Jax.Network - Attempts to offer price stability

While bitcoin remains the most popular cryptocurrency, it tends to suffer from high volatility in its valuations. For instance, it rose from the level of around $5,950 in November of last year to above $19,700 in December, and then declined by around two-thirds to the level of $6,900 by early February. Even its intraday price swings can be wild; it is common to see the cryptocurrency moving in excess of 10 percent in either direction within a span of a few hours.

This kind of short-term volatility makes bitcoin and other popular cryptocurrencies unsuitable for everyday use by the public. Essentially, a currency should act as a medium of monetary exchange and a mode of storage of monetary value, and its value should remain relatively stable over longer time horizons. Users will refrain from adopting it if they are not sure of its purchasing power tomorrow.

Ideally, a crypto coin should maintain its purchasing power and should have the lowest possible inflation, sufficient enough to encourage spending the tokens instead of saving them. Jax.Network provide a solution to achieve this ideal behavior.

ABOUT JAX NETWORK:

Jax Network is a safe, stable, scalable, and decentralized blockchain technology. Compared to most blockchain technologies, Jax Network uses a proof-of-work system. To prevent third-party interference, such as government action, Jax Network gives miners full rights to safeguard the network in this manner. Jax Network also offers the following features:

Universal Reward Function: As with Bitcoin, Jax Network's reward mechanism is based on a PoW-based difficulty model. The network is thus able to accommodate every miner that wants to participate and is compensated for their efforts.

Sharding: Accounts, transactions, and validators will be distributed between shards in this type of system. Consequently, it is feasible to verify transactions in one shard without having to know the previous transaction history in another shard.

Equitable Merged Mining: Using a mining process called merged mining, Jax Network created shards to be attack-proof. It also enables for an equitable and flexible distribution of rewards, so that all players are paid fairly for their contributions.

Decentralized Transfer Ecosystem: Inter-shard transactions are facilitated through the use of exchange protocols in this eco-system.

STRONG TEAM

KEY ASPECTS

• Secure
  JaxNet protocol is directly anchored to the Bitcoin ecosystem thanks to its merged-mining algorithm. Therefore, it benefits the same level of security as the BTC network.

• Scalable
  Jax.Network sharding solution allows for a virtually unlimited amount of transactions per second, rivaling that of centralized payment systems like Visa or Mastercard while remaining totally secure and decentralized.

• Decentralized
  Based on Proof-of-Work, Jax.Network employs an equitable merged mining solution and is not subject to general concerns of centralization.

OUR PARTNERS

TOKEN
Jax Network has introduced JAX and JXN currency, two cryptocurrencies that will serve a variety of purposes in the ecosystem. It will be used for day-to-day payments. For the Jax Network ecosystem, JXN is a store of value that will be used to pay security fees and exchange fees and to provide incentives to miners, among other things. These two coins will be used to fund the Jax Network's development and operation.

SUMARY
JAX coins are only mined on demand. Their cost of production is tied to the cost of Bitcoin hashrate, putting a lower bound under which coins cannot be sold. We assume that miners are profit-motivated and would not sell JAX below its marginal cost of production. At the higher bound, miners’ economic incentives also play out. Indeed, if the market rate of JAX is increasing, they are better off printing JAX instead of JAXNET. JAX market rate will fluctuate within these lower and upper bounds, just like any fiat currencies. JAX coin issuance follows market dynamics, not some predefined and constraint algorithm.

Don’t miss any announcement by subscribing to our social media accounts:
Official Website: https://jax.network
Litepaper: https://jax.network/wp-content/uploads/2021/06/Jax.Network-Lightpaper.pdf
Twitter: https://twitter.com/CommunityJax
Facebook: https://www.facebook.com/network.jax/
Telegram Channel: https://t.me/jax_network
Official Group: https://t.me/jax_chat
LinkedIn: https://www.linkedin.com/company/jax-network/

Author:
BitcoinTalk username: CaycugeHHs
BitcoinTalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=3198768