NPXS is the native ERC-20 token used by the PundiX platform and NPXSXEM is the native
asset running on the NEM blockchain. Both of them serve the same function.
PundiX is a project providing a “borderless payment ecosystem beyond fiat”. The PundiX
team has offices in 7 different countries and their products are in use in over 25 countries so
They have a wide product range:
– XWallet: A mobile integrated wallet connected to virtual or physical XPASS cards.
– XPASS: A virtual/physical card to initiate instant-payments.
– XPOS: A Point-of-Sale device for merchants that accepts traditional payment methods
(Visa/MasterCard/Apple Pay/Google Pay) as well as cryptocurrency payments made
through an XPASS card.
– XPhone: Powered by the FunctionX blockchain, the XPhone is intended to be a truly
decentralised and secure phone that will not require a centralised service provider. (To be
NPXS/NPXSXEM is the default token used by the application. The token is used to settle
payments between merchants and users. It can also be used for loyalty programs,
encouraging the use of NPXS/NPXSXEM.
The developing team launched an ICO on 21 January 2018 and raised $30.5 million by
selling 20% of the total supply in private and public token sales.
70% of the funds are dedicated towards a monthly token release mechanism. This mechanism
was created to incentivise users to hold and stake their NPXS/NPXSXEM tokens.
The remaining 10% of the tokens are devoted to sustaining the operational costs of the team,
company, and advisors.
The funds raised by the ICO have been distributed in the following manner:
– Project Development: 50%
– Marketing: 15%
– Team: 15%
– Licensing: 10%
– Partnerships: 10%
Blockchain Architecture (FunctionX)
All PundiX POS devices are currently connected to the Ethereum and NEM blockchains, where NPXS/NPXSXEM live. After the launch of the FunctionX blockchain, all XPOS devices will merge to the new blockchain.
According to the developing team, FunctionX must deliver at least “tenfold” improvements, from current technology (i.e Visa), in terms of speed, scalability, consensus, and openness.
1) Speed: That adds up to a minimum of 200,000 transactions per second performance. In order to achieve such numbers, dividing the global network into smaller local networks must be used; this mechanism is called sharding.
2) Scalability: Speed and the number of nodes are two essential elements for scalability. PundiX plans to roll out 100,000XPOS devices within the next three years, which will allegedly help make the network more scalable.
3) Consensus: Information is limited about the blockchain. Nonetheless, it seems FunctionX will be using a Practical Byzantine Fault Tolerance (PBFT) mechanism as they are looking on a 2/3 consensus. There may be a slight difference from PBFT as a major focus will be on geographic diversity of the nodes. (To be clarified)
4) Openness: PundiX developers are creating an infrastructure to assist public chains by allowing developers to include their wallet/payment application on the PundiX platform.
FunctionX will include more than a public blockchain. It will also include an InterPlanetary File System (IPFS), an operating system, a docker and an FXTP transmission protocol.
Image c/o PundiX Medium