Xi Jinping Cheers Conflux Network's Chief Scientist; Encourages Innovation in Blockchain Technology
Summary:
Chinese President Xi Jinping praised Andrew Chi-Chih Yao, Conflux network's chief scientist and a Tsinghua University professor, for his significant achievements in academia and scientific innovation. He encouraged Yao to continue his pioneering efforts in cultivating innovative talent and improving China's technological advances and independence. Conflux, backed by the Shanghai government and claiming to be China's only regulatory-compliant public blockchain, recently launched the Ultra-Large Scale Blockchain Infrastructure Platform for cross-border applications under the Belt and Road Initiative.
On June 12, an open letter filled with commendation was sent to Andrew Chi-Chih Yao by Chinese President Xi Jinping. Yao, chief scientist of the Conflux network and a professor at Tsinghua University, received kudos for his two decades of patriotic service since returning to China. Xi highlighted how Yao has turned his act of patriotism into a mission, borne of love for the nation. Through his commitment to Tsinghua University, the professor has made significant accomplishments in academia and scientific innovation.“In the 20 years since you returned to China to teach, you have turned your patriotism into a journey of serving the country,” Xi penned.
Through his letter, President Xi spurred Yao to keep progressing on his path of "pioneering unique methods for cultivating innovative talent, boosting interdisciplinary and avant-garde innovation, constructing an elite training base for academic and technological advances, and contributing afresh towards a high degree of scientific and technological independence". The president reaffirmed support for Yao's efforts in "establishing a country strong in the fields of education and science and technology".
Conflux is an advanced blockchain or layer-1 blockchain that relies on a combination of proof-of-work and proof-of-stake consensus, and it is managed by the Conflux Foundation, known as the Shanghai Tree-Graph Blockchain Research Institute additionally. Backed by the Shanghai Municipal People's Government, the organization claims to be China's only public blockchain in accordance with regulations.
On April 1, Conflux Network, in association with the Chinese Government, launched an advanced public blockchain infrastructure platform titled "Ultra-Large Scale Blockchain Infrastructure Platform for the Belt and Road Initiative". The new platform aims to provide the infrastructure for cross-border applications. The project's primary focus is the development of a public blockchain infrastructure platform that can support the implementation of cross-border cooperation projects under the Belt and Road Initiative, stated its developers.
Conflux has proven to be an exception in China, a country that has imposed stringent restrictions on cryptocurrency over the recent years. This could possibly be due to its ties with the government. Despite an outright ban on initial coin offerings (ICOs) and cryptocurrency trading, Conflux has a token of its own. At the time of going to press, the token traded at $0.1947 and had a fully diluted market cap of $975 million.
Published At
6/12/2024 7:20:00 PM
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