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FAQ

What is Jax.Network?

Jax.Network is a blockchain platform that follows the JaxNet protocol. Jax.Network is anchored to the Bitcoin blockchain that issues two coins: JAX and JXN. JAX coins are created on top of Jax.Network shard chains. Their value is always stable, as it's based on the cost of 1 unit of computing power. They can be used as a stable payment method for day-to-day transactions. JXN is issued on top of the beacon chain of the Jax.Network blockchain. It has a fixed reward per block and can be used for speculative purposes and as a store of value. Learn more at jax.network.

What is the goal of Jax.Network?

Our goal is to establish JAX as a universal standard for the quantification of economic value.

What is JAX? How to quantify 1 unit of JAX?

The cryptocurrency created on top of Jax.Network shard chains is called JAX. It’s a unit of economic value as defined by the JaxNet protocol. If you are interested in knowing more about JAX you can read our academic paper.

What is the utility of JAXNET (JXN) coins?

To pay for the security of Jax.Network by incentivising Bitcoin miners to merge-mine Jax.Network

What is WJXN?

WJXN token is Wrapped JXN coin. It’s an ERC-20 or BEP-20 token.

Why do I need WJXN tokens?

WJXN tokens allow everyone to buy JXN coins at the lowest price and get a higher ROI in the future. Our prediction is that once the network gains adopters, its value will increase, thus, increasing the value of JXN coins.
For more information regarding the potential returns on your investment watch our video: https://www.youtube.com/watch?v=1Oh67wlFvlo

How can I buy WJXN?

You can get our WJXN tokens on Uniswap and PancakeSwap. Just follow this link for Uniswap and this for PancakeSwap. Please double-check the contract address before you buy any WJXN tokens from DEXs.
For more information, follow this link to read our guide on how to get WJXN tokens.

What is the difference between the Beacon chain coins and the Shard chain coins?

Beacon chain coins are an asset for people who wish to store value in our network and speculate on the value of Jax.Network. Beacon chain coins are deflationary and allow for only 10 transactions per second.

Are JAX coins good for DeFi?

Yes. JAX coins are stablecoins with a market-driven issuance rate, ensuring low inflation and stability in value (measured by the cost of hashrate). JAX coins are stable and decentralized. They are not pegged to any fiat currency, avoiding centralization that defeats the purpose of cryptocurrencies in the first place. JAX coins are not collateralized, so your capital does not have to be locked and stay idle to maintain value against highly volatile digital assets. JAX coins will bring the DeFi ecosystem to Bitcoin as an alternative stablecoin to hedge your risk, pay yields or for lending and borrowing operations, etc.

What's the Jax.Network’s solution for the Blockchain Scalability Trilemma?

The first sharded PoW network. Jax.Network introduces a novel approach for solving the scalability problem in blockchain networks based on a specific reward function, sharding, merged mining, and a decentralized value exchange ecosystem.

Why could JAX become mass adopted?

Technologically BTC and ETH have been proved difficult to scale. Anchoring Jax.Network to Bitcoin allows the latter to scale in a more sustainable way than Lightning and to have a network for daily payments with the same security level as Bitcoin. Besides all that, BTC is by default deflationary. People stand to hold deflationary assets and spend stable assets and inflationary assets. Since JAX is stable in value, which is measured in the cost of computing power, the chances of it being mass adopted are higher.

Is Jax.Network open-source?

Jax.Network is an open-source platform that is published on GitLab, so anyone can make a contribution and use it.

How can JAX coins be used?

The easiest way to transact using JAX coins would be to download our wallet application and use it for sending and receiving JAX.

How is it different from other cryptocurrencies?

Existing cryptocurrencies suffer from the following problems: they are deflationary, they can’t scale, they’re not user-friendly. JAX coin doesn’t have these three limitations.

How can I get/sell JAX coins?

You will be able to get/sell JAX coins through major exchanges after our launch.

How can I commercially benefit from the JaxNet protocol?

1) By becoming a miner 2) By becoming an exchange agent

How can I get JAX coins for free?

Follow news and announcements in our Telegram Chat.

Why should I hold JAX coins?

If you decide to hold an asset in our network, you should hold JAXNET coins or Bitcoins instead. You shouldn’t hold JAX coins. JAX is a transactional coin and holding it does not provide any financial benefits. Hence, it will be wise to utilize JAX coins only for consumption purposes.

Is the system friendly to newbies/average users?

The core protocol requires an intermediate level of expertise to use the network, however, we will facilitate the creation of different user-friendly solutions in our ecosystem such as light wallets, physical cards, mobile-tap applications, etc. They will help non-technical users and newbies to use our network without the need to understand our core technology.

How can I invest in Jax.Network?

You can invest by participating in Jax.Network’s private sale which will finance our company. In return, you will get a certain quantity of beacon chain asset coins which could shoot up in value when our technology reaches mass adoption.

I’m not a miner, can I become a exchange agent?

Yes, as long as you have liquidity in the network, you can join a exchange hub and stake your coins to facilitate cross-shard exchanges and earn exchange fees.

What are JXN coins useful for?

JAXNET is the Jax.Network beacon chain. Theoretically, anchoring to Bitcoin would be enough to ensure the expansion of the network. However, this would require the Bitcoin blocks to store certain data that is not useful for Bitcoin at all. For instance, the shard signaling system, for dynamic shard expansion or the k-coefficient will be in the beacon block header. Having this data on Bitcoin would force a hard fork. We want Bitcoin to stay true to itself, and for these practical reasons, it is necessary to have a beacon chain. Moreover, as Bitcoin block reward tends towards zero, transaction fees will increase. JAXNET coins do not have a capped supply, they will be used as a savings account on Jax.Network.

What transaction throughput can Jax.Network support?

Jax.Network can potentially scale to unlimited throughput as long as there is a demand and sufficient network resources for it.
Jax.Net mining pool is the official MP for the Jax.Network blockchain. It will start when mainnet is launched.

Is there a exchange hub where I can stake my coins to earn more?

Jax.Net exchange hub is the official exchange hub for the Jax.Network blockchain.
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On this page
What is Jax.Network?
What is the goal of Jax.Network?
What is JAX? How to quantify 1 unit of JAX?
What is the utility of JAXNET (JXN) coins?
What is WJXN?
Why do I need WJXN tokens?
How can I buy WJXN?
What is the difference between the Beacon chain coins and the Shard chain coins?
Are JAX coins good for DeFi?
What's the Jax.Network’s solution for the Blockchain Scalability Trilemma?
Why could JAX become mass adopted?
Is Jax.Network open-source?
How can JAX coins be used?
How is it different from other cryptocurrencies?
How can I get/sell JAX coins?
How can I commercially benefit from the JaxNet protocol?
How can I get JAX coins for free?
Why should I hold JAX coins?
Is the system friendly to newbies/average users?
How can I invest in Jax.Network?
I’m not a miner, can I become a exchange agent?
What are JXN coins useful for?
What transaction throughput can Jax.Network support?
Is there a recommended mining pool that I can join?
Is there a exchange hub where I can stake my coins to earn more?