Jax.Network - Issues scalable, stable, and decentralized JAX coins
Advantages of asset backed cryptocurrencies are that coins are stabilized by assets that fluctuate outside of the cryptocurrency space, that is, the underlying asset is not correlated, reducing financial risk.[2] Bitcoin and altcoins are highly correlated, so that cryptocurrency holders cannot escape widespread price falls without exiting the market or taking refuge in asset backed stablecoins. Furthermore, such coins, assuming they are managed in good faith, and have a mechanism for redeeming the asset(s) backing them, are unlikely to drop below the value of the underlying physical asset, due to arbitrage.
Backed stablecoins are subject to the same volatility and risk associated with the backing asset. If the backed stablecoin is backed in a decentralized manner, then they are relatively safe from predation, but if there is a central vault, they may be robbed, or suffer loss of confidence
JAX coin may become the world’s first stable coin that maintains its stability in purchasing power without the need to peg its coins to fiat currencies or assets.
Jax.Network is anchored to the BTC blockchain that follows the JaxNet protocol and issues scalable, stable, and decentralized JAX coins. We aim at making these coins a universal standard for the quantification of economic value.
Jax.Network is anchored to the Bitcoin blockchain that follows the JaxNet protocol and issues scalable, stable, and decentralized JAX coins. The Jax.Network team aims at making these coins a universal standard for the quantification of economic value. Established in 2018, the company united professionals from all over the world to build a blockchain network based on the Proof-of-Work consensus mechanism and pure state sharding as a scaling solution.
Jax.Network uses a specific merge-mining technique. It allows miners to mine multiple shards simultaneously without splitting their hash rate and get rewards proportional to their effort. Being an open-source project, the JaxNet protocol can be used by anyone to build new projects on top of it and contribute to the development of the ecosystem.
"Our official contract addresses are:
BEP-20: 0xca1262e77fb25c0a4112cfc9bad3ff54f617f2e6
ERC-20: 0xcA1262e77Fb25c0a4112CFc9bad3ff54F617f2e6"
Missing piece of the puzzle
As we already mentioned above, nothing is perfect, even state-of-the-art blockchain-powered Bitcoin. But that’s totally OK, as it left some space for Jax.Network to conduct comprehensive research and come up with a great solution to the blockchain problem that most cryptocurrencies face. Our Jax.Network has a highly scalable blockchain with Proof-of-Work consensus based on sharding and merged-mining. It means that our protocol meets 4 main criteria, namely:
- decentralization
- scalability
- security
- stability
Jax.Network worked hard to execute such a complicated project and take pride in being the masterminds behind this brilliant technology. We believe that the Jax.Network blockchain is suitable for mass adoption and day-to-day payments, like grocery shopping or paying for a cup of coffee. In fact, our development can become a decent competitor to global payment platforms such as Visa and Mastercard. Bitcoin’s scalability issue isn’t a threat to us, as our Jax.Network blockchain can process a large amount of transactions per second, remaining secure and decentralized.
For more information and join Jax.Network social media at this time please follow some sources for the following references:
Website: https://jax.network/
Litepaper: https://jax.network/wp-content/uploads/2021/06/Jax.Network-Lightpaper.pdf
Telegram: https://t.me/jax_chat
Twitter : https://twitter.com/CommunityJax
Linkedin: https://www.linkedin.com/company/jax-network/
Facebook: https://www.facebook.com/network.jax/
Author:
Forum Username: QiiZiils2ssq
Forum Profile Link: https://bitcointalk.org/index.php?action=profile;u=3198422