Crypto payments platform introduces a solution to scalability concerns with the help from co-inventor of blockchain
Since the release of the Bitcoin white paper exactly 13 years ago, blockchain technology has revolutionized several industries with multiple use cases, including facilitating money transfers, automated legal contracts, and providing traceability to the supply chain. And a blockchain project advised by the co-inventor of blockchain technology, Dr. Scott Stornetta, has decided to launch their mainnet on this very day. Jax.Network positions itself as an extension of the Bitcoin (BTC) network, fixing the scalability problem of the latter.
Through many years of research, the Jax.Network team believes they have found a solution to the Blockchain Scalability Trilemma. Jax.Network brings this to life as the first full-state sharded proof-of-work (PoW) network, introducing an approach for solving the scalability problem in blockchain networks like Bitcoin. The team believes they are well-positioned to achieve this goal due to the onboarding of Dr. Stornetta, one of the co-inventors of blockchain technology, as an advisor.
The project is an open-source protocol anchored to the Bitcoin network to build a universal standard for quantifying economic value. It also has a native digital currency known as JAX, the backbone of the Jax.Network’s blockchain value proposition.