What is Pundi X (NPXS) | What is Pundi X token | What is NPXS token

What is Pundi X (NPXS) | What is Pundi X token | What is NPXS token

Pundi X is a leading developer of blockchain-powered devices with the aim of transforming retail businesses with its blockchain-based point of sale solution. The solution allows retail merchants and consumers to conduct instantaneous in-store transactions on its blockchain. What is Pundi X (NPXS) | What is Pundi X token | What is NPXS token

What Is Pundi X (NPXS)?

Pundi X is a leading developer of  blockchain-powered devices with the aim of transforming retail businesses with its blockchain-based point of sale solution. The solution allows retail merchants and consumers to conduct instantaneous in-store transactions on its blockchain.

The blockchain solution was founded in 2017 and launched its ICO in January 2018 as the world's first point-of-sale solution. Following a successful ICO, Pundi X has successfully launched retailed focused services including XPOS, XWallet and XPASS as well as the world's first blockchain phone called BOB.

The company, which has its headquarters in Singapore, has shipped its XPOS solution and devices to over 25 markets including the United States, Spain, Argentina, Korea, Australia, Colombia, Spain and Taiwan.

Who Are the Founders of Pundi X?

The Pundi X project was founded in 2017 by Zac Cheah and Pitt Huang. The pair met in an HTML5 Interest Group in 2012, and the single idea that created the startup was a way of making cryptocurrencies a part of the daily lives of everybody.

Zac Cheah currently serves as the CEO of Pundi X. Prior to his role at Pundi X, Zac was formerly the W3C Chair of the HTML5 Interest Group. Zac, a skilled programmer received his MS.c in Computing from the KTH Royal Institute of Technology, abbreviated KTH, Sweeden, and M.Sc in cybersecurity from the Norwegian University of Science and Technology, Norway.

Pitt Huang currently serves as the chief technical officer and chief operating officer of Pundi X. Pitt who began coding at the age of 10. In his high school, he was already building space games.

What Makes Pundi X Unique?

The goal of the Pundi X project is to make cryptocurrency available to everyone. While other similar projects attempt to outperform the banking system, Pundi X looks to simplify transforming retail businesses to make this happen.

Pundi X has created a blockchain payment ecosystem with the XPOS, XPASS and the virtual XWallet. The XPOS is the world's first blockchain-powered wireless point-of-sale (POS) for cryptocurrencies.

Using the XPOS, retail merchants, as well as consumers, can easily buy, sell and transact using digital assets in physical stores. The product is designed to accept every cryptocurrency. Popular digital assets like  Bitcoin (BTC), Ethereum (ETH) and  Pundi X (NPXS) are listed within the ecosystem.

The XWallet mobile app is the bridge between the regular digital asset wallets and the Pundi X payment ecosystem. Users can use the XWallet to easily manage their digital assets, make transfers, check balances, and top-up the supported cryptos in the XWallet. The virtual XPASS card is issued to every registered XWallet user.

In June 2019, Pundi X launched the Open Platform to support more blockchains. Since then, DeFi developers and projects have registered and uploaded their ERC20 tokens to the Pundi X ecosystem, increasing its use.

How Is the Pundi X Secured?

Pundi X runs on a  proof-of-stake blockchain. This means that users stake their NPXS tokens to validate block transactions on the network. To be able to stake, you will need to have at least 1000 NPXS.

Validators who stake their NPXS as collateral form an integral part of the security of Pundi X. In return, they are rewarded with NPXS tokens.

The PoS consensus mechanism of Pundi X is decentralized like many other DeFi blockchains. Customer participation is key to the security of the network. Pundi X also give rewards to qualified retailers for facilitating transactions via the XPOS

How Many Pundi X (NPXS) Tokens Are There in Circulation?

Like the native tokens of other payment-centered crypto platforms, the great majority of the Pundi X (NPXS) tokens have been issued. Other brokerage services that take this approach include  Binance (BNB),  Voyager Token (VGX) and ( Troy (TROY).

Pundi X initially launched with the PXS and PXSXEM tokens, the tokens were swapped for the NPXS tokens between March and September 2018. The swap rate was set at one PXS token for 1,000 NPXS.

The current circulating supply of NPXS tokens is set at 235,514,908,115 tokens, while the max supply is set at 258,526,640,301 NPXS. At the moment, 91 percent of the NPXS tokens there ever will have been issued. The NPXS tokens are non-minable, they are instead issued weekly as staking rewards.

Pundi X Summary

Pundi X has high ambitions, but they may not be enough to overcome current objections from the retail industry about accepting crypto as payments. It built a solid project, however, and is already a top-performing crypto, despite its early age. The success of Pundi X depends on its execution on its key advantages.

  • Pundi X focuses entirely on creating physical retail point-of-sale devices capable of accepting cryptocurrency payments.
  • NPXS is an ERC-20 token on the Ethereum blockchain. It is accepted by major exchanges and can accept ETH, BTC, and BCH as trading pairs.
  • Pundi X has lower transaction fees than traditional credit cards. Unfortunately, it’s stifled by crypto’s volatility compared to fiat currencies.

If it can get the right pieces in play, Pundi X could be a solid investment that could stand the test of time. We don’t know yet what it will take for cryptocurrencies to be accepted by mainstream businesses and mom and pop shops.

Stabilizing prices will help, and if it ever happens, Pundi X will be in the right place at the right time.

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