Jax.Network - Determined to bring value to the Bitcoin network
The somewhat volatile price swings of Bitcoin and other cryptocurrencies is one of the biggest entry barriers to deploying them in the mainstream financial markets. As without price stability, it is difficult for credit and debt markets to justifiably utilize a cryptocurrency.
On the other hand, stablecoins have been gaining a lot of traction, as they offer the security and relative price stability that other cryptos are unable to match. Today’s stablecoin solutions seek to combine the benefits of blockchain technology with the stability associated with certain fiat currencies or specific commodities.
A new stablecoin project says it has solved the problem of how to maintain a level price using market forces rather than huge stacks of fiat or locked crypto.
Jax.Network is a sharded proof-of-work blockchain anchored to the Bitcoin network on which two coins are mined: JAX and JAXNET (JXN). JXN is mined on the Jax.Network beacon chain, whereas JAX is mined on its shard chains.
JAX is the stablecoin, intended to be used for day-to-day transactions. Its shard chains are created as the miners determine they are needed, enabling the Jax.Network blockchain to scale in a virtually limitless fashion.
JAX relies on merge mining, piggybacking on Bitcoin, to create a highly scalable, market-driven cryptocurrency that incentivizes miners while gaining the security of the largest PoW blockchain. It also avoids the excessive gas fees of Ethereum.
How Jax.Network helps Bitcoin in the long run
It goes without saying that blockchain, lying in the basis of Bitcoin, is a truly remarkable and revolutionary technology that is set to change the current state of affairs. Well, these changes are actually noticeable, as a wide range of useful applications has been constructed on top of it. But what about Bitcoin? Several projects have been working on bringing scalability (e.g. Lightning), smart contracts (Rootstock), or aiming at decreasing transaction fees (Taproot update). However, Lightning has some issues, and Bitcoin is still seen as an asset, hence, very volatile.
5 reasons to start merge-mining Jax.Network
Number 1: smooth transition
Number 2: increased profit
Number 3: stable income
Number 4: early adoption
Number 5: revolutionary global payment ecosystem
One Blockchain,Two Coins
JAX coin
The cryptocurrency created on top of Jax.Network shard chains is called JAX (JAX). It’s a unit of economic value based on the cost of computing power that can be used as a stable payment method for day-to-day transactions.
JXN coin
The cryptocurrency issued on top of the beacon chain of our Jax.Network blockchain is called JAXNET (JXN). It has a fixed reward per block and can be used for speculative purposes and as a store of value.
Conclusion
The world is rapidly changing, and we need to keep pace with it, not to mention being better and faster than our market competition. Every day we make sure that our team is one step closer to making the Jax.Network blockchain being used by millions of people around the world on a daily basis. From the smallest purchases to large-scale cross-border transactions, you don’t have to wait any more worrying whether your money has traveled to the correct address. The Jax.Network blockchain can process lots of transactions simultaneously, so the receiver immediately gets the funds, regardless of the distance.
To sum it up, we argue that our technology benefits miners greatly, as we provide a large package of different incentives, from gaining more asset coins to predictable transaction fees. And we also bring value to people, meaning that we are here, in this business, pursuing not the money but rather Satoshi Nakamoto’s dream of bringing a truly decentralized and cheap electronic cash to the world.
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:
Forum Username: ngainammom1213
Forum Profile Link: https://bitcointalk.org/index.php?action=profile;u=2824764