Conflux surges 134% following partnership to develop blockchain SIM cards

Conflux Network (CFX) surges 134% over the last 24 hours to $0.14460 at the time of writing, according to of crypto slate data.

The price spike comes after Conflux Network partnered with China Telecom, China’s second largest wireless carrier, on February 15 to develop a blockchain-enabled SIM card (BSIM).

What is a blockchain SIM card?

According to Conflux Network, the BSIM manages and stores a user’s public and private keys on the card and performs digital signatures to prevent the private key from leaving the card.

The BSIM card integrates Conflux’s Treegraph, Dual Proof of Stake, and Proof of Work technologies to deliver the best system performance on any blockchain in the world.

This technology is designed to make mobile phones the key to entering the Web3 and metaverse. crypto slate.

According to a press release, the BSIM pilot program will launch in Hong Kong later this year, with other pilot programs in Shanghai and elsewhere.

Conflux Gains Momentum in China

On the other hand, this is not the first partnership Conflux has acquired from the Asian country.

Chinese app Little Red Book has integrated a blockchain network to allow users to create non-fungible tokens (NFTs) that they can display on their profile pages.

CFX is one of the best performing digital assets this year. The foundation of the project is burnt Close to 500 million CFX tokens to keep inflation down.

The token is up 129% in the last 7 days and 381% in the last 30 days, according to. crypto slate data.

Journalist at CryptoSlate

Oluwapelumi believes in the transformative power of Bitcoin and the blockchain industry.