The Function X platform is an entire ecosystem that was developed to serve the developers in the world of blockchain technology. Additionally, the system is also credited as a cross-chain platform that according to the network is based on a pBFT and a pos.
Given that cross-chain technology isn’t completely mainstream in the world, most people are still oblivious about its protocols. The system allows a series of chains to be attached to a particular platform. Additionally, the platform integrates a series of blockchain ecosystems, among which includes the Ethereum network and others. The Function X system is also designed in such a way that it will individually be able to increase its liquidity on a grand scale while its value of virtual assets is also created on the network.
The use of blockchain technology has opened the industry to the ability to record and verify all the transactions being executed on the network, this process also limits the risk of double-spending and counterfeit. Apart from this, the industry is also able to evade overall control and problems of jurisdiction through its decentralized protocols, allowing the system to be able to freely operate without any government interference.
Who are the Founders of Function X (FX)?
The Function X platform was founded by Zac Cheah and is a well-respected professional in the application of blockchain technology to bring about solutions to real-life problems.
Cheah is a well-educated professional with degrees in several fields. His first degree was from the Singapore Management University in accounting and finance, later he went on to the multimedia university and obtained a degree in computer data communications. Shortly after he decided to pursue a master’s degree in computing at the Kungliga Tekniska högskolan. He also gained an additional master’s degree in security and mobile computing Norges teknisk-naturvitenskapelige universitet (NTNU).
After gaining his education, he went on to serve at Google as an intern, before landing a job at Opera Software as the Chief Standards Officer, Opera China. He moved on to the Chair of Interest Group and worked as the chief of W3C. From 2013, Cheah became a serial entrepreneur and founded various companies which include the Wozlla platform and Pundi X.
What is Function X (FX) used for?
While the world of blockchain technology and its application is rapidly growing, the industry has been able to trace this growth back to certain specific features one of which includes the level of profitability the platform provides for the users and its ease of use, as well as it’s volatility giving it an open market value. Because of these factors, the world of cryptocurrency has intrigued and attracted many potential investors from all over the world with only a handful of them being famous such as Elon Musk, Tesla CEO.
These factors directly relate to the Function X platform as it allows for the execution of seamless transactions within the network which provides a profit-making avenue for its users and interested parties. These tokens also provide an exchange quality with other pairs such as Terra and Polygon that can earn the participants money on the side.
What Is the Unique Point of Function X (FX)?
As someone with a little knowledge of the crypto space, you should understand that the mainnet is one of the integral parts of any cryptocurrency and the Function X platform launched its own a while back. With the launch of its mainnet, users of the network will be provided with an avenue for their FX tokens to be bridged in the Ethereum blockchain to the FX core via the FX wallet. Furthermore, it’s worth mentioning that the FX token has been available on the Ethereum blockchain since 2019 and the Function X later in 2021.
Due to this, the token could easily be used on both the FX core and the Ethereum. It also implies that the currency will stand as the first virtual asset that has the quality of being tradable among FX core and Ethereum. As previously mentioned, the FX token is essentially an Ethereum based token and powers the functioning of the entire Function X ecosystem which is composed of a blockchain, cross-chain protocols, and engines for decentralized applications.
How many Function X (FX) coins are in circulation?
While the FX token serves as the dedicated governance token for the Function X ecosystem, the users of the network can also use the token to cast votes, as well as generate a collection of synthetic assets to serve as collateral along with making sure the core network is also kept running.
Presently, the Function X dedicated token has a circulating supply of around 408,520,357 FX coins and also has a lifetime maximum supply pegged at 1,893,022,625 FX.
Is the Function X (FX) Network secured?
The Function X system is secured by a Practical Byzantine Fault Tolerance, a consensus algorithm that was created and optimized for low overhead time. The main job of the Practical Byzantine Fault Tolerance algorithm is to provide stability on the blockchain even when they are unavailable or respond with the wrong statements. This process essentially eliminated the influence faulty nodes have on the network in the grand scheme of things.
As an ERC-20 based token, the platform also has an I ate proof of stake security process which also requires the agreement of the nodes, and the power to make decisions on the network is tied to the stake amount of each individual.
How do I buy Function X (FX)?
The Function X token is special because it is a composition of a core blockchain, a system for decentralized applications, and a cross-chain protocol. While the cryptocurrency itself has a major use case, its token used to transact on the network also gains value from its use. Presently, the FX token is listed on a lot of exchanges, which has made it more available and improved its liquidity. To become a part of the network, you can follow the steps below.
● First thing is to have a crypto trading account.
● Transfer the number of tokens to be bought to the crypto trading account from a fiat account.
● Wait for the confirmation of funds receipt and then buy your FT tokens.
Which Cryptocurrency Wallet Supports Function X (FX)?
The PTPWallet platform supports many cryptocurrencies simultaneously such as Function X (FX). Because of its vast use case, it has grown to become one of the most used platforms as it serves as an exchange and an engine to discover other cryptocurrencies. Additionally, users can easily use PTPWallet as their Function X wallet because it offers a simple and interactive interface making it easy for people to navigate its system.