FUNCTION X - The future is Blockchain Internet
Peaceful greetings of the universe
FunctionX Created by Pundi X. An ecosystem built entirely on and for the #blockchain. f(x) consists of an operating system, public blockchain, FXTP, docker and IPFS.
FUNCTION X The next era of the Internet is "Blockchain Internet". Function X will be leading the charge to power this new era of a decentralized world. Every app, image, data, bit and byte on the internet will be decentralized.
What Is Function X?
F(x) is a decentralized network. It is intended to be an integrated solution to serve decentralized networks. The f(x) recipe consists of a combination of: a new blockchain algorithm, a complete set of decentralized network, a decentralized communication architecture and a decentralized governance protocol. We believe that decentralization should be absolute, immutable and without a tinge of centralization. This encompasses the design concepts, architecture, procedure/protocol, as well as governance structures. Ultimately, this is the f(x) implementation of a decentralized network, where not a single entity can dominate, control and influence the network in any way, shape or form.
What Is The Role Of Pundi X In Function X?
In the current setting of a centralized network, Pundi X’s role can be seen as the architect, the initiator or the leader of this proposed f(x) solution. However f(x) will eventually move towards a completely decentralized path. This means once the f(x) ecosystem is firmly in place, there will be a gradual “fade-out” of Pundi X in terms of its current leadership role in the f(x) network. The vision is to have the f(x) network sustainable, growing and evolving even without Pundi X. That’s the beauty of a fully decentralized world powered by f(x).
Dawn Of The ecentralized 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.
What Was The Internet Like In The Early 90s And 2000s?
In 1990, the birth of the first internet browser and web page gradually digitized the global businesses. In less than 20 years, the internet has grown into a worldwide network, facilitating communication, trade, management and other human-to-human interactions. The internet has completely changed the society on a global scale, with vastly improved efficiency and benefitted the global economy. However, it is precisely because of this kind of network mechanism that enables the centralization and monopolistic behaviour of large enterprises that give them an edge over companies that do not utilize internet services. Large enterprises thrive on being able to handle and process significant amount of data and they do so by adopting a centralized server to read, transmit and store data effectively. And because information/data is king in today’s digital world, as enterprises owns more data, the more powerful they become. The major disadvantages are new companies often find themselves unable to compete with existing enterprises due to the monopolistic nature. Entrepreneurial innovations become hindered and stifled.
Meanwhile, the aggregation of data in a few concentrated locations (and organizations) poses important security concerns, involving potential risks such as data privacy abuse and leakage. Not to mention, the monopolistic model is difficult to break, and the lack of transparency as well as competition could bring negative effects to the growth and development of the world.
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.
Function X : What Does It Solve
F(x) Aims to disrupt and break away from institutional centralization and monopoly, by building a blockchain network service on the internet with all the useful features and experiences of the internet products today. F(x) enabels swift migration of businesses onto F(x)'s blockchain service network, and allows each developer to have absolute control over their own data, thus effectively removing barriers between two businesses. With data monopolization removed, F(x) also cultivates a sense of competitiveness in enhancing user experince and improved efficiency, instead of fostering the dependency of past successes (having an edge in data monopoly) to fend off fresh competitors.
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.
F(x) Coin
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.
F(x) Token Allocation & Mechanism
Token allocation
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.
Roadmap
David Ben Kay-President FunctionX Foundation
Prior to joining the Pundi X team, Kay advised over fifty companies in dealing with legal issues, including serving as Chief Legal Counsel for Microsoft China and being a managing partner of international law firm Dentons’ China operations. He is best known as a former advisor and member of the governing board of the Ethereum Foundation, the non-profit behind one of the most successful cryptocurrencies.
Yoshiyuki Yamamoto previously held several positions in the United Nations (UN), many of which involved the UN’s humanitarian efforts in Afghanistan and Pakistan. Most recently, he was the Special Advisor for UN Engagement and Blockchain Technology at the United Nations Office for Project Services (UNOPS), where he sought opportunities for implementing distributed ledger technology within the UN’s processes.
Yos Adiguna Ginting has held various executive positions in several private Indonesian companies, including PT Indah Kiat Pulp & Paper and PT HM Sampoerna. He was also the Director of Government Affairs — Stakeholders Outreach at Philip Morris International.
Follow The Function X Official Channels
All Function X official news and information, including XPhone availability will be published and announced in the following channels. You can follow the official channels to get the latest news of the Function X project.
More Information Visit The FUNCTION X Link:
WEBSITE: https://functionx.io/
CONCEPT PAPER: https://functionx.io/assets/file/Function_X_Concept_Paper_v2.0.pdf
ANN THREAD: https://bitcointalk.org/index.php?topic=5131069.0
TWITTER: https://twitter.com/functionx_io
FACEBOOK: https://www.facebook.com/FunctionX.io/
TELEGRAM: https://t.me/functionx
MEDIUM: https://medium.com/functionx
YOUTUBE: https://www.youtube.com/channel/UCmS83bWNR43jwEOC6EJaOyw
Author: Sesepuh
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