Function X is an ecosystem built entirely on and for the blockchain. The f(x) Ecosystem consists of five elements: f(x) operating system, f(x) public blockchain, f(x) FXTP, f(x) docker and f(x) IPFS.
More than 100,000 blockchain transactions were made in just 7 days since the public release of the Function X test network.
The first block on the new testnet was created on the 8th of June and open for the public to test on 11th of June. Currently Function X testnet has over 50 validators to ensure its overall efficiency. Transactions on the testnet have so far yielded satisfactory results to achieve the confirmation speed within seconds.
Function X testnet consists of three key components, the first being the Function X Cloud, a blockchain cloud service platform tailored to enterprises and developers. The second is the FX Connect wallet that supports transactions in the Function X Network. There’s also the FX Explorer publishing real-time data on testnet performance. The network operates in a proof-of-stake consensus algorithm. Validators for the public release were chosen in May 2020 through an invite-only process.