Key takeaways:
- The Shanghai Tree-Graph Blockchain Research Institute maintains the ecosystem multichain protocol ShuttleFlow, which will shut down after two years.
- Towards better integrating its ecosystem users into decentralized finance, Conflux introduced the Shuttleflow asset bridge in 2021.
The Shanghai Tree-Graph Blockchain Research Institute, also known as Conflux Foundation, is running and maintaining the ecosystem multichain protocol ShuttleFlow, which it will shut down after two years.
The technological stack of ShuttleFlow will be given to Web3 studio Zero Gravity, who will proceed with the protocol’s development under a new name. According to a blog post published by the project, all user payments are safe and will be transferred from ShuttleFlow to Zero Gravity; additionally:
“Users who have previously bridged through ShuttleFlow and completed the claim of their bridged assets on the destination chain do not need to undergo any additional operations for the migration.”
Users can continue utilizing the bridging aggregator, which will integrate Zero Gravity upon launch, or they can bridge through the official dApp of Zero Gravity when ShuttleFlow shuts down its bridging.
In order to enable users who have bridged assets but have not yet claimed them to get their assets back, the ShuttleFlow decentralized application will continue to function in part until January 2024. The website and servers associated with it will then be permanently deleted.
Towards better integrating its ecosystem users into decentralized finance, Conflux introduced the Shuttleflow asset bridge in 2021. Six thousand protocol transactions per second were possible, according to the company’s claim regarding their proof-of-work algorithm.
The second-largest telecom company in the nation, China Telecom, has over 390 million members. The Conflux Foundation revealed earlier this year that it would be working with them to build a blockchain SIM card.
Layer-1 blockchain Conflux uses a hybrid consensus mechanism that combines proof-of-work and proof-of-stake. The Shanghai Municipal People’s Government provides funding for its parent organization, the Shanghai Tree-Graph Blockchain Research Institute. The initiative bills itself as China’s “only regulatory-compliant public blockchain.”
