We are pleased to announce our next AMA on June 2nd 2021 at 01:00 PM UTC Time: Satoshi Club x Jax.Network
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Jax.Network Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Jax.Network Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Jax.Network
For more details:
Jax.Network Website – jax.network
Jax.Network Telegram – @jax_chat
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Jax.Network was live last year, but went a little bit silent this year. After that, suddenly we’ve heard that Jax.Network announced to anchor to the Bitcoin network. Why the project was silent for a while and what is the idea behind to anchor to the Bitcoin network? What is behind that decision and what benefits will that bring to the project?
Jax.Network co organized the 9th BlockchainUA conference in Kyiv, Ukraine at May 19, 2021. The CTO TARAS EMELYANENKO and Chief Economist LUCAS LEGER speak on the Technical and Product stages. How was the response and interest from the crowd there? Also you distributed lots of branded gifts to the community. What is the importance of this conference and do you plan to more conferences in the future?
I read that Merged Mining Proof or MMP is the backbone and the key innovation of JaxNet protocol. Can you tell us more about this? What is this Merged Mining Proof that has been implemented on JaxNet and why is it the backbone of it? What makes it so important? Also, you’ve said that is the key innovation, what makes it so innovative comparing it to other mining schemes?
I read that on Jax.Network there are two main roles; miners and transfer agents. But if I’m honest with you I didn’t understand what exactly a Transfer Agent is, so, can you tell us more about this particular role? What is a Transfer Agent and how can someone become one? What is their main function within Jax.Network’s ecosystem? Also, what are the benefits that could come along with this title?
I read that one of the benefits that Jax.Network offers to it’s users is that you have an stablecoin that it’s not exposed to the centralization risks that USDT, BUSD and many other existing stablecoins currently have. Can you tell us more about this your stablecoin? How is it possible for it to not suffer from the speculation and other problems stablecoins deals with at this moment? What makes it different? Also, what advantages does this bring to users?
Teestnet are good for projects to detect the minor bugs and it is good for users to get use to the system. When do you plan to release Jax Network testnet? Will it be incentivized?
Can you tell about the decentralization of Jax Network? Many projects mislead investors by introducing themselves as decentralized but afterwards it appeared they were quite centralized. Do Jax Network really decentralized? Will Jax Network stay decentralized?
When do you plan to release the native $JAXNET coin? What will be the use care of $JAXNET and will there be some rewards for holders?
Jax.Network has a highly scalable blockchain with proof-of-work consensus based on chunking and blended mining. It means that your protocol meets 4 main criteria, namely: decentralization, scalability, security, stability. How does Jax.network meet these four criteria?
Every day they make sure their team is one step closer to making the Jax.Network blockchain used by millions of people around the world on a daily basis. What are you doing to reach more people each time? And how are you promoting yourself with those people who are not yet so related to the crypto world?
I believe that competing in a specific market with the same quality of product or service as the competition is useless. The only strategy that can be used here is price competition, but eventually someone else will replace it in the long run. What features does Jax.network have to be better than the competition? there are generic competitive strategies. But what are the strategies that jax.network applies to distinguish itself from the competition?
Now that Jax Network decided to Anchor to the Bitcoin network, It is stated in one of your articles that users will be faced some disadvantages which includes increased transaction costs on the network, and misunderstanding of your Proof-of-Value mechanism, so how do you intend to overcome the challenges of transaction cost, and can you explain the concept of your proof-of-Value mechanism, and how you intend to get your community and users to understand this concept…
Jax network intends to achieve A Scalable, Decentralized and Secure Blockchain by anchoring to Bitcoins’ blockchain. The project that comes to mind which has a similar aim of bringing scalability to Bitcoin is Blockstacks, which at the moment is more popular than Jax Network. So how is Jax Network different from Blockstacks, do you see Blockstacks as a competitor in terms of what both of your projects intend to leverage on Bitcoin’s blockchain for, and how do you intend to remain a key player among projects who intend to achieve scalability by anchoring to Bitcoin blockchain..
One of the features of Jax Network is that they implement their merged mining in an equitable way ensuring that it’s mining reward system is flexible and balanced.. so what do miners who participate in your merged mining get to benefit for doing so, and how do you ensure that mining rewards are distributed to miners in proportion to their efforts in maintaining your network in an suitable and fair manner.
Merged Mining Proof (MMP) is the backbone and the key innovation of JaxNet protocol and it is a tool that allows anyone within the particular shard to estimate how manyshards were merge-mined. Shard Merkle Tree and Magic hashes are the two features in JaxNet protocol which allow proof of mergedmining to work. How does the Shard Merkle Tree and Magic hashes work in your ecosystem? How does this two features function such that in JaxNet protocol, any miner can merge-mine multiple shards simultaneously?
Jax.Network blockchain is said to be suitable for mass adoption and day-to-day payments, like grocery shopping or paying for a cup of coffee. In fact, you claim that your development can become a decent competitor to global payment platforms such as Visa and Mastercard. This is impressive! What are the unique features and development in your ecosystem to achieve the mass adoption? How soon should we be expecting this adoption? Are there any difficulty you are facing to achieving these goal? How do you intend to overcome this difficulty? Thank you.
Recently you’ve announced the merge-mining Bicoin on your network, and you’ve been very honest about the pros and cons that it brings to your platform, personally I like that honesty, but can you share some updated details about the implications of this anchoring to the Bitcoin network and how is the market volatility affecting your economic model now?
Merged mining is a core feature on your ecosystem, I saw it’s anchored to Bitcoin, in recent months the scandal about the high demand for computer resources of these activities has been detrimental to the cryptocurrency market, can you tell us your position about consumption of electrical energy of your features and how do you plan to contribute to make these functions more ecological?
Why Jax Network uses Proof of Work? What are the advantages of Proof of Work against to the Proof of Stake?
Jax Network aims to make the coin a universal standard for the quantification of economic value. Could you explain what does it mean?
Jax Network uses sharding so that accounts, transactions, and validations are distributed between shards. Could you explain more about the background of sharding in Jax Network?
Jax network operates using a very interesting concept that combines sharding or fragmentation with merged Mining, so can you please explain us exactly how both elements mix together?
At difference of the modern cryptocurrency projects that use the PoS consensus, but you use the PoW consensus like BTC, so can you tell us why do you decided keep using this model ? Also will you create a custom version of the PoW?
Jax tokens will be migrated from the ERC-20 technology to its own Mainnet, so can you give us a little description about how much strong will be you Mainnet in comparision with Ethereum? Will it be more scalable?
I just got noticed that JAX network has 2 different type of tokens, the JAX and the JAXNET, so can you explain us which roles both token have into the ecosystem? Why 2 tokens instead use just one to everything?
security is one of the most important issues of any project, in the case of Jax.Network, I have read that you consider yourselves a secure blockchain, but what makes you consider yourselves in such a way, how can you prove to us that you are really secure and that this is an important point for you?
Having already established blockchains in the market, how will you position Jax.Network in the cryptographic community, what unique features will allow you to compete with the large blockchains that currently exist and with those that are beginning to make a name for themselves in the market?
What utilities does Jax.Network present to the community that other chains do not currently have, how can they prove to us that they are a revolutionary project and that they are not just another copy of the pack and that they are really working hard to gain a foothold in this vast and fierce market?
Jax.Network uses a Proof of Value mechanism that is considered a “coinbase hack”, can you explain more about this mechanism? What is it used for and what are it benefits?
As I understand, Jax.Network is entering the market with a stablecoin proposal, how do you plan to approach the issue of the adoption of your products in countries that suffer from hyperinflation every day? Is Jax.Network a solution to the lack of decentralized payment methods in this type of population?
Traditional blockchain networks ussualy have one native digital token. Is there a reason why JAx Network have two tokens? wat are the features of each token?
Every project needs a special feature that will attract customers. Can you tell us about your competitive strategies? if there is many crypto projects why should users look up for Jax Network?
when will you Launch of TestNet? Which of the objectives of the JAX roadmap are you currently working on? What should users expect?
As I know Jax.Network uses a technique called ‘Sharding’. What is this technique? and how does it represent an improvement in mining? What are the main advantages of this technique?
Jax.Network is anchored to the BTC blockchain that follows the JaxNet protocol and issues scalable, stable, and decentralized JAX coins. What makes JaxNet protocol directly anchored to the Bitcoin ecosystem? What functions does Jax.Network adopt from BTC, what advantages does it have thanks to such a connection, and what problems does it solve?
Jax.Network had the honor to co-organize the 9th BlockchainUA conference in Kyiv, Ukraine, that took place on May 19, 2021. What was the purpose of this conference, what presentation did your team give? I know that Ukraine has been under strict quarantine for a long time with periodic lockdowns. In this regard, how was BlockchainUA organized, how did it go, and how was Jax.Network accepted at the conference? Did you acquire something new for the further development of the project thanks to this event? Can you tell us about any other significant events for Jax.Network?
Jax Network is anchored to the BTC blockchain. Most people do not regard Ethereum and Bitcoin as currencies, but as assets, and rarely find sellers who accept btc or eth as payment methods. So, what solution does Jax Network propose to popularize cryptocurrency in daily use?
Given that JaxCoin is anti-inflationary, how does this potential technology work in Africa or Latin America, where hyperinflation is currently a problem?
As I read, Jax Network has found another way to reward the miners, which is completely different from Bitcoin and so on. Can you elaborate this? How are miners in the Jax network rewarded? And how the distribution process?
JAX Network is based on the BTC blockchain ecosystem. In academic paper of jax network mentioned that the mining process relies on merged mining. What is the protocal that miner should follow up? Is it possible to mine BTC also just like JAX coins? Can any body mine through the JAX Network?
Your website states that the $JAX coin is a stable coin and it will better than BTC due to the deflationary of BTC. It means, $JAX coin is like USDT,USDC,DAI. $JAX coins are only consumption purposes for the transactions and JAXNET are the assets that users should hold to commercially benefit. What are the benefits that the JAX network users receive by holding $JAXNET? Do you think, $JAX coin will get more attention like BTC through out the crypto ecosystem? If yes what are the strategies that JAX Network team expect to launch in order to accomplish that goal?
JAX Network involves with transactions. Should there be $JAX coin to do transactions?How much is the fee of JAX network for a transaction? How do we get $JAX coins? Do you have any idea to launch airdrops,giveaways,contest to spread $JAX coins in crypto ecosystem?
On the site jaxnet.totonis.site, which also belongs to you, as I understand it, I found 3 applications that are offered for download: Jax.net wallet, Mining pool client and Transfer hub client. Can you give a small description of each application, what they are, is this information relevant and are applications available for download at the moment?
There is a super-light client in Jax.Network that reduces the volume of data required for synchronization to the blockchain and it is called FlyClient. Jax.Network incorporates the idea of FlyClient in its design. So if you have this characteristic of FlyClient,do you also have client that is opposite to FlyClient? How could you see FlyClient as a strong strength of Jax.Network? What is it’s weaknesses? Aside from being mentioned,can you tell us more about the characteristics and good benefits that FlyClient brings to Jax Network?
According to your website Jax.Network is better than Bitcoin in which technologically BTC does not scale, however JAX coin scales based on a demand which allows mass adoption. Also, BTC is deflationary while JAX is stable. So,why did you choose to compare Jax.Network to BTC but not other tokens or coins? What makes Jax become stable? As we know BTC runs a long time already in the market and it’s value keeps increasing as time goes by,so how will you make Jax become stable and increase it’s value to the market and to stay in the market for a longer time just like BTC? Thank you
How can I learn how to build a trading algorithm on Jax Network and invest in your platform? Are special skills required?
Hello, I am seeing that Jax.Network based on a universal reward function, sharding, an equitable merged mining solution and a decentralized value transfer ecosystem.Most importantly Jax network trying to solve the blockchain scalability trilemma,and most important aspect of solving this problem is sharding. But what is the reason of inclusion of equitable merged mining?And how merged mining will benifit the network?
Hi JAX!
You went above and beyond and created full scale Academic paper when most of the projects limit themselves to a much shorter whitepaper or even a few pages long litepaper. Please share some details about writing the paper, how long did it take to publish? Were there any obstacles on the way worth mentioning? Thank you for such a solid approach to the project!
As far as I have read and researched, JaxCoin is not tied to any coin or token or currency. So, what economic incentives does JaxCoin use to guarantee a stable and sustainable economy?
Why should a user join the JAX NETWORK project? Does JAX NETWORK provide special features given to participating users? What kind of advantage does a user using Jax Network have?
Can you explain how the Tokens are Distributed? How many tokens will be distributed? And how many coins will be staked and locked by the team? Where can investors buy Tokens most easily?
Hi JAX!
I see Jax.Network participated at the 9th BlockchainUA conference in Kyiv! Are there any exciting partnerships that you made there you can tell us about? Is your team mostly from Ukraine? Do you have remote team members from across the globe?
Jax Network said that every user that use your blockchain, they will never experience High Gas Fees on transaction. Actually there are already exist blockchain with low transaction fees out there for example solana, bsc, so what makes Jax Network different? Do you have special feature that makes your project unique?
one of the important things is partnership! would you like to share some of the partnerships you have formed with the blockchain foundations that have been around recently?
During the 2020 and 2021 I got scammed a few times, rugs, exit scams etc. my question, how can we investors be sure that this will not be similar, are your contracts public & somewhere to be seen???
Does your project have a role in improving the living standards of the neglected population? Do you plan to educate and make people aware of your project?
Could you tell us more about your team and their backgrounds? many projects launch with inexperienced team members and fail to get any real traction later on.??
After checking and learn about Jax Network in your site, I found interesting statement. You said only 2 ways to get income or profit from Jax Network. The first is with become a miner and the second is with become one of ‘transfer agent’. So actually what is this transfer agent mean? How does the system and mechanism work to get income? And what must I do to become a transfer agent?
Can you share some more insights on #JAX.NET as to the long term plans of the project keeping in mind the stakeholders interest & adoption in the real world without compromising on regulatory front?
I’m really exciting with Jax Network because we possible to mining inside your platform. But I dont understand how does the mining system work. Is it have same system like mining bitcoin which have “halving” System for every 4 year? Can you explain how is your mining system work?
On your platform, you talk about competitive strategies, more specifically about the focus strategy (targeting one part of the market and not everything). Can you tell us which market sector you are targeting and how will you take it?
Said by yourself, your transfer costs will be a little higher than the current market, can you explain the reason for this and tell me what is the difference in transaction costs of your network to those that previously exist?
What are the benefits for miners joining JAXNET?
Hi JAX!
You advertise that JAX will increase mining opportunities and reduce the risks for miners. Could you please tell us more concrete details about how your project will benefit miners? Will you concentrate solely on BTC mining or plan to expand to other coins including the defi sector? Thank you