset bridge, and supports built-in staking for decentralized finance (DeFi) applications. Stay updated with the latest technology news on NEWSLINKER.
Conflux aims to bridge the gap between Asian and Western societies and economies through its public Blockchain platform. Its Tree-Graph consensus mechanism significantly enhances scalability compared to existing networks like Ethereum. Conflux is EVM-compatible, allowing developers to write smart contracts in Solidity, making it versatile. Headquartered in Beijing, China, Conflux has expanded its operations to Toronto, Canada, and Lagos, Nigeria, demonstrating its global reach and ambition.
Conflux’s roots can be traced back to Dr. Andrew Yao’s research lab at Tsinghua University, a Turing Award winner. The platform’s foundation lies in the Tree-Graph consensus mechanism, which enhances scalability and efficiency. In 2018, the Conflux Foundation was established to create an open application platform based on this innovative consensus mechanism. The foundation’s mission includes advancing Blockchain education and research, vital for the platform’s development and adoption.
One of Conflux’s standout features is ShuttleFlow, a cross-chain asset bridge that enables seamless transfers of assets between different Blockchains. This feature is particularly beneficial for users who want to leverage assets across multiple platforms without any friction. Additionally, Conflux’s built-in staking options support various DeFi applications, providing users with opportunities to participate in and benefit from the growing DeFi ecosystem.
Strategic partnerships play a crucial role in Conflux’s growth and development. The Tree-Graph Research Institute collaborates with the Shanghai government to focus on Blockchain technology and applications development. Similarly, the partnership with the Blockchain Infrastructure and Applications Key Laboratory, supported by the Hunan government, showcases Conflux’s commitment to innovation and research. These collaborations are integral to Conflux’s mission of bridging different Blockchain ecosystems and promoting global Blockchain development.
Looking ahead, Conflux is well-positioned to make significant strides in the Blockchain space. Its unique consensus mechanism, cross-chain features, and strong focus on research and development make it a formidable player in the industry. The platform’s ability to connect different communities and markets across protocols holds the potential to drive widespread adoption and integration of Blockchain technology globally.
How to Buy Conflux (CFX) with TRY?
For Turkish investors looking to buy Conflux (CFX), Binance TR is the most suitable cryptocurrency exchange. On Binance TR, you can easily create an account and trade over 100 cryptocurrencies, including CFX. Follow these steps to purchase Conflux (CFX) with TRY on Binance TR.
How to Open an Account on Binance TR?
Opening an account on Binance TR is a straightforward process. Simply visit trbinance.com and proceed to the “Create Account” step. In the first step, you will need to provide basic information such as your email address, phone number, name, surname, date of birth, nationality, and Turkish ID number.
After entering all the required information accurately, you will need to undergo email/SMS verification to confirm your details. Once this process is complete, you can proceed to the second step, which is identity verification (KYC).
How to Verify Your Account on Binance TR?
Identity verification is a necessary security procedure that must be completed before you can start trading cryptocurrencies on Binance TR. You can choose to complete the verification process either through your phone or via Binance TR’s official website. Please note that you will need your mobile phone for identity verification on the website.
On the Binance TR website, hover over the “Profile” option in the top right corner, click on “Identity Verification and Limits” from the drop-down menu, and then click “Verify.” After this step, you will need to scan the QR code that appears using your phone’s camera and continue the process on your phone. If you are unable to scan the QR code, you can click “Copy URL” to send the identity verification address to your phone via SMS.
When you enter the address on your phone or scan the QR code, a screen will open, prompting you to tap on “Identity” to continue. From there, select the document type that suits you best and follow the instructions to upload the front and back sides of your ID card or driver’s license. Make sure the images are clear and the information is easily readable.
After completing these steps accurately and completely, your identity verification process will be completed shortly.
How to Deposit TL on Binance TR?
You can easily deposit TL into your Binance TR account through any bank. You can deposit TL 24/7 and trade without interruption using Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. For other banks, you can deposit up to 50,000 TL 24/7 using FAST. Deposits over 50,000 TL from other banks are processed during EFT hours.
To deposit money into your Binance TR account, go to trbinance.com and hover over the “Wallet” option in the top left corner of the homepage. Then click on “Deposit” from the drop-down menu. On the deposit page, select your preferred bank or choose the “Other Banks” option if your bank is not yet integrated with Binance TR. Follow the instructions provided to make a transfer, EFT, or FAST deposit into your Binance TR account using the bank details shown.
Once your bank completes the transfer process, the funds will automatically be reflected in your Binance TR account wallet.
How to Buy CFX Coin with TL on Binance TR?
After completing the deposit process, you can proceed to buy CFX coin with TL. Click on the “Buy-Sell” option in the top left menu on the Binance TR website. On the trading page, use the search section to find “CFX” and click on the CFX/TRY option to access the page for buying CFX with TL.
On the CFX trading page, enter the price at which you want to buy CFX and the quantity of CFX you wish to purchase. After entering the amount, click the “Buy CFX” button to complete your purchase.
What is Binance TR?
Binance TR is the official platform of Binance, the world’s largest cryptocurrency exchange in terms of trading volume. It was launched in 2020 specifically for cryptocurrency investors in Turkey. Based in Istanbul, Binance TR provides fiat-to-crypto and crypto-to-crypto trading services leveraging Binance’s technology, security measures, and liquidity through the Binance Cloud infrastructure. Users in Turkey can conveniently deposit and withdraw Turkish lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY pairs on Binance TR.
Through Binance TR, users can access market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls offered by Binance’s core functions.
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Disclaimer: The information provided in this article does not constitute investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry inherent risks. It is recommended to conduct thorough research before making any investment decisions.
