How can Jax.Network be used in everyday life?
by Maryna Trifonova, Head of Content at Jax.Network
Every now and then, throughout the history of humankind, a person comes up with a bold idea that can change the world. And guess what. He changes it. Certainly, not without the help of a talented team who gets infected by a revolutionary concept that lights up their hearts. Jax.Network is something more than just another tech company. It’s a mad man pursuing his dream of having a transparent, scalable, decentralized, and secure blockchain being used around the globe on a daily basis. Please read the article to learn how you can benefit from using our product.
Blockchain revolution
It goes without saying that blockchain technology has been one of the hottest topics for the past few years. And the interest only grows, especially with Bitcoin hitting a new all-time high. This cryptocurrency is commonly considered decentralized, secure, and valuable thanks to blockchain. And cryptocurrency is only one example, but there are tons of blockchain use cases out there. From supply chain management to secure record sharing and storage, blockchain changes the way we live and introduces cutting-edge solutions to old problems. However, the majority of people are still cautious about it. Why? Something is certainly missing.
Let’s take Bitcoin as an example. The largest cryptocurrency by market capitalization is struggling to be mass adopted. First of all, the issue of scalability of the blockchain network. It can only process 7 transactions per second. It’s a drop in the ocean, compared to Mastercard’s 1900 transactions per second. So, we see that there’s no point for people to switch to intricate blockchain-based digital currency such as Bitcoin.
Another drawback is high volatility. Most of you are aware of this problem and remember all the rapid surges and drops in the price of Bitcoin. So it’s no wonder why customers, merchants, business owners, etc., are reluctant to make any transactions via crypto. And, honestly, we can’t blame them.
Missing piece of the puzzle
As we already mentioned above, nothing is perfect, even state-of-the-art blockchain-powered Bitcoin. But that’s totally OK, as it left some space for Jax.Network to conduct comprehensive research and come up with a great solution to the blockchain problem that most cryptocurrencies face. Our Jax.Network has a highly scalable blockchain with Proof-of-Work consensus based on sharding and merged-mining. It means that our protocol meets 4 main criteria, namely:
- decentralization
- scalability
- security
- stability
We worked hard to execute such a complicated project and take pride in being the masterminds behind this brilliant technology. We believe that the Jax.Network blockchain is suitable for mass adoption and day-to-day payments, like grocery shopping or paying for a cup of coffee. In fact, our development can become a decent competitor to global payment platforms such as Visa and Mastercard. Bitcoin’s scalability issue isn’t a threat to us, as our Jax.Network blockchain can process a large amount of transactions per second, remaining secure and decentralized.
Just imagine how cool it would be to have a currency whose value won’t be affected by inflation. Today, tomorrow, and even a year later, coins will retain their purchasing value, unlike US dollar or Bitcoin, whose price fluctuations affect your pocket directly. JAX coins will always have a stable value denominated in hash rate, so it’s also a great way to protect your money. On top of that, you can use them to send funds to your family and pay your international suppliers at the lowest fees on the market.
Conclusion
The world is rapidly changing, and we need to keep pace with it, not to mention being better and faster than our market competition. Every day we make sure that our team is one step closer to making the Jax.Network blockchain being used by millions of people around the world on a daily basis. From the smallest purchases to large-scale cross-border transactions, you don’t have to wait any more worrying whether your money has traveled to the correct address. The Jax.Network blockchain can process lots of transactions simultaneously, so the receiver immediately gets the funds, regardless of the distance.
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