Future Scalability Solution with Jax.Network
By: Herri Kurniawan
Tags: Scalability, Stablecoin, Cryptocurrency, Blockchain, Jaxnetwork

Jax.Network is a platform that is created to deal (and then solve) scalability issue. Among the many platforms that are claimed to be able to tackle scalability problem, Jax.Network is very confident about its own features and technologies. Sure, you can’t underestimate other platforms, but then again, they are still testing out their technologies, methodologies, and systems. Jax.Network already has the concept and the technologies, and now they are ready to launch the platform to cover the global scale.

The Problem with Ethereum and Bitcoin

You have to admit that Bitcoin pioneered the invention of blockchain technology as well as cryptocurrency. The idea is to have an alternative payment system so people can have more flexibilities and freedom in managing their finance. People no longer have to depend on the centralized (and traditional) structure as they can have blockchain technology as their new friend.

Unfortunately, Bitcoin and Ethereum face two biggest issues: the native token’s lack of stability and the reduced throughput. Initially, Bitcoin and Ethereum are designed and created as global currencies to help with day-to-day arrangements and transactions. But because of the scalability issues, they become speculative assets, which is not promising or fruitful as future investment.

Financial experts believe that if there is a platform (or more than one platform) that can address these two main issues, then cryptocurrencies can be the real competitor against the leading payment systems that the world has today. In short, cryptocurrency can be a promising payment alternative that isn’t only effective and safe, but also flexible.

The Unique Features about Jax.Network

Created in 2018, Jax.Network is created as a decentralized, scalable, and also safe (blockchain) protocol. It even has its own stablecoin. In a way, the platform has been able to realize Satoshi’s vision to create electronic cash. It has a bigger purpose of creating a true global cryptocurrency, which would be perfect for everyday use and mass adoption. The platform isn’t only created to solve scalability issue, but also stability problem. It’s advantageous for everyone, including both users and also miners (who make sure that they secure the network).

The platform utilizes merge-mining technologies, so the miners can make use of the blockchain platform with minimize cost. This would create a long-term solution that most Bitcoin miners face today: the fact that Bitcoin pricing volatility affects miners’ revenues and income.

Jax Coin Reward

Every platform has its own reward system and Jax.Network isn’t different. The reward system is designed to compensate miners for the contributed hash power for the network. The value will remain stable because it exists within the shard chain of the blockchain platform. Moreover, to maintain value, the coins would be issued when the deflationary coins are burnt. The deflanatory coins include Jaxnet and Bitcoin. As a result, it will control the issuance and stop inflation. The biggest advantage is that the platform won’t have to deal with complicated and complex schemes to ‘eliminate’ coins out (from the circulation).

Miners are basically profit-oriented, which means that they naturally follow supply and demand law so they can maximize profits. When the price of the coins becomes high, miners will follow suit increasing their hash rate. They will mint more coins and distribute them. On the contrary, when the price is low, the natural activity will take place. What’s important is the steady and stable value can last for longer term, giving everyone profitable outcome in the end.

Benefits of the Platform

Naturally, Jax.Network offers some extra features and benefits that will offer promising profit on the long term.

Sharding technology. This is a pure art-of-state sharding technology, meaning that all validators, transactions, and accounts would be distributed between the shards. The verification of each transaction doesn’t require any preceding (transaction) history’s knowledge.

Equitable Merged mining. The platform utilizes merged mining technology and technique to protect the shards from the shard-over threats and attacks. The mining reward system is balanced and flexible, so each participant would be proportionally rewarded so the network can be maintained properly and correctly.

Universal Reward Function. The platform provides rewards based on the PoW protocol. As a result, it is expected that every Jax coin value would be equal across the platforms and even the universe.

Decentralized transfer ecosystem and technology. The platform is about robust and solid transfer ecosystem. It is based on the decentralized (exchange) protocol that helps with cross-shard transactions.

Final Words

If you are into crypto platforms but you are generally tired with the complication of the system, and especially with the scalability problem, then it’s worth looking into Jax.Network platform. Not only it offers unique ideas, but the technology is also promising and advanced. It brings many potential outcome and results for everyone, especially for users and miners. But if you want to take part in the future of payment system, then Jax.Network would be the ideal option.

Official Website: https://jax.network

Lite Paper: https://jax.network/wp-content/uploads/2021/06/Jax.Network-Lightpaper.pdf

Social Media:

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/

Posted by kurniawan05

Profile link: https://bitcointalk.org/index.php?action=profile;u=1187741