Blockchain
Function X Mainnet is live
Function X (CURRENCY:FX) Mainnet went live successfully at 22:00 GMT+8 on 6th July 2021 after three years of development.
Developed by Pundi X Labs, Function X has a cross-chain architecture based on pBFT and PoS. Cross-chain, as the name implies, allows multiple chains to be part of Function X. By integrating various blockchain ecosystems (Ethereum and others), Function X is designed to increase the liquidity and value of digital assets created on the Function X network.
Rather than building an ecosystem that competes with Ethereum, Function X aims to leverage on its strengths, for example, by providing asset aggregation contracts, connecting to Ethereum smart contracts, and generating interest at the same time in both (and more) chains. While leveraging the existing Ethereum infrastructure, at the same time FX Core provides an environment with higher speed and cheaper fees.
The mainnet launch kicks off the governance stage, allowing Function X token ($FX) holders to participate in verifying block creation and receive block rewards via delegation to secure the network with 20 initial company-hosted validators (later will open to public validators once the operation of the mainnet is mature). The delegation is available on the f(x)Wallet, a non-custodial, decentralized wallet app that supports inter-chain and cross-chain transactions on multiple blockchain networks as well as providing decentralized finance services.
With the mainnet launch, the holders will be able to bridge their $FX in ERC-20 to the FX Core through f(x)Wallet. This means $FX will be able to be utilized on both Ethereum and FX Core. $FX will be the first digital asset transferable between Ethereum and FX Core. There will be no conversion / wrapping action needed, and the cross-chain transfer will be as simple and smooth as a usual on-chain transfer process.
The second stage of the launch will be the running of XPOS devices on the FX Core, which will give the Function X Mainnet a number of real-world use cases. Pundi X will utilize the custom chain built on the Function X network to verify real-world transactions, such as payment for a cup of coffee made using XPOS devices. This stage will demonstrate how well f(x)Wallet can directly interact with XPOS on-chain. With this use case, it will also enable financial institutions that have built a custom chain on Function X to hop onto the XPOS’ custom chain through FX Core. XPOS will be able to provide financial tools and services on the Function X network.
With Function X being increasingly used in the real world—XPOS devices, for example, are now deployed in over 30 countries and counting—the launch of the Function X Mainnet presents a real opportunity for all kinds of people to familiarize themselves with blockchain. Though the launch is only recent, the Function X Mainnet could prove a crucial catalyst in the fight to bring blockchain to the mainstream.
To learn how to participate in Function X Governance as a delegator, visit: https://medium.com/functionx/function-x-june-hash-out-part-2-75e31446d82e
To learn about the roadmap and previous testnet reports :
Function X testnet 3.0 (part 1) wrap-up report
Function X testnet 2.0 wrap-up report
Function X testnet 1.0 wrap-up report
Follow Function X on Medium, Twitter, Facebook, Reddit as well as Github for detailed documentation. If the community members are interested in sharing ideas and participating in building the Function X ecosystem together to make it better, join the official Function X Forum.
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Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
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Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
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Nano Labs Purchases Trump Tokens to Celebrate Presidency
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Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
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