DUBAI, United Arab Emirates, Sept. 02, 2022 (GLOBE NEWSWIRE) — Jax.Network, a blockchain project building an energy-standard monetary system, is glad to enter the fifth year of its development. Throughout its four years of existence, Jax.Network has managed to design and launch a number of unique products and services and doesn’t plan to lose momentum.
Started up with a mission to solve the famous Scalability Trilemma, Jax.Network went far and beyond and built not only a truly scalable, decentralized, and secure network but an entire technological infrastructure for an energy-standard monetary system. Furthermore, it brings a stablecoin (JAX) to the Bitcoin ecosystem improving its scalability and stability. To support this ecosystem, Jax.Network built a variety of products and services, including but not limited to a DeFi platform, yield farming initiative, and decentralized wallets.
The blockchain company plans to surprise the community with more ambitious releases in the years to come. At the moment, the Jax.Network team is focused on increasing the hashrate power of its mining pool, which was launched earlier this year. JaxPool is the first mining pool to offer negative fees on Bitcoin mining.
“I’m proud to be the founder of such an innovative enterprise that is set to become a game-changer in the global crypto and blockchain industry. We spent more than three years on research and development of the protocol and key products, so even the bear market shouldn’t stop us from entering the top 100 coins by market capitalization,” Vinod Manoharan, Founder of Jax.Network commented on the occasion.
Jax.Network provides the technological infrastructure for a decentralized energy-standard monetary system. The Jax.Network blockchain is anchored to the Bitcoin network and issues two digital currencies JAX and JXN. JAX is a stablecoin pegged to the energy spent on mining, while JXN is an asset coin representing the value of the whole network. The Jax.Network team aims at making these coins a universal standard for the quantification of economic value. Established in 2018, the company united professionals from all over the world to build a blockchain network based on the Proof-of-Work consensus mechanism and pure state sharding as a scaling solution.
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