Jax Ico Review: Extends Bitcoin By The JaxNet Protocol.

Jax Ico Review: Extends Bitcoin By The JaxNet Protocol.

About Jax Ico

Jax is anchored to the BTC blockchain that follows the protocol and issues scalable, stable, and decentralized JAX coins. A single global currency that’s decentralized is needed for a global economy. Bitcoin is a partial solution to this need, however it suffers from scalability problems which prevent it from being mass-adopted. Also, the deflationary nature of bitcoin motivates people to hoard and speculate on them instead of using them for day to day transactions. They anchored to the BTC blockchain that follows the protocol and issues scalable, stable, and decentralized coins. They aim at making these coins a universal standard for the quantification of economic value.

They propose a scalable, decentralized cryptocurrency that is based on Proof of Work. The solution involves having parallel chains in a closed network using a mechanism
which rewards miners proportional to their effort in maintaining the network. The proposed design introduces a novel approach for solving the scalability problem in the blockchain network based on merged mining

Jax Ico Key Information

KeyPoints
Token NameJax ico
Short NameWJXN
ico Price0.77 USD
Soft Cap1,000,000 USD
Available For SaleN/A
Personal CapN/A
Total Supply40,002,163 WJXN
AcceptETH, BNB
PlatformBinance Chain, Ethereum
LanguageEnglish
Support24/7
Token TypeERC-20, BEP-20
WhitepaperClick Here For View Whitepaper
WebsiteClick Here For Visit ICO Homepage

Feature

Secure

Jax Ico 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

They 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 Jax Proof-of-Work, Jax.Network employs an equitable merged mining solution and is not subject to general concerns of centralization.

Security

A blockchain network is a rather complex system which could be attacked from multiple vectors. They will discuss those which are specific to blockchain designs and most relevant for JaxNet security

Technology

Jax Ico based Network on a universal reward function, sharding, an equitable merged mining solution and a decentralized value transfer ecosystem.

Universal Reward Function

The Network block reward is based on PoW difficulty and hence the expected value of each coin is mathematically equal across the Universe.

Sharding

They uses pure state sharding. It means that accounts, transactions and validators are distributed between shards, so that verification of a certain transaction doesn’t require any knowledge of the preceding transaction history in other shards.

Equitable Merged Mining

The Jax protocol is based on the merged mining technique to secure shards from shard-over attacks. Its mining reward system is flexible and balanced. Hence, every participant is rewarded proportionally to his effort in maintaining the network.

Decentralized Transfer Ecosystem

In Jax.Network, a robust transfer ecosystem following a decentralized exchange protocol facilitates cross-shard transactions.

Merged mining proof

Merged Mining Jax Ico Proof or MMP is the backbone and the key innovation of the protocol.
According to the protocol, any miner can merge-mine multiple shards simultaneously.
MMP is a tool that allows anyone within the particular shard to estimate how many
shards were merge-mined. MMP is the proof that certain miner, who merge-mined the
particular block, was not mining a particular subset of shards.

One Blockchain, Two Coins

JAX coin

The cryptocurrency created on top of Jax.Network shard chains is called. 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 Jax issued on top of the beacon chain of the Jax.Network blockchain is called (JXN). It has a fixed reward per block and can be used for speculative purposes and as a store of value.

Value

The shard coin value is about to converge toward the same value on every shard. In short, if the value of the coin on one shard will be higher than on another then they expect miners to mine on the first shard: on average mining each coin requires the same effort but the first one is more valuable. Soon values of both coins will become equal.

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  • crypto-com-chainCrypto.com Coin (CRO) $ 0.633072
  • matic-networkPolygon (MATIC) $ 2.31
  • binance-usdBinance USD (BUSD) $ 1.00
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 53,895.00
  • litecoinLitecoin (LTC) $ 190.68
  • algorandAlgorand (ALGO) $ 1.76
  • chainlinkChainlink (LINK) $ 23.60
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