Conflux Network has announced its plans to introduce an EVM-compatible Layer 2 solution, aiming to boost decentralized finance (DeFi) participation and enhance transaction efficiency. The Layer 2 platform is scheduled to roll out its testnet by March and expects the mainnet to be live in May.The upcoming solution is set to use BTC for transaction fees and will support both BRC-20 tokens and Bitcoin inscriptions, expanding the utility of the Bitcoin blockchain. Following the announcement on Thursday, the native token of Conflux Network, CFX, experienced an 8% surge in price, reaching $0.2203. The Layer 2 solution will function within a Proof of Stake (PoS) consensus protocol.
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