The use of the internet has given birth to a blockchain system process. This system allows users to send and receive data safely of all kinds, through a new transmission protocol. Users will be able to share data in the same way as they do online securely via the blockchain, while developers can quickly and easily publish decentralized applications via FXTP.
Blockchain technology also has a large impact on the development of large companies. One of these big projects is called the x function. The main idea of f (x) blockchain is to produce a number of f (x) Coins (reduced every year) per second to various service provider segments. In the first year, for example, the f (x) blockchain will generate 3.5 f (x) Coins per second and will be distributed among infrastructure service providers through the Proof of Service concept.
Funtion X : The Internet was just the beginning
The advent of the Internet has revolutionized the world. It created a communications layer so robust that it has resulted in TCP/IP becoming the network standard.
The Internet also created a wealth of information so disruptive that a company like Amazon threatened to wipe out all the traditional brick-and-mortar bookstores. These bookstores were forced to either adapt or perish. The same applies to the news publishing sector: the offerings of Google and Facebook have caused the near extinction of traditional newspapers.
The digitalization of the world with the Internet has enabled tech behemoths like Apple, Amazon, Google and Facebook to dominate and rule over traditional companies. The grip of these tech giants is so extensive that it makes you wonder if thechoices you make are truly your own or influenced by the data they have on you as a user.
We see the blockchain revolution happening in three phases. The first was how Bitcoin showed the world what digital currency is. The second refers to how Ethereum has provided a platform to build decentralized assets easily. The clearest use case of that has come in the form of the thousands of altcoins seen today that we all are familiar with. The third phase is what many blockchain companies are trying to do now: 1) to bring the performance of blockchain to a whole new level (transaction speed, throughput, sharding, etc.) and 2) to change the course of traditional industries and platforms — including the Internet and user dynamics.
Decentralized Network f(x) coin ecosystem
The aim of f(x) ecosystem is to create a decentralized network that does not rely on any individual, organization and structure. f(x) will run autonomously. f(x) Coin will be the lubricator and connector to facilitate the operation of f(x) ecosystem with various utilization scenarios. In this article, we will focus more on the how the service providers can be motivated and grow in the f(x) ecosystem.
Service providers play a critical role in developing the f(x) ecosystem. Hence, a tipping jar (the concept is similar to mining) is set up to motivate and facilitate “miners” from other platforms to shift to the f(x) ecosystem and become part of the f(x) infrastructure service providers as well as encourage new service providers to take shape and offer their services to further develop the f(x) ecosystem.
The Blockchain revolution will be the biggest digital revolution
In order to displace an incumbent technology withsomething new, we believe the change and improvement which the new technology has to bring will have to be at least a tenfold improvement on all aspects including speed, transparency, scalability and governance (consensus). We are excited to say that the time for this 10-times change is here. It’s time to take it up 10x with Function X.Function X or f(x) is an ecosystem built entirely on and for the blockchain. Everything in f(x) (including the application source code, transmission protocol and hardware) is completely decentralized and secure. Every bit and byte in f(x) is part of the blockchain.
Using the Function X Ecosystem (namely Function X FXTP), the transmission of data runs on a complex exchange of public and private key data and encryption but never through a centralized intermediary. Hence it guarantees communication without interception and gives users direct access to the data shared by others. Any information that is sent or transacted over the Function X Blockchain will also be recorded on the chain and fully protected by encryption so the owner/sender has control over data sharing. And that is how a decentralized system for communications works.
For developers and users transitioning to the Function X platform, it will be a relatively seamless process. We have intentionally designed the process of creating and publishing new decentralized applications (DApps) on Function X to be easy, such that the knowledge and experience from developing and using Android will be transferable. With that in mind, a single line of code in most traditional apps can be modified, and developers can have their transmission protocol moved from the traditional HTTP mode (centralized) to a decentralized mode, thus making the transmission “ownerless” because data can transmit through the network of nodes without being blocked by third parties. How services can be ported easily or built from scratch as DApps will also be explained in the following sections, employing technologies in the Function X ecosystem (namely Function X IPFS, FXTP Protocol and Decentralized Docker).
f(x) chain is a set of consensus algorithms in the form of a distributed ledger, as part of the Function X ecosystem. The blockchain isthe building block of our distributed ledger that stores and verifies transactions including financials, payments, communications (phone calls, file transfers, storage), services (DApps) and more.
Here is the f(x) Coin release schedule for the next 15 years.
We believe in achieving higher speed, thus hardware and software configurations matter. If your hardware is limited in numbers or processing power, this will limit the transaction speed which may pose security risks. The Ethereum network consists of about 25,000 nodes spread across the globe now, just two years after it was launched. Meanwhile, the Bitcoin network currently has around 7,000 nodes verifying the network. As for Pundi X, with the deployment plan (by us and our partners) for XPOS, XPhone and potentially other smart devices, we anticipate that we will be able to surpass the number of Bitcoin and Ethereum nodes within 1 to 2 years. There are also plans for a very competitive software implementation of our public blockchain, the details for which we will be sharing in the near future.
The f(x) OS is an Android-modified operating system that is also blockchain-compatible. You can switch seamlessly between the blockchain and the traditional mode. In the blockchain mode, every bit and byte is fully decentralized including your calls, messages, browsers and apps. When in traditional mode, the f(x) OS supports all Android features.
Android is the most open and advanced operating system for smart hardware with over 2 billion monthly active users. Using Android also fits into our philosophy of being an OS/software designer and letting third-party hardware makers produce the hardware for the Function X Ecosystem. This has not been finalized, but the options we are currently considering are Apache or GNU GPLv3. The f(x) OS works on ARM architecture, hence it works on most smartphones, tablet computers, smart TVs, Android Auto and smartwatches in the market.
Blockchain technology also has a large impact on the development of large companies. One of these big projects is called the x function. The main idea f (x) blockchain makes it easy for all transactions. I highly recommend this project to provide easy ecosystems in the future.
For more information you can see social media and official sites from Function X:
- Website: https://functionx.io
- Concept Paper: https://functionx.io/assets/file/Function_X_Concept_Paper_v
- Telegram: https://t.me/functionx
- Twitter: https://twitter.com/functionx_io
- Facebook: https://www.facebook.com/FunctionX.io
- Medium: https://medium.com/functionx
- Youtube : https://www.youtube.com/channel/UCmS83bWNR43jwEOC6EJaOyw
- Bitcointalk user: spinocorez
- Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2694482