Decentralized stablecoin’s sharding solution brings scalability to Bitcoin

[Tnoy30]

A new stablecoin project says it has solved the problem of how to maintain a level price using market forces rather than huge stacks of fiat or locked crypto.

Jax.Network is a sharded proof-of-work blockchain anchored to the Bitcoin network on which two coins are mined: JAX and JAXNET (JXN). JXN is mined on the Jax.Network beacon chain, whereas JAX is mined on its shard chains.

JXN coin mining produces a fixed number of reward coins (20 coins per block), making it a speculative asset that reflects the value of the Jax.Network payments ecosystem. It is used to incentivize Bitcoin miners to merge mine Jax.Network and defend the beacon chain, to pay for gas fees for decentralized exchange agent listings and other transactions, and more broadly to serve as a secondary savings account for Bitcoin miners. In the long term, the company says it will incentivize BTC miners to continue defending the network even if the BTC mining rewards move closer to zero.
Source: Decentralized stablecoin’s sharding solution brings scalability to Bitcoin