Function X will be leading the charge to power this new era of decentralized world. Every app, image, data, bit and byte on the internet will be decentralized.
Dawn of the decentralized internet
Over the past 20 years, the internet and information services have greatly improved the efficiency of socioeconomic operations, but inevitably produced a large number of monopolistic private organizations due to their highly centralized structure and operations. However, the next 20 years will see the birth of the next phase of the internet and social movements evolving away from the current monopolistic model. The vision of Function X through its innovations is to empower this next phase of the internet, to better the efficiency of the current conventional level and create an environment that is secure, fully decentralized and free of monopolization.
2009-2018: The initial stage of blockchain
Over the past 10 years, the emergence of Bitcoin and other blockchain technologies have paved new ways, transforming the previously centralized mechanisms and monetary systems into a new system where all participants can have equal rights. And as more participants join the new system, the more stable it becomes. This results in a currency issuance, circulation, and ownership that are fair, robust, and anonymous; something that does not exist in the centralized ecosystem. And the benefits of this new system via blockchain technology has provided the inspiration to the team behind Function X.
2018: The birth of Function X
In 2017, the Pundi X team began investigating the underlying factors preventing and inhibiting the successful offline circulation of cryptocurrency in the society. Since then, there has been a growing desire to completely overhaul the system to become 100% decentralized. We are proud to say that we have achieved that in the form of Function X, f(x).
Function X is a next-generation internet service framework. We have created a completely new ecosystem of service framework by improving the existing internet and blockchain architecture, combining the benefits of both worlds and using the most commonly used technical solutions. We have employed a systematic approach towards software/hardware codesign, to allow all existing applications, websites, data and services to be completely decentralized, helping to lay a solid foundation for future development paths of the next generation internet.
2019: The dawn of a new era
Although this has been a huge undertaking, the f(x) team has made a lot of progress in terms of hardware, operating system, basic services, blockchain public chain optimizations. These were exemplified by a series of public demonstrations showing the progress of f(x) products. 2019 will be the dawn of a new era; decentralization of the Internet.
World's 1st Blockchain Phone
Setting the stage for the next 10 years
The social media platforms we use are fully decentralized, i.e. we maintain ownership and custody of our own data. No organization can have a direct influence on how we use our own data. For instance, we can use a decentralized food delivery app (DApp A) to order food from a restaurant that advertises on another decentralized app (DApp B). This is possible because the data and orders are intrinsically recorded on the public chain, rather than on any particular DApp. As data is being fetched from the FXTP when accessing a web page, no one entity can exert authority over what can or cannot be seen. This way, developers can directly compete with any large enterprises or business entities, which may subsequently lead to the smaller and more efficient businesses in the future. Also, large enterprises will evolve, change and may not be as dominant in this decentralized environment. And internet giants may be a thing of the past.
The f(x) ecosystem is fully decentralized. It’s designed and built to run autonomously in perpetuity without the reliance or supervision of any individual or organization. To support this autonomous structure, f(x) Coin which is the underlying ‘currency’ within the f(x) ecosystem has to be decentralized in terms of its distribution, allocation, control, circulation and the way it’s being generated.
Broadly, there are four main participants in the f(x) ecosystem, as shown above:
Consumer: Users enjoy the decentralized service provided by the f(x) ecosystem
Infrastructure Service Provider: Providing infrastructure service like the ones provided by mobile carrier, Amazon AWS but in a decentralized way.
Developer: Building DApp upon f(x) network like Uber, AirBnb, Alibaba.
Financial Service Provider: Providing liquidity of f(x) coin like NASDAQ, Morgan Stanley.
Infrastructure service provider, Developer and Financial service provider contribute the seamless operation and service shall generate the positive circulation, innovation and value flow to the f(x) ecosystem.
The Utility of f(x) Coin
f(x) Token Allocation & Mechanism
We believe great blockchain projects attempt to equitably balance the interests of different segments of the community. We hope to motivate holders by allocating a total of 65% of tokens from the Token Generation Event (TGE). Another 20% is being used for the Ecosystem Genesis Fund for developer partnerships, exchanges and others. The remaining 15% will go to engineering, product development and marketing. There will be no public or private sales for f(x) tokens.
NPXS / NPXSXEM is used to make crypto payments as easy as buying bottled water, while f(x) is used for the operation of a decentralized ecosystem and blockchain, consisting of DApps and other services. NPXS / NPXSXEM will continue to take the same functionality and purpose as it is after the migration to Function X blockchain in the future. Therefore, each token will be expected to assume different fundamental roles and grant different rights to the holders.
65% of allocation for NPXS / NPXSXEM holders are broken down into the below:
15% is used to stake for f(x) tokens. (see below)
45% is used to convert for f(x) tokens. (see below)
5% is used for extra bonus tasks over the last 12 months (allocation TBD).
Powered by Function X
Introducing the XPhone, the world's first true blockchain phone that is secure and decentralized to the core. It is powered by Function X, an ecosystem that is built entirely on the blockchain. Unlike traditional phones, you will no longer require a centralized service provider to call, message, browse the internet or access app services. The blockchain mode enabled by Function X allows your data to be kept encrypted and secure.
Moreover, the XPhone is backward compatible with Android. Switch between blockchain and traditional mode on the fly to access your favorite Android apps. Only 5,000 XPhones will be produced and released to the world in late 2019. We look to partner with hardware and phone manufacturers to build their own version of the blockchain phone powered by Function X.
Instead of racing towards the next 5G, 6G or 7G, we seek to create a world where you have complete control over how your data is used.