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Function X: Everything you need to know

FX

Source: CoinMarketCap

Over the years, technology has drastically advanced, and keeping that in mind, sooner or later we could wrap our heads around the fact that, a day will come when physical currencies will be replaced by digital ones. Having said that, cryptocurrency is one such industry that has managed to make this a reality and has made a name for itself on a global level.

Speaking of which, I believe that, most of you present here today are already aware of the basics of the industry but, if for some reason that’s not the case, I think it is best if we talk in brief about that first. Crypto is nothing but a blockchain-based decentralized platform that can be used 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 online.

Using blockchain technology, the said industry is able to record and verify all the transactions that happen over the network, thus significantly reducing the risk of counterfeiting and double-spending. Other than this, being decentralized, the industry is able to step outside the overall control and jurisdiction of central authorities and can work freely without any unnecessary government interference.

In addition to this, this rapid growth that the industry has witnessed over the past couple of years is due to many factors, some of the major ones include its portability, ease of use, convince it offers, high-profit margins, volatility as well as its intuitive nature. Due to these, the crypto world has managed to lure in various potential investors from all across the globe along with a few of them having celebrity status as well like Elon Mail, the CEO of Tesla.

FX

Source: TheCryptoBasic

When the industry was first introduced, there were not many people lining up to be a part of it and frankly, not many currencies were available back then either. On the other hand, looking around today, you will be surprised to see how much the industry has grown recently. The surge in its growth and popularity has further increased the confidence in investors regarding the return on their investment and its safety.

Speaking of a lot of currencies available today in the marketplace, some of the most popular currencies that you can invest in right now includes Cardano, Bitcoin, Binance Coin, Dogecoin, EverGrow Coin as well as Baby Doge to name just a few of course.

Also, it is worth noting that, crypto is a highly uncertain and volatile marketplace and the price fluctuations are almost instant, thus making it really difficult to predict and react on time. Therefore, it is advised for you to be vigilant before investing in the marketplace because as a matter of fact, if the industry is providing investors with an opportunity to earn huge profits, if not done right, you could also end up having significant losses as well.

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)

FX

Source: Medium

Function X or as commonly referred to as FX is nothing but an ecosystem that has been built entirely on and for the blockchain by its developers, Pundi X Labs. Not just that, it is worth noting, the platform has a cross-chain architecture that is said to be based on pBFT as well as PoS. Now, some of you might be wondering, what does cross-chain really mean? If so, allow me a chance to 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.

In addition to this, Function X is known to share its goals with that of Pundi X, which is “allowing crypto for the masses”. Whether it’s for companies as well as blockchain enthusiasts from all across the globe to deploy efficient ecosystems under Function X or allowing people to use cryptocurrencies as easily as buying a bottle of water in the marketplace.

Rather than developing an ecosystem that is able to compete with Ethereum, Function X is one such platform that focuses on leveraging on its strengths, for instance, 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 discussed, while leveraging the existing infrastructure of the popular Ethereum Network, at the same time FX Core is said to provide its users with an environment with cheaper fees along with significantly higher profits.

FX

Source: Medium

Furthermore, you should probably be aware that, 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 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 amongst FX Core and Ethereum. As mentioned previously, FX is nothing but an Ethereum token that is said to power Function X, comprising of a cross-chain protocol, a core blockchain as well as a platform for decentralized applications(DApps). 

Moreover, 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 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, to generate synthetic assets, as collateral along with securing the core network of course. 

Lastly, the second stage of the mainnet launch that happened earlier 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)

FX

Source: NewsroomPost

As of today, the price of Function X is about 1.28 US dollars with a twenty-four-hour trading volume of 163,730,736 dollars. Not just that, in just the past twenty-four hours, the value of Function X has gone up by 9.56 percent, and with the current market cap of 522,229,488 US dollars, FX is currently placed at #158 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 40.76 percent.

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!

FX

Source: Nomics

If still not convinced, see it this way that, if say you buy Function X worth a hundred dollars today, you will receive nearly 77.205 FX. According to the analysis done by experts on the field, after five years of your investment, the return is expected to be about +358.61 percent and thus, your current hundred dollar investment will be nearly 458.61 US dollars in 2026.

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, ZT 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: Omicron: Everything you need to know 

 

 

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