Jax Network — Scalable, Decentralized Stablecoin for DeFi

Blockchain network innovation has been with us for more than a decade. Satoshi created the first blockchain protocol, which leveraged blockchain technology to simplify and protect Bitcoin transactions. However, even with this and many new generation blockchains that have emerged since then, the technology is still not scalable, and the cryptocurrency that comes with it to fuel its operation is volatile and cannot be used for day-to-day payments. Consider attempting to transact using Ethereum or any of its tokens; one will have to pay a large transaction fee, and the confirmation procedure cannot take much longer depending on the charge used for the transaction.

JAX.NETWORK

JAX.Network is a blockchain ecosystem that developed a blockchain protocol to address the difficulties that have befuddled blockchain technology and its decentralized currency. Scalability and volatility are the two problems at hand. The project’s developers informed us that its blockchain technology will be able to address the crucial concerns of scalability and stability. The platform will have two distinct coins using JAX.Network solutions, one of which is JAX Coins, which will be scalable and stable for everyday transactions. Because of their poor scalability and volatility, most cryptocurrencies on the market today cannot be used for daily transactions.

The network created the JAXNET protocol, which is based on the Bitcoin protocol, and so provides functionality and security that are similar to Bitcoin characteristics. However, the JAX.Network was upgraded, making it more reliable, scalable, and beneficial for its miners.

Features

When compared to the Bitcoin protocol, JAX.Network is striving to develop a blockchain technology that provides efficient scalability and stability. With its blockchain architecture, JAX.Network will be able to create a highly scalable stable coin that is not tied to centralized currencies and can be used for real-time transactions.

The following are JAX.Network’s distinguishing characteristics:

Merged Mining Technique: With a merged mining technique, JAX.Network protects shards from shard-over assaults. Miners will benefit from a more equal compensation structure as a result of their participation in safeguarding the network.

Pure State Sharding: All accounts, validators, and transactions are shared amongst sharded blocks via JAX.Network. This process guarantees that verification is faster and more efficient.

An Efficient Transfer Method: The JAX.Network guarantees faster transactions and payments than traditional payment systems. The platform is a decentralized payment network that allows for cross-shard payments and transactions.

PoW Based Reward System: For its incentive system, JAX.Network employs the Proof of Work consensus mechanism. This incentive ensures that the value of a unit of JAX Coin remains consistent regardless of where it is in the world.

Dual Coins Platform

The JAX.Network uses two coins: JAX COIN and JAXNET Coin. These two coins help the network’s growth and functioning. The capabilities of JAX COIN and JAXNET are separate and distinct. Because of its scalability and reliability, JAX Coin may be used for day-to-day transactions, but JAXNET, like many other cryptocurrencies, can be used for speculation.

Token Distribution

Roadmap

Conclusion

JAX.Network created a blockchain protocol with capabilities that address major concerns that plague most blockchain systems. By basing it on the Bitcoin protocol, JAX.Network presents a blockchain technology that is not only more secure but also more reliable and scalable than the Bitcoin Blockchain. With this, JAX.Network will be able to house coins that can be used for daily transactions with rising value and can be used in the DeFi ecosystem.

More Info

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

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Author

Bitcointalk Username: Cryptolakshi
Bitcointalk url: https://bitcointalk.org/index.php?action=profile;u=2813018
BEP-20 Address: 0xA2f3dEE310133fec376F2061B6BBf2BC9FD8e9D1

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Review ICO, IEO, Exchange Contact Info: cryptoarindu@gmail.com

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