Conflux (CFX), known as China’s MATIC, announced its EVM compatible Bitcoin Layer 2 solution.
“Conflux Network is making an exciting strategic move by introducing an EVM compatible Bitcoin Layer 2 solution.
By leveraging the power of Bitcoin and seamlessly integrating it into our network with forward-thinking features such as PoS-based staking capabilities, our network offers users more channels to interact with decentralized applications built on top of the platform, which is important towards achieving greater interoperability. “He’s taking a step forward.”
Big news! Introducing the new frontier of Conflux: a fully EVM-compatible space, powered by BTC!
🚀 Conflux is launching an EVM-compatible Bitcoin Layer 2.
💰 BTC will be the native currency for gas fee calculations.
🌉 Bridge diverse asset types from the Bitcoin blockchain…— Conflux Network Official (@Conflux_Network) January 18, 2024
In his statement, Conflux stated that BTC will be the local currency in gas fee calculations, and that it can be effortlessly bridged between various types of assets on the Bitcoin blockchain.
Following the news, CFX started to rise and increased by approximately 10%.
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/chinas-popular-altcoin-announced-its-new-feature-there-was-a-sudden-rise-in-price/