Jax.Network launches the TestNet v0.3.4 Beta
by Maryna Trifonova, Head of Content at Jax.Network
We are glad to announce the launch of our Test Network v0.3.4 Beta. It’s only a beta version, but you can already try it out using our blockchain explorer and decentralized wallet. We still have a lot to do before the launch of our MainNet, but we hope you enjoy the TestNet for now. Read the article to know more about the available features and those that will be rolled out on the MainNet.
Key features of the TestNet
- PeaceWallet, an open-source implementation of a basic wallet for Jax.Network, is already available. You can use it to send and receive coins. At the moment, it’s released as a third-party APK with full open-source code. Our developers are working on getting it listed on PlayStore and AppStore. Transaction confirmation times will be higher as it’s fully decentralized.
- Explore.jax.net is our blockchain explorer to explore the TestNet.
- You can get FREE coins from our TestNet faucet to check the wallet: https://testnet-faucet.jax.net/
- If you would like FREE Bitcoins from the Bitcoin TestNet, you can get them from the following link: https://coinfaucet.eu/en/btc-testnet/
- Run your own TestNet node by following the instructions here: https://gitlab.com/jaxnet/jaxnetd
- We will soon release a separate article with complete build instructions and a tutorial on how to run a full node on our TestNet.
- The issuance K-coefficient of JAX coins in the shards has been drastically reduced to facilitate easy mining of JAX on the TestNet. These TestNet JAX coins are not equal to the MainNet JAX coins, as the difficulty of printing them would be very low. The MainNet difficulty to print JAX coins will be higher.
- The JXN reward is the same as it would be on the MainNet.
- Hash-sorting has been implemented.
- The K-coefficient voting mechanism has been implemented.
- Exchange agent listing and protocol level decentralized exchange mechanisms have been implemented. However, they are yet to be implemented into PeaceWallet.
- The unique reward function, merge-mining, and PoW sharding have been implemented.
- The Proof-of-Value mechanism has been implemented, although only for CPU miners at present. ASIC compatibility for BTC merge-mining is still under testing and will be released soon.
- The Orange tree encoding scheme has been implemented.
Features to be available on the MainNet
- When the MainNet launches, there will be a semi-centralized or centralized wallet that can provide instant transaction confirmation and then reconcile the transaction on-chain within 15 minutes.
- Currently, most transaction outputs are displayed in hex. We will improve the interface of the blockchain explorer to ensure that the output will be in the string format, before the launch of the MainNet.
- The decentralized cross-shard exchange mechanism hasn’t been implemented in the decentralized wallet, and a patch for the mobile wallet with support for cross-shard transactions will be released shortly.
- Our public sale is coming soon. We will be selling Wrapped JAXNET (WJXN) tokens and a swapping bridge for MainNet JXN will be established when our MainNet goes live.
What are the differences compared to the MainNet?
- On the TestNet, the difficulty will be low as we don’t entice a lot of miners.
- The merge-mining script that we use to merge-mine the Bitcoin network and Jax.Network is not as efficient as it’s supposed to be. Before the launch of the MainNet, we will provide an optimized mining pool dashboard and merge-mining software, which will allow merge-mining Jax.Network along with Bitcoin in a very efficient way with minimal hashrate loss.
- The burn addresses we use are temporary, and before the launch of the MainNet, we will release the “Choice of Network boot parameters” document, which will detail the burn addresses on the MainNet.
- The network transaction speed may not be as fast because the decentralized network may have a payment confirmation time of between 15 seconds to 10 minutes. But, on the MainNet, through our Exchange Hub, you will get instant transaction finality through off-chain payment channels, which are settled on-chain in batches every 15 minutes.
- The economics paper which details the economics of JAX coin will also be released before the MainNet launch.
If you find any bugs, please notify us, and we will fix them immediately. Right now, we are in the process of seeking commitments from different miners who can defend our network at an early stage. If you are a BTC miner, feel free to contact us and merge-mine our TestNet while you are mining Bitcoin. We can help you set all the scripts and even work out some compensation for your assistance with tests. Please, contact us via our Telegram chat if you would like to support us during this phase to fine-tune our settings.
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Official Website: https://jax.network
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Official Group: https://t.me/jax_chat