Technical

What are the min requirements for running a node?

Requirements depend on the type of the node and the number of shards that it maintains. For example, the full shard node, which maintains a single Bitcoin node, 6 fully loaded shards and the beacon chain, has the same requirements as 5 full Bitcoin nodes working in parallel.

How fast are transactions?

It depends on the transaction volume. Jax.Network doesn’t provide instant transaction finality as any other blockchain. We expect that a casual transaction will be included in the chain and get three-block confirmations in around a minute. However, it’s recommended to wait for more block confirmations when a huge sum of money is transferred through a single transaction. If you need instant transactions, we recommend you to become a member of any exchange hub which will issue you instant transaction devices via physical cards or mobile tap for a fee.

Are anonymous transactions possible?

Transactions in Jax.Network don’t reveal any data about participants except their public keys. It works similarly to Bitcoin and many other blockchains. However, Jax.Network doesn’t provide an option of untraceable transactions similar to the one used in Monero, ZCash, and other blockchains focused on privacy.

What is the total emission of JAX?

The emission of JAX is unlimited. However, the minting of new coins requires natural resources that are limited.

What is the total emission of JXN?

The emission of JXN is unlimited at a fixed rate of 20 JXN per beacon chain block. However, at a certain point in the future, the impact of the 20 coins on the total supply will be negligible.

How secure is the system?

The network is secured by Proof of Work executed by miners of the Bitcoin network. Code wise, our system, therefore, relies on the well-known and secure code-base used in Bitcoin core. Check our GitLab, to review our code.

How is Jax.Network decentralised?

Jax.Network is the permissionless blockchain network based on the PoW consensus. Its decentralization is comparable to the decentralization of Bitcoin.

What is the consensus algorithm?

Jax.Network’s design is based on the SHA-256 Proof-of-Work consensus algorithm which includes a setting convenient for weak nodes so that they can manage their workloads by managing the number of shards they are participating in.

What is the block reward function?

The Jax.Network mining reward system is flexible and balanced in terms that every participant is rewarded proportionally to his effort in maintaining the network across all the shards they are mining. Small mining farms with little bandwidth and storage and big mining pools can coexist in Jax.Network.

What is FlyClient?

Jax.Network incorporates the idea of super-light FlyClient described in the paper by Bunz et al. The super-light client reduces the volume of data required for synchronization to shard chains in Jax.Network.

How is difficulty calculated?

The mining difficulty is calculated as the expected total number of hashes calculated by the whole network before somebody will find the block with a good hash. You can find the detailed description in our academic paper.

How do we ensure the security of all the shards?

Since our system allows for merged mining, all the shards can share the same hashpower and hence making it difficult for a malicious miner to overpower a shard.

Can I mine as an individual miner?

You can be an individual miner if you have access to a great amount of hashpower. However, if you don’t have a lot of hashpower, it’s recommended that you join a mining pool that will provide you with regular mining rewards in exchange for a fee. Also, our official mining pool is linked to our official exchange hub and can help you earn extra profit by also staking your tokens for the purpose of facilitating cross-shard transfers in our system.

What hashing algorithm is used to mine Jax.Network?

Jax.Network uses the same hashing algorithm as Bitcoin, SHA-256. Anyone holding this type of rig can merge-mine our network.

Could you please recommend the best equipment to merge-mine JAX and BTC at the same time?

Any SHA-256-compatible mining rigs will do the trick. The only difference is how efficient these rigs are, therefore, how profitable.

Does merged mining lead to centralization?

No. Merged mining in Jax.Network is designed to keep the balance between strong and weak nodes. Such design doesn’t cause the centralization of mining. To know more about our merged mining design, please read our academic paper.