JAXNET REVIEW

JAXNETWORK
Two of major issues that cryptocurrencies deal with today are: the instability of blockchain’s native token – the value of these tokens are unpredictable because of the value metric used for these tokens; and the global reception of bitcoin as a speculative asset, not a global currency like the United States Dollar or British Pounds.

These major problems are the driving forces behind JAX.NETWORK. Started in 2018, JAX was designed to give miners and users profitable coins that are both scalable and their value metric pegged on a more dependable system other than fiat currency.

With everyday tokens and cryptocurrencies, the coin’s value is hinged on the fiat currency equivalent. But with JAX.network, miners now know that the value of the coins they’re rewarded for mining each block of JAX is dependent on Hash value.

Jax.Network is highly beneficial to miners and users.
For miners, JAX NETWORK is the answer to the volatile nature of crypt0currencies. For users, JAX NETWORK is the answer to store of value that profits.

Jax is anchored on the bitcoin blockchain, making it secure and safe for miners and users. With Jax, miners and users are assured of a high-value coin that is stable in price as well as adopted for day-to-day financial transactions.

WHAT MAKES JAX DIFFERENT?
If you’re familiar with the cryptocurrency space, one thing you must have heard about is sharding.
Now, sharding means a system breaking its data storage into different locations. It is a database partitioning that breaks larger databases into smaller data known as shards.
For example, a large database is like a ball of orange. Sharding means cutting the oranges into smaller parts, with each part called a ‘shard’.

Sharding is done to allow for fast processing and mining on the Jax Network.
However, one of the major problems with sharding is that the different coins being mined will have different values because they’re mined differently, although on the same blockchain.
However, with JAX.NETWORK, merge-mining is the solution put in place to ensure that all mined coins have the same value.
Jax network has JAXNET coins and JAX coins.

Each coin is designed and used for different purposes, but are mined on JAX.NETWORK and bitcoin blockchain.

                          **JAXNET COINS**

It is mined on the JAX.NETWORK blockchain, with beacon blockchain adding new parallel chain to the network in an organized manner. Jaxnet coins are mined in same way as bitcoin – each block of JAXNET coin is mined over 10 minutes. Jaxnet coins is profitable to both miners and user. For miners, 20 jaxnet coins are rewarded to them after every mined block, while users can use the coins as a store of value. Jaxnet coins is the coins on which the whole Jaxnetwork’s value is built, therefore users can rest assured of increase in the value of the coins as more people demand for it.

JAX COINS: Unlike JAXNET Coins whose price is unstable, JAX Coins have a relatively stable price, making it a perfect reward for miners and a great incentive for them. Jaxcoins are mined through merge-mining, which allows Jax.network blockchain to scale and support a wide range of transactions at any given time.

JAX.NETWORK’s developers realized difficult and expensive it is to mine altcoin, so they (the developers) designed a reward system to incentivize miners on the blockchain.
Miners are heavily rewarded with Jax coins for each block of Jax.network they mine.

ADDED ADVANTAGES OF JAXNETWORK
Safe and secure network.
Low mining fees, which also means less gas will be consumed when mining.
Have proof-of-work sharding.
Jax.network has cross-shared exchange protocol.

CONCLUSION:

The fast scalability and security of JAXNETWORK makes it a perfect choice for people who need something new and refreshing, for both miners and users.

For more information kindly access the links below

Website : https://jax.network/
Litepaper: https://jax.network/wp-content/uploads/2021/06/Jax.Network-Lightpaper.pdf
Twitter: https://twitter.com/CommunityJax
Facebook: https://www.facebook.com/network.jax/

Author : DULO WEGNER
BTT PROFILE:
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