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Everything to know about Function X!

Source: YouTube

For a long time now, we have been surrounded by virtual currencies and the rate at which their use cases in day-to-day life are increasing is something that was never really anticipated one of the major contributors to this huge success is the cryptocurrency industry.

The crypto world has been more than successful in luring in potential investors from all across the globe and has managed to make a name for itself in the global marketplace as well. Not just that, the said industry has had a surge in its overall growth and popularity recently, thus helping it to reach greater heights!

Having said that, I believe, most of you are already familiar with the basics of the industry but, if for some reason that is still not the case, let me help you with that first.

To begin with, cryptocurrencies as the name suggests are nothing but a form of online or digital currencies that can easily be made use of for a variety of purposes including the purchase and sale of goods and services as well as for the purpose of trade and exchange over cryptocurrency exchanges available over the web.

In technical terminology, cryptocurrency is a blockchain-based platform that is known to be decentralized to its very core. Being decentralized, the crypto world becomes more than capable of stepping outside the overall control and jurisdiction of central authorities and can work freely without any unnecessary government interferences as well.

In addition to this, when the industry was first introduced there were not many currencies to choose from and honestly, not many people were looking to be a part of it either as people back then were very skeptical with respect to the return on investments they could expect as well as the safety of their money too.

On the contrary, looking around today, it feels almost unreal to see how far the industry has managed to come, having pools of currencies available today for investors to choose from, with newer ones coming in with each passing day and tons of new investors joining in every hour.

Source: TechStory

Speaking of a lot of currencies available today in the marketplace, some of the most popular ones worth investing in includes Ethereum, Polkadot, Binance Coin, Bitcoin, PancakeSwap, and Dogecoin, Cardano, EverGrow Coin as well as Baby Doge to name just a few of course.

Also, it is worth noting that, some of the major contributing factors to this extraordinary success of the industry include its negligible response time, the convenience it offers, ease of use, portability, intuitive nature, high-profit margins, real-time updates as well as the volatility of course.

Being volatile, it is important for you to be aware of the fact that, it is not always possible to predict the price changes and act accordingly as the price fluctuations in the crypto marketplace are almost immediate, thus leaving no time to plan. Therefore, whenever dealing in online currencies, keep in mind that, if the industry is providing you with an opportunity to earn huge profits and make quick money, if not done right, you could also end up having significantly huge losses as well.

Not just that, as per the chatter amongst some of the leading experts in the field, it has come to our notice that, crypto is rapidly progressing towards completely revolutionizing the global payment system and from where I stand, it looks like it has already started to do so as many merchants and businesses have started accepting crypto as an official mode of payment from their customers.

Now that you have a brief backstory about the crypto world, you will be able to have a much better understanding of what we have with us today, Function X. To know more, I suggest you read further!

Everything to know about Function X (FX)

Source: Medium

Function X or as commonly referred to as FX is nothing but simply an ecosystem of sorts that has been developed entirely on and for the blockchain by its developers, Pundi X Labs. In addition to this, the platform is said to have a cross-chain architecture that is known to be based on PoS as well as pBFT.

Having said that, I believe some of you must be wondering as to what really a cross-chain is? If so, let me explain. Cross-chain, as the name suggests, is something that allows multiple chains to be a part of the said platform and as a matter of fact, by integrating several blockchain ecosystems including Ethereum and others, Function X is designed such that, it will be able to increase the overall liquidity as well as the value of virtual assets that have been created on the network.

Not just that, the said platform is also said to be sharing its so-called goal with that of Pundi X, which is simply “allowing cryptocurrency for masses”. Whether it is allowing people to make use of cryptocurrencies as easily as buying a bottle of water in the marketplace to deploying efficient ecosystems under Function X for companies and blockchain enthusiasts.

Moreover, it is worth noting that, rather than actually indulging in the development of an ecosystem that is able to compete with the popular Ethereum network, Function X is seen as a platform that aims to leveraging on its strengths like by connecting to Ethereum smart contracts, providing asset aggregation contracts as well as generating interest in both or more chains and that too at the very same time.

As mentioned previously, while leveraging the existing infrastructure of the popular Ethereum Network, FX Core is capable of simultaneously providing its users with an environment with cheaper fees along with significantly higher profits of course.

Source: Medium

Also, the mainnet of the platform has been launched a few months back, with the help of which, FX holders will be able to bridge their Function X tokens in ERC-20 to the FX Core through the FX wallet. Also, note that FX is available on Ethereum since 2019 and in Function X since 2021.

As a result of this, FX could easily be utilized on both FX core as well as Ethereum and the currency will be the very first virtual asset to be transferable between FX Core and Ethereum. As mentioned previously, FX is nothing but an Ethereum token that is said to power Function Xcomprising of a cross-chain protocol, a core blockchain as well as a platform for decentralized applications (DApps). 

Not to mention, FX being the native utility token of the currency can be used for a variety of purposes on the platform itself. Some of the major use cases of FX include it being used for making payments for services like data storage as well as smart contract creation, for staking on the network, and for voting for network upgrades.

On a similar note, it is worth mentioning that, apart from being the governance token for the Function X project, users may also use the said token to vote, and generate synthetic assets, as collateral along with securing the core network of course.

As per reports, the second stage of the mainnet launch that happened previously was to run XPOS devices on the FX core, thus giving the Function X mainnet several real-world use cases. Also, Pundi X is known to be utilizing the custom chain that has been built on the Function X network to verify real-world transactions like payments for a bottle of water made using XPOS devices and more. Speaking of XPOS, it will be able to provide financial services and tools on the Function X network.

Now that we have talked much about Function X, some of you must be wondering, whether or not it is a good idea to invest in the platform? If that’s the case, then let’s find out, shall we?

Investing in Function X (FX)

Source: SwapSpace

As of today, the price of Function X is about 0.301400 US dollars with a twenty-four-hour trading volume of 41,462,681 dollars. Not just that, in just the past twenty-four hours, the value of Function X has gone up by 57.92 percent, and with the current market cap of 123,128,106 US dollars, FX is currently placed at #162 position as per the CoinMarketCap rankings.

Also, it is worth mentioning that, the current circulating supply of Function X is nearly 408,520,357 FX coins with a maximum lifetime supply of about 1,893,022,625 FX coins. In just the past week alone, the price of the platform has gone uphill by 109.05percent.

Reading so far, you must have gotten a fair understanding of the platform and by now, you should be able to figure out on your own whether or not investing in Function X is the right thing for you to do. Seeing what it has to offer when combined with its performance in the recent past as well as its plans for the near future, I certainly believe that Function X can prove to be a profitable investment in the near future, which is likely to provide you with higher returns and it is a possibility that your current investment may increase in value. But again, nothing can be said for sure!

Source: NewsroomPost

If still not convinced, see it this way that, if say you buy Function X worth a hundred dollars today, you will receive nearly 333.695 FX. According to the analysis done by experts in the field, after five years of your investment, the return is expected to be about +322.33 percent and thus, your current hundred dollar investment will be nearly 422.33 US dollars in 2027.

As mentioned at the very beginning, crypto is a highly volatile marketplace and is extremely uncertain. Thus, It is very important for you to understand the fact that just like any other currency in the crypto marketplace, Function X does have its own risks as well and you should invest only if you are willing to take those risks and bear any and all losses if at all necessary.

If you are wondering, where can you buy Function X? Let me help you with that. Currently, Function X is available on all major crypto exchanges but, some of the popular exchanges that have FX listed on them include KuCoin, Coinbase Exchange, Gate.io, Huobi Global as well as Upbit to name a few. 

In conclusion, what are your thoughts on Function X? Do let us know in the comments below. To know more about various cryptocurrencies, do check out other articles we have on our website. Thank you for your time & if you found our content informative, do share it with your investor friends!

Also read: The rise of Khaby Lame: From factory worker to the most followed person on TikTok

 

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