What is Function X and how to exchange FX at the best rates
Function X

Function X

 FX

Pundi X Labs developed Function X (FX Coin), with a cross-chain architecture based on pBFT and PoS. Since Function X is a cross-chain network, it enables the integration of multiple chains to form a part of the Function X blockchain. It integrates various blockchain ecosystems like Ethereum, Solana, etc. In addition, FX crypto is designed to ensure an increase in liquidity and the value of digital assets established on the Function X ecosystem. Want to know more? Let’s go!

Function X Exchange Rate

FX by TradingView

What is Function X?

Function X chooses not to go head to head with traditional blockchain ecosystems like Ethereum, Bitcoin and the rest. Instead, it focuses on its strength such as offering asset aggregation contracts, that link up to Ethereum smart contracts and yield gain at the same time on one or multiple blockchains. As it exploits the existing Ethereum structure, the FX core supplies a conducive environment with higher speed and cheaper fees at the same time.

The Function X blockchain is supported by the Function X foundation, a non-profit organization. FX crypto foundation focuses on the growth and well-being of the Function X crypto ecosystem. This ecosystem is a next-generation internet service architecture that is totally built for and on the blockchain. The FX network’s unique ecosystem provides a novel service framework through the improvement of existing internet and blockchain infrastructures. It combines the benefits of both infrastructures and utilizes common technical solutions.

Function X Blockchain

As reiterated earlier, Function X blockchain is quite a revolutionary tech in the crypto space. In this paragraph, we’ll discover its history and see more in-depth what Function X blockchain is.

After the launch of the mainnet, the governance stage was initiated. The governance stage allows Function X token holders to participate in verifying the creation of blocks on the network. By participating in this activity, users are eligible to receive block rewards through delegation. In order to secure the network, 20 company-hosted validators were initially selected. Validation will be opened to the public later when the mainnet operation becomes mature.

Delegation is made available on the FX wallet, which is a non-custodial and decentralized wallet application. The FX wallet does not only support inter-chain and cross-chain transactions on multiple blockchain networks but also provides decentralized finance services.

The mainnet launch comes with a lot of promising features for FX users. Some of these features allow FX coin holders to bridge their ERC-20 FX coin to the FX core using the FX wallet. This way Function X crypto can be utilized on both Ethereum and FX blockchain core.

As the first transferable digital asset between Ethereum and FX Core, there will be no conversion/wrapping action required. Also, cross-chain transfers are guaranteed to be straightforward and effortless just like a normal on-chain transfer process.

Then the second stage of launch commences with the operation of XPOS devices on the FX core. This will give the FX mainnet several real-world use cases. Pundi X aims at utilizing the custom chain built on the Function X network to authorize real-world transactions. As we covered in the Pundi X article, the XPOS device is one of the components of the Pundi X ecosystem.

The second stage is very crucial for FX since it validates how well the FX wallet can directly interact with XPOS on-chain. This use case also allows financial institutions with a built custom chain on FX to migrate onto the XPOS’ custom chain via FX core. XPOS aims at providing financial tools and services on the Function X blockchain.

Function X is gradually being used globally. For instance, XPOS devices have been distributed to more than 30 countries. With the launch of Function X mainnet, many people are now presented with the opportunity to get more familiar with blockchain. Even though Function X is still in its infancy, it can act as a catalyst for the fast adoption of blockchain globally.

Function X (FX) Coin

The FX coin is a token that powers Function X crypto network, with a structure that comprises core blockchain, a platform for DApps, and a cross-chain protocol. As a use case, FX coin is a mode of payment for services like staking, vote eligibility for network upgrades, smart contract creation, and data storage. It’s available on Both Ethereum and Function X blockchains.

Moreover, Function X coin serves as a governance token on the Function X ecosystem. Users can use FX coin in several ways such as vote casting, as collateral, generating synthetic assets delegate, and core network security.

The current circulating supply of FX is recorded to be 408,520,357 FX, and the Function X price is $1.19 as of November 1, 2021. It’s currently being traded on 14 active markets.

Unlike other cryptocurrencies, FX coin makes use of the Proof-of-Service concept for its mechanism. About 20% of the total FX coin supply has been generated by Token Generation Event (TGE) while the rest will be generated via Proof-of-Service. The generated tokens via Proof-of-Service are given to the service providers over 15 years.

How to buy FX coin or exchange ETH to FX on Swapzone?

Converting your asset to FX can be done easily on Swapzone. You can trade FX crypto on FX exchanges that Swapzone will compile for you. Use our step by step guide below to make sure your process will go smoothly:

  • Visit Swapzone and select Function X in the “Get up to” tab.
  • Select any Function X coin pairing from the list of tokens. Swapzone will pull up all the FX coin exchanges regarding the selected token pairing.
  • Input the amount of currency you want to exchange, then you can select the Function X exchange that suits you by clicking on the “exchange” button.
  • Input the address where you want to receive the crypto.
  • There is also an option for a refund address, which is the address where the asset you are swapping for the cryptocurrency will be refunded.
  • Once done, you click on the “proceed the exchange” button to carry out the exchange.
  • The Function X exchange process will start. Wait until it finalizes.
  • Don’t forget to leave a review and rate the exchange provider to let us know about your experience.

Popular pairs to convert Function X

Frequently asked questions

What is the Function X exchange rate?

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An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.

There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.

Where to find the lowest transaction fees?

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Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.

If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.

What is average transaction time?

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Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.

The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.

The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.

How to choose a cryptocurrency wallet to store Function X?

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To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.

There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.

If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.

What is the best cryptocurrency exchange for beginners?

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There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.

To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.

What is Swapzone?

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Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.

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