Jax.Network - New era for cryptocurrencies

Cryptocurrency has proved fertile ground for fintech startups, inspiring competition in everything from wallets for storing digital assets, and exchanges for trading and swapping coin pairs, to new channels for consumers and enterprises to realise value from their virtual coins in the ‘real world’. It’s here, creating meaningful utility and streamlined processes to ‘cash out’ from the enclosed ecosystems, where the biggest future developments lie - and where crypto collides with the big players of world finance.

According to a 2021 Q1 report by crypto research firm Messari, "The stablecoin monetary base reached over $65 billion in Q1 and continues to rise at an accelerating pace. Stablecoins also facilitated a whopping $1 trillion in transaction volume, more than the previous four quarters combined. USDC was the biggest winner, growing its share by 17%.”

Global stablecoins enable investors to generate yield on their crypto assets in the DeFi market while alleviating the potential adverse effects of market volatility.

Jax.Network is a blockchain project that begun in 2018. We have developed a blockchain protocol that is secure, scalable, decentralized, and houses its verg own stablecoin, realizing Satoshi's vision in creating electronic cash. This project aims to create a trulg global crqptocurrencg that is suitable for mass adoption and dag-to-dag use.

Furthermore, we have elected to anchor our blockchain to the Bitcoin blockchain, bringing much-needed stability and scalability to its ecosystem. This is not onlg beneficial tor the users of Bitcoin but also for the miners who secure the network as well.

Jax.Network was created to solve the basic problem of Bitcoins which is that it has yet not been adopted by mainstream users because of its scalability problem. The scalability problem which we are referring to means that Bitcoin is not able to handle a large number of transactions at the same time which makes it impossible to be used conveniently at a store for day-to-day transactions and hence, mainstream users do not use or consider Bitcoins as a payment for daily transactions. Also, using Bitcoins as a payment mode at a store means paying a heavy transaction fee to get the transaction confirmed within seconds which increases the overall cost for the user. There have been other coins like Ripple which have solve this problem by letting millions of transactions be confirmed within seconds but they are all centralized and hence the third party can control then which is contradicting the purpose of blockchain. Jax.Network aims to solve this problem by introducing a scalable, secure and decentralized network.

Jax.Network Coins:
Jax.Network has one blockchain and two coins, named JAX and JAXNET. The JAX coin is built upon the Shard chain and is a stable coin that can be used for day to day transactions while the JAXNET coin is a coin based on the Beacon chain which can be used for speculative purposes.

Why anchoring to BTC helps our economics?
Our block reward function on shards is proportional to the aggregated hashrate on the network. If our network difficulty follows the one of Bitcoin, this implies that it is an exponential curve. Thus, ensuring the security of the network would be paid with inflation, rendering our JAX transactional coins useless for day-to-day payments in the long run. Technical aspects aside, anchoring to BTC helps us to put some control on coin issuance. Indeed, we make it costly for miners to print JAX since they have to choose between minting BTC and JAXNET or JAX by sending their BTC and JAXNET to an invalid address.

SUMMARY
JAX coins are stablecoins with a market-driven issuance rate, ensuring low inflation and stability in value (measured by the cost of hashrate). JAX coins are stable and decentralized. They are not pegged to any fiat currency, avoiding centralization that defeats the purpose of cryptocurrencies in the first place. JAX coins are not collateralized, so your capital does not have to be locked and stay idle to maintain value against highly volatile digital assets. JAX coins will bring the DeFi ecosystem to Bitcoin as an alternative stablecoin to hedge your risk, pay yields or for lending and borrowing operations, etc.

Official Website: https://jax.network
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/
LitePaper: https://jax.network/wp-content/uploads/2021/06/Jax.Network-Lightpaper.pdf

author:
Bitcointalk username: keggyvone8887
ETH (BEP20 - BSC - Binance Smart chain) address: 0x9CD98501EBf1651E871c3D00638A21D75f7c5482