Cryptocurrency is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions on a ledger that is typically publicly viewable. A community guarantees the authenticity of the transactions in addition to the creation of additional units of the currency.
Cryptocurrency enables users to act anonymously and this removes power traditionally held by financial institutions.
At first the blockchain might seem complex but in reality, it’s very simple. The blockchain is just another type of database for recording transactions – once a transaction occurs, it is copied to all of the computers in a participating network and this is sometimes referred to as a distributed ledger.
Data is stored in ‘blocks’, and there are two main features about ‘blocks’ to know:
FUNCTION X f(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.
Function X Foundation is a nonprofit, independent organization that supports the growth of the Function X Ecosystem, a next-generation internet service framework, built entirely on and for the blockchain. It is a completely new ecosystem providing a novel service framework by improving the existing internet and blockchain architectures, combining the benefits of both and using the most commonly used technical solutions.
VISION
Our vision is to create a fully autonomous and decentralized network that does not rely on any individual, organization or structure.
FIVE CORE COMPONENTS :
Function X Operating System (OS);
Function X distributed ledger (Blockchain);
Function X IPFS
FXTP Protocol
Function X Decentralized Docker.
All five components serve a single purpose which is to decentralize all services, apps, websites, communications and most importantly data.
XPHONE
XPhone is the world’s first blockchain phone which is designed with innovative features that are not found on other smartphones which is powered by Function X, an ecosystem built entirely on and for the blockchain. It runs on a new transmission protocol for the blockchain age. The innovation significantly expands the use of blockchain technology beyond financial transfers. XPhone runs independently without a centralized service provider, users can route phone calls and messages via blockchain nodes without the need for phone numbers.
Once the XPhone is registered on the network, e.g if someone wants to access ola’s publicly shared data or content, that user can just enter FXTP://xxx.ola. This is similar to what we do for the traditional https:// protocol.
Whether Ola is sharing photos, data, files or a website, they can be accessed through this path. And if Ola friends would like to contact him, they can call, text or email his XPhone simply by entering “call.ola”, “message.ola”, or “mail.ola”.
The transmission of data runs on a complex exchange of public and private key data with encryption. It can guarantee 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.
For more information, Please visit the following sites:
Website: https://functionx.io/#/
Whitepaper: https://functionx.io/assets/file/Function_X_Concept_Paper_v2.0.pdf
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: Seunola
MyBitcoinTalk profile: https://bitcointalk.org/index.php?action=profile;u=1925064
ETH Address: 0x3eb48CF7E0A5570540641DD8263cA40e307562e9
