Function(x)

About Function(x)

Function X, established in 2018 by co-founders Zac Cheah and Pitt Huang, operates as a decentralized ecosystem built entirely for and on the blockchain. The project was born out of Pundi X Labs, another venture co-founded by Cheah and Huang, with the vision to create a platform that could extend blockchain's utility beyond just financial transactions. The concept was first announced by CEO Zac Cheah in August 2018, followed by a demonstration of the world's first blockchain-powered phone call by CTO Pitt Huang in October 2018, showcasing the network's potential.

The founders' journey is deeply rooted in technology and entrepreneurship. Zac Cheah, who also serves as the CEO of Pundi X, holds master's degrees in Computing and Security and previously held roles at Opera and the W3C. Pitt Huang, the CTO, has been coding since age 10 and had already founded and sold several companies before co-founding Pundi X. Their combined expertise in web standards, security, and building scalable tech ventures underpins the development of Function X, which was initially conceived to provide a more suitable platform for Pundi X's blockchain point-of-sale network.

The business of Function X is centered on providing a comprehensive, multi-chain architecture for the decentralized internet. The ecosystem is designed to serve developers, businesses, and users looking to build or use decentralized applications (dApps) and financial products. It operates on a Proof of Stake (PoS) consensus model and features a core network, f(x)Core, that facilitates interoperability between different blockchains, such as Ethereum. This multi-chain and cross-chain structure is a key selling point, offering developers flexibility and users benefits like high transaction speeds and low costs. The company's business model is driven by its native utility and governance token, $FX, which is used for transactions, paying for services like data storage, staking to secure the network, and participating in the ecosystem's governance.

The core service is a scalable framework for a decentralized internet, composed of several key components including a proprietary operating system (f(x) OS), a public blockchain (f(x)Core), and decentralized transmission and storage protocols. A significant feature is its Ethereum Virtual Machine (EVM) compatibility, which allows developers to easily migrate existing Ethereum-based dApps to the Function X network. For users, the platform offers tools like the f(x)Wallet for managing digital assets and aims to bridge traditional finance with decentralized alternatives through products developed on its network.