What is the difference between CFD and CFX?

Could you please explain to me the key distinctions between CFD and CFX? I'm particularly interested in understanding their operational mechanisms, as well as the risks and potential benefits associated with each. Additionally, it would be helpful if you could elaborate on their respective use cases in the cryptocurrency and finance industries. How do investors typically approach these two options, and what factors should they consider when making a decision? Thank you for your clarification.