Blockchain technology reshapes global finance by enabling secure on-chain retail payments and facilitating direct trading of cryptocurrency and stock-based perpetual derivatives. This approach enhances efficiency, eliminates intermediaries, and ensures transparency in transactions. By integrating traditional finance with decentralized solutions, it provides new opportunities for global users to access and leverage blockchain-based financial tools. Function X is a platform dedicated to advancing blockchain adoption and creating seamless, efficient solutions for modern financial challenges.

What is Function X (FX)?

Function X, founded by Zac Cheah and Pitt Huang in 2018, aims to create a decentralized internet ecosystem. Cheah, with a background in computer science and blockchain, envisioned a scalable and interoperable network. Huang, possessing expertise in system architecture and blockchain technology, contributed to the development of Function X’s multi-chain architecture, enabling the creation of customized subnets for diverse applications.

Function X has made significant strides in its development. The roadmap highlights key achievements such as the f(x) Connect Beta, XPOS by Pren, and the Function X Cloud. The platform’s focus on decentralization is evident through initiatives like the decentralized XPOS design, instant settlement, and robust tokenomics. The upcoming launch of the Function X mainnet and Ethereum 2.0 Layer 2 integration are anticipated milestones that reflect the project’s innovative trajectory.

Function X’s commitment to fostering innovation is demonstrated by the launch of four cohorts of the OCX accelerator, supporting projects within the ecosystem. Zac Cheah’s educational background and experience in the tech industry, including roles at Google and Opera Software, further solidify his credentials as a leader in the blockchain space, enhancing the credibility and vision of the Function X project.

On July 25, 2024, the Function X — Pundi X Chain Merger was announced, rebranding the ecosystem under “Pundi AIFX.” This streamlined both platforms into a unified chain, reducing FX supply by a factor of 100 while maintaining value.

How Does Function X Work? Architecture and Systems

Function X’s architecture is built on a multi-chain framework for adaptability, scalability, and interoperability. At its core is the Function X chain, a decentralized blockchain utilizing the Practical Byzantine Fault Tolerance (PBFT) consensus mechanism. PBFT ensures high throughput and secure transactions, addressing challenges like scalability and latency. This blockchain structure supports subnets, customizable private or public chains tailored for specific business needs, providing flexibility for developers and enterprises. These subnets allow Function X to address diverse use cases, from simple financial applications to complex decentralized infrastructures, without compromising on performance or security.

Source: functionx.io

The Function X ecosystem integrates various technologies, such as the f(x) OS, a blockchain-compatible operating system enabling seamless interaction between decentralized and traditional systems. This OS works on ARM architecture, ensuring compatibility with smartphones, smart TVs, and tablets. Additionally, Function X leverages the Node Name System (NNS), a decentralized alternative to traditional domain name systems, granting devices unique identities within the ecosystem.

Function X’s architecture prioritizes interoperability by allowing assets and data to move seamlessly across its chains and subnets. Developers can build on this infrastructure with tools like the Decentralized Docker (f(x) DDocker), enabling the creation and deployment of decentralized applications in a secure and distributed environment. This design addresses the fragmented nature of blockchain networks and ensures a robust foundation for future expansion.

Systems

The systems within the Function X ecosystem enable seamless interaction between users, developers, and enterprises. The core system is the f(x) Chain, a decentralized ledger that facilitates secure and efficient financial transactions, including payments, data transfers, and decentralized applications (DApps). This chain is augmented by tools like the f(x) OS, which bridges blockchain and traditional modes, ensuring every bit of data is encrypted and decentralized during blockchain operations.

Function X employs several protocols to enhance functionality and security. The f(x) FXTP protocol, for example, redefines how data is sent, received, and displayed, offering a consensus-driven, end-to-end transmission that surpasses traditional HTTP protocols. Similarly, the f(x) IPFS protocol decentralizes data storage, ensuring faster file transfer and high security. These protocols enable the Function X ecosystem to maintain efficiency, security, and decentralization across all operations.

Source: functionx.io

A highlight of Function X’s systems is its focus on decentralized finance (DeFi). It supports on-chain retail payments and facilitates trading perpetual contracts for cryptocurrency and stock-based derivatives. With global applicability, these features enable real-time transactions and instant settlements, broadening the scope of DeFi for users worldwide. This is complemented by the platform’s integration with existing infrastructure like XPOS devices, which seamlessly transition into the blockchain ecosystem to support decentralized transactions.

Function X’s systems are designed for robust scalability and innovation, ensuring that users, developers, and enterprises benefit from decentralized technology without facing traditional bottlenecks. By integrating blockchain-specific tools with practical applications, Function X enhances usability and accessibility in the decentralized era.

Function X Use Cases

Function X presents a wide array of use cases, leveraging blockchain with the aim of revolutionizing traditional systems and creating new possibilities for users and businesses. Its decentralized architecture and tools like f(x) IPFS and NNS enable seamless integration and improved efficiency across industries.

• Sharing Economy: By decentralizing service provision, Function X empowers users to control their data and interactions, removing intermediaries. For example, its decentralized ride-hailing DApp demonstrated how blockchain can transform industries by returning control to users and enabling peer-to-peer connections.
• Free Naming System (NNS): Function X offers a blockchain-based alternative to traditional domain name systems, allowing users to create unique device identifiers. NNS supports diverse applications, enabling seamless identification and mapping of Function X hardware, such as XPhones, in a decentralized network.
• Decentralized File Storage: Function X leverages its XPOS and f(x) IPFS to create a decentralized file storage ecosystem, enabling users to monetize unused hardware space. By securely storing and retrieving data, it reduces costs and decentralizes file management, providing a robust alternative to traditional storage systems.
• Decentralized Payments: Function X facilitates seamless global retail payments through its blockchain-based payment system. Transactions occur on-chain, reducing processing fees and enhancing privacy. The system supports cryptocurrency payments and offers instant settlements, making it an efficient tool for businesses and consumers alike.

Function X Main Features

Function X aims to bring a revolutionary approach to blockchain ecosystems by offering unique tools that empower users to manage assets, transfer funds, and ensure high security through a decentralized infrastructure.

f(x)Core Governance

Function X’s governance model allows participants to contribute to the network’s evolution actively. Through the f(x)Wallet, users can bond FX tokens to validators, enabling them to vote on proposals and help secure the network. This participatory system enhances decentralization while giving users a tangible say in the platform’s future. Features like token redelegation provide flexibility, ensuring users can realign their voting power as needed. By incorporating these democratic tools, Function X strengthens its commitment to community-led decision-making and network security, setting a standard for decentralized governance.

Digital Asset Management

With the f(x)Wallet, users can trade cryptocurrencies like ETH and ERC-20 tokens directly from their wallets. By leveraging the 0x API, Function X ensures the best prices and minimal slippage through smart routing across decentralized exchanges. This peer-to-peer mechanism offers users full custody of their assets throughout the transaction process, eliminating the need for third-party intermediaries. The platform also provides advanced settings for customizing slippage tolerances and displays fees transparently. Function X’s innovative approach redefines digital asset management, making trading faster, safer, and more cost-efficient.

Transfer & Receive

Function X offers seamless transfer options, including cross-chain transactions and crypto gifting, designed to revolutionize how users interact with digital assets. The f(x)Wallet enables users to send assets across blockchains with minimal effort, facilitating interoperability in a multi-chain world. Additionally, the Crypto Gift feature allows users to send tokens with personalized messages, combining blockchain technology with a touch of human connection. These innovative features ensure that users experience secure, efficient, and intuitive methods for transferring assets, simplifying complex transactions, and making blockchain technology more accessible to novice and experienced users.

Security

Function X ensures robust security through its non-custodial f(x)Wallet, which generates a 24-word recovery phrase for exclusive user access. This decentralized model eliminates third-party control over funds, reinforcing user sovereignty and minimizing risks. Additional safeguards, such as two-factor authentication and physical backups for recovery phrases, further enhance security and resilience against potential breaches. The multi-layered architecture effectively mitigates vulnerabilities while maintaining user control, offering peace of mind for managing digital assets. Function X’s security-first approach sets a high benchmark in decentralized finance, establishing trust and reliability for its global user base.

Function X Products

Function X introduces products designed to empower users in trading, asset management, and decentralized payments, Function X is leading the charge in simplifying blockchain technology for everyday use.

MarginX

MarginX is a decentralized perpetual exchange combining Automated Market Maker (AMM) functionality with a Central Limit Order Book (CLOB) system. It empowers traders with unparalleled liquidity and flexibility, offering the best prices for exotic perpetual markets. Liquidity providers earn rewards through trading, liquidation, and funding fees, while mitigating risks via the Automated Limit Order (ALO) system, which optimizes order book depth and balances risk-to-reward ratios. MarginX caters to diverse stakeholders, including traders seeking cost-effective perpetual markets and project teams aiming to bolster liquidity. This blend of innovation ensures dynamic and rewarding trading environments within the decentralized financial ecosystem.

Source: marginx.io

p(x)Card

The p(x)Card is a revolutionary self-custody hardware wallet that supports multi-chain networks, including Ethereum, BNB Smart Chain, and Function X. Built using Infineon’s SECORA™ Blockchain security solution, it secures private keys offline while enabling seamless transactions via NFC technology. The p(x)Card is versatile, serving as a cold wallet and payment tool on the XPOS platform in over 30 countries. Users can mint NFTs, top-up cryptocurrency, or manage assets through the accompanying app, all with industry-leading security. With its ease of use and DePIN-enabled functionality, the p(x)Card represents a groundbreaking leap in blockchain accessibility.

Source: pxcard.io

Safe Wallet

Safe Wallet is a decentralized custody protocol offering stealth security and collective asset management. Its modular and customizable design allows users to confidently manage digital assets, employing multi-signer authentication and access to over 130 ecosystem apps. This trusted platform elevates ownership by ensuring seamless integration with decentralized applications, delivering security and flexibility for individuals and organizations. With Safe Wallet, users gain control over their assets while benefiting from an ecosystem that prioritizes privacy, transparency, and adaptability.

Source: safe.functionx.io

What is the FX Coin?

FX Coin powers the Function X ecosystem, enabling decentralized transactions, governance, and cross-chain interoperability. Its maximum supply is capped at 1.89 billion units, of which 408.52 million are already in circulation (December 2024).

The FX Coin is the native currency of the Function X ecosystem, designed to facilitate a wide range of services within its decentralized blockchain environment. FX Coin fuels transactions, enabling payments for decentralized applications, data storage, code hosting, financial services, and more. Its utility extends to consumers, developers, and infrastructure providers, forming a robust tokenomics system.

The coin operates on a Proof of Service (PoS) concept, rewarding service providers based on quality contributions to the ecosystem, such as decentralized hosting and financial services. Initially, 20% of FX’s maximum supply was allocated during its Token Generation Event, while the remaining 80% will be gradually distributed over 15 years. This model promotes long-term sustainability and incentivizes active participation.

The decentralized nature of FX ensures security and autonomy, with all transactions executed and validated on-chain. FX Coin plays an important role in supporting Function X’s mission of decentralization, offering seamless utility in cross-border transactions, smart contracts, and decentralized finance (DeFi) applications. It is the backbone of a decentralized economy, driving innovation and interaction across its multi-chain ecosystem.

The FX Coin’s token allocation dedicates 65% to NPXS/NPXSXEM holders, 20% to the Ecosystem Genesis Fund, 10% for engineering, and 5% for product and marketing. This distribution supports development, incentivizes adoption, and ensures sustainable ecosystem growth.

Is FX a Good Investment?

The FX Coin shows promise due to its comprehensive ecosystem, supporting decentralized applications, cross-chain transactions, and governance, highlighting its utility and scalability. Its Proof of Service model encourages network participation and rewards service providers, fostering ecosystem growth. However, its success heavily depends on widespread adoption and the ability to attract and retain users and developers in a competitive blockchain landscape. Limited awareness or underutilization of its features could hinder its growth potential in the long term.

How to Own FX?

To own FX, you can use the services of a centralized crypto exchange. Start by creating a Gate.io account and get it verified and funded. Then, you are ready to go through the steps to buy FX.

News on Function X

As reported on December 11, 2024, via Medium, the FX token is now live on Squid Router, leveraging Axelar Network to enable seamless bridging between Ethereum and Base, Coinbase’s Layer 2 blockchain. This integration enhances interoperability, allowing FX holders to transfer assets effortlessly, explore DeFi opportunities, and access a broader range of dApps. Marking a pivotal milestone for the Pundi AI ecosystem, this collaboration underscores its commitment to decentralization and innovation in blockchain technology.

Take Action on FX

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