Jax.Network - A Scalable, Decentralized Stablecoin for DeFi

Stablecoins have seen explosive adoption over the last few years. Their broad use started with trading and transferring across centralized exchanges. They have since found their way into DeFi as a staple primitive in the ecosystem.

Most importantly, perhaps, is a shift for many crypto natives to holding stablecoins instead of their native currency when exiting risk. The rise of DeFi has enabled users to put these idle assets to work. Once dormant, unproductive assets are leaving centralized exchanges and bank accounts in favor of economic utility in lending, market making, and other types of DeFi protocols.

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.

Just imagine how cool it would be to have a currency whose value won’t be affected by inflation. Today, tomorrow, and even a year later, coins will retain their purchasing value, unlike US dollar or Bitcoin, whose price fluctuations affect your pocket directly. JAX coins will always have a stable value denominated in hash rate, so it’s also a great way to protect your money. On top of that, you can use them to send funds to your family and pay your international suppliers at the lowest fees on the market.

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.

How does Jax.Network differ from ETH?
Jax.Network has no intention to replace Etherreum, as our network is primarily dedicated to payments, while Ethereum focuses on dApps. However, given the recent DeFi boom, stablecoins and sound digital collateral have become in high demand. A fair chunk of stablecoins is built on Ethereum-based smart contracts now. So let’s analyze the main differences and see how JAX coins differ from ETH.

Apart from that, Jax.Network has low transaction fees, so transferring value using JAX coins is convenient and relatively cheap. Having adopted pure state sharding, we gained a lot of perks. Thanks to enhanced scalability, our transactions are carried out much faster than those performed via any other network, including Ethereum.

Don’t miss any announcement by subscribing to our social media accounts:
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:
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