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.
Secure
With a robust mining and value transfer ecosystem, and a universal reward function that encourages network security, the JAX.Network protocol can boast the same level of security as Bitcoin or Ethereum.
Scalable
JAX.Network’s sharding solution allows an 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 Proof Of Work, Jax.Network employs an equitable merged mining solution and is not subject to general concerns of centralization.
A novel approach for solving the blockchain scalability problem
We based Jax.Network on a universal reward function, sharding, an equitable merged mining solution and a decentralized value transfer ecosystem.
Universal Reward Function
Jax.Network block reward is based on PoW difficulty and hence the expected value of each JAX coin is mathematically equal across the Universe.
Equitable Merged Mining
Our JaxNet 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.
Sharding
Jax.Network 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.
Decentralized Transfer Ecosystem
In Jax.Network, a robust transfer ecosystem following a decentralized exchange protocol facilitates cross-shard transactions.
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.
