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Why Jax.Network supports Bitcoin

Jax.Network. Find out why Implementing JAX into the Bitcoin protocol could be used to promote early adoption of the coin.<br><br>A Scalable, Decentralized Stablecoin for DeFi. Join the Jax.Network.

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Why Jax.Network supports Bitcoin

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  1. Why Jax.Network supports Bitcoin jax.network

  2. The founder of Jax.Network, Vinod Manoharan, aims to build a fully decentralized stablecoin which is more reliable than USD-pegged stablecoins. One of the basic features of the technology is decentralization, which most stablecoins, including USDT and BUSD, have not been able to accomplish. jax.network

  3. Each shard has the same security as the entire network using Auxiliary Proof-of-Work. Jax.Network reduces the amount of information stored, but network resilience to 51% attacks remains the same. jax.network

  4. How Jax benefits from the Bitcoin blockchain 1. Curb shard inflation - Anchoring to the Bitcoin blockchain helps to reduce inflation that might take place across Jax.Network shards. Miners can merge-mine the Jax.Network beacon chain, shard chains, and Bitcoin. They can only mint JAX on the shard chain by burning their coming Bitcoin and JXN reward. jax.network

  5. How Jax benefits from the Bitcoin blockchain 2. Transfer value to JAX - This process helps reduce the rate of JAX issuance which aims to transfer the value of BTC + JXN into JAX. Miners can arbitrage what is the most profitable for them: mining BTC+JXN or JAX, depending on the market conditions. jax.network

  6. How Jax benefits from the Bitcoin blockchain 3. Promoting early adoption - Implementing JAX into the Bitcoin protocol could be used to promote early adoption of the coin. jax.network

  7. How Jax benefits from the Bitcoin blockchaint 4. Boost network security - Merge-mining both Jax.Network and the Bitcoin network provide an additional layer of security against 51 percent attack, provided the miners do their work on Jax.Network transparently and honestly. jax.network

  8. How Jax benefits from the Bitcoin blockchain 5. Prevent centralized intervention - By implementing the Proof-of-Work consensus, Jax.Network aims to build a fully decentralized payment system that third-party entities cannot take down. PoW ensures that anytime a miner on the network goes down, another one rises, and thus, contributes to the overall continuation of the network. jax.network

  9. How Jax benefits from the Bitcoin blockchain 6. Healthy miner rewards - Merge-mining both networks ensures miners can get block rewards and transaction fees in the form of JAX, BTC, and JXN. The rewarding system takes any of the following combinations: • JXN + BTC block reward • JAX block reward jax.network

  10. How Jax benefits from the Bitcoin blockchain 7. Anchoring Jax.Network to the Bitcoin blockchain contributes to the value of the Bitcoin network and ensures miners get JXN freely to stand for electricity costs and the additional costs associated with merge-mining. jax.network

  11. How Jax benefits from the Bitcoin blockchain 8. Complementary technologies - Jax.Network complements Bitcoin inadequacy by building a reliable decentralized payment infrastructure powered by a stablecoin. Jax.Network will add stability and scalability to the Bitcoin network and provide miners across both networks with additional rewards. jax.network

  12. Conclusion As you can see, there are endless benefits of anchoring Jax.Network to the Bitcoin blockchain. The network can curb inflation brought about by Moore's law of monetary economics, where a coin is devalued due to increasing hash power. JAX achieves stability and scalability in the Bitcoin ecosystem. Therefore, it can function as a reliable payment system which is non-volatile, decentralized, and scalable. jax.network

  13. Are you ready to join Jax.Network? Join Now jax.network

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