Jax.Network Blog
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Jax.Network Blog

The security model of Jax.Network

by Iurii Shyshatskyi, Chief Scientist at Jax.Network

The security model of Jax.Network is based on the same principles as Bitcoin. Every chain in Jax.Network is secured by full nodes, which verify every block in the chain according to the protocol rules and share information with their peers.

For every shard chain, it’s important to have sufficiently many independent full nodes that jointly control sufficiently high hashrate. If hashrate is insufficient, then there is a risk of a 51% attack on the shard chain. That happens, when malicious actors aggregate higher hashrate than honest miners and use it to build a fork.

Honest miners in Jax.Network can merge-mine multiple chains, however, they are not obligated to mine all shard chains. So one might doubt that all shard chains have sufficient hashrate.

We address this issue by setting proper economic incentives. If a miner with high hashrate wants to maximize his income from transaction fees, he is interested in merge-mining as many shard chains as he can. Moreover, he can become an exchange agent and get even higher income from transaction fees. It will be important for his business to provide service on as many shards as possible.

Therefore, we believe that there will be a coalition of big mining pools that will merge-mine all shard chains and protect them from 51% attacks. If a malicious actor wants to attack any shard chain, he has to outperform this coalition of mining pools first.

Also, we highlight one important unique feature of Jax.Network: an attack on one shard does not compromise the whole network. Validity of any shard block or transaction does not depend on data from other shards. In contrast, in competitive sharding solutions, users have to trust that neither chain was ever compromised unless they know the complete history of all chains so that they can do the complete verification on their own.

This feature of Jax.Network is very useful for blockchain users as there is no need to download the data from all shards. They could be confident that transactions and account balances in their shard are correct no matter what is going on in other shards.

Don’t miss any announcement by subscribing to our social media accounts:

Official Website: https://jax.network

Twitter: https://twitter.com/CommunityJax

Facebook: https://www.facebook.com/network.jax/

Telegram Channel: https://t.me/jax_network

Official Group: https://t.me/jax_chat

LinkedIn: https://www.linkedin.com/company/jax-network/

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Jax.Network provides the technological infrastructure for a decentralized energy-standard monetary system. Our blockchain is anchored to the Bitcoin network and issues two digital currencies JAX and JXN.

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