Cryptocurrency is notoriously volatile, which reduces mainstream participation and limits its use (generally) as a usable platform of exchange for goods and services. The stablecoin is a low volatility version of a cryptocurrency. Reducing volatility can be achieved in a number of ways, including backing the coin with a stable asset.
Stablecoins are useful for investors who want to keep their assets in the crypto space. Switching from crypto to fiat currency can be expensive and time consuming. Stablecoins give investors the best of both worlds — a stable asset within the crypto space with an advantageous transactional speed.
Because of the relative stability, stablecoins also have an easier time staying in compliance with regulators. The Jax.Network is anchored to the BTC blockchain that follows the JaxNet protocol and issues scalable, stable, and decentralized JAX coins
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 provides a cheaper and more secure way of transferring funds around the world than any other existing payment system. Our JAX coins aren’t afraid of inflation, centralization, and system failures. They can be easily used for day-to-day payments as well as cross-border transactions, no matter the amount and the distance between a sender and a receiver.
What are the official contract addresses of WJXN?
Our official contract addresses are:
BEP-20: 0xca1262e77fb25c0a4112cfc9bad3ff54f617f2e6
ERC-20: 0xcA1262e77Fb25c0a4112CFc9bad3ff54F617f2e6
Please, ensure that you only buy WJXN tokens of these contract addresses as there’s a chance of scammers copying these contracts and trying to sell you counterfeit tokens. For assistance, please contact us on Telegram: https://t.me/jax_chat.
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.
The scalability issue can be addressed in many ways. We at Jax.Network consider sharding as the best solution at the moment. This technology not only helps to scale JAX coins but also provides extra ways for people to earn money on our blockchain allowing them to become exchange agents or liquidity providers.
Incentives for miners
As you already know, Jax.Network has an unlimited supply of JXN (JAXNET) coins set at a fixed reward of 20 coins per beacon shard in Jax.Network. So if you choose to mine Jax.Network, you will get not only transaction fees of all three coins (JAX, JXN, and BTC) but also one of the following two combinations: BTC + JXN or JAX.
Pay attention to the fact that you get JXN coins almost for free, meaning a slightly increased cost of merge-mining. But in case you choose JAX coins as a reward, you will have to send your BTC and JXN to an invalid address. This Proof-of-Value mechanism controls coin issuance and fixes inflation problems on our shards. We at Jax.Network worked hard to create the protocol that ensures there’s always an incentive for miners to merge-mine Bitcoin network and Jax.Network.
Unlike other stablecoins, our JAX coin scales through math and its equilibrium price is purely market-based. It’s not collateralized by any asset but rather pegged to the hashrate, i.e. the cost of one unit of computing power. So 1 JAX is backed by 1 unit of hashrate. That is a universal exchange rate that guarantees all JAX coins are mathematically equal around the world. Of course, more efficient miners will have a slight market advantage compared to less efficient miners. However, these differences account mostly for access to cheap electricity.
The scalability issue can be addressed in many ways. We at Jax.Network consider sharding as the best solution at the moment. This technology not only helps to scale JAX coins but also provides extra ways for people to earn money on our blockchain allowing them to become exchange agents or liquidity providers.
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:
Forum Username: PikkkLisaa
Forum Profile Link: https://bitcointalk.org/index.php?action=profile;u=3198434