Conflux Foundation will cease operation and maintenance of ShuttleFlow an ecosystem multichain protocol. Ownership of the platform will now be operated and developed by Zero Gravity.
In its place, Web3 studio Zero Gravity will receive the ShuttleFlow technology base and continue developing the protocol under a new moniker.
“All user funds are secure and will be migrated from ShuttleFlow to Zero Gravity,” developers wrote, noting, “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.”
“After ShuttleFlow shuts down its bridging, users can bridge through Zero Gravity’s official dApp or continue using the bridging aggregator, which will integrate Zero Gravity when launched.”
Only by January 2024 a portion of the ShuttleFlow decentralized application (dApp) will remain operational so that users who have bridged assets but have yet to claim them can retrieve their assets. Following that, irrevocable removal will occur of both its website and servers.
To expedite the integration of its ecosystem users into decentralized finance, Conflux introduced the Shuttleflow asset bridge in 2021. At the time, the organization declared that its proof-of-work algorithm enabled a maximum of 6,000 protocol transactions per second.
Conflux Foundation and China Telecom, the second-largest provider in the country with more than 390 million customers, announced a partnership to develop a blockchain SIM card earlier this year.
Layer-1 blockchain Conflux employs a consensus mechanism that combines proof-of-work and proof-of-stake.
The Shanghai Tree-Graph Blockchain Research Institute, its parent organization, receives financial backing from the Shanghai Municipal People’s Government. The project promises to be “China’s only public blockchain that complies with regulatory requirements.”
