Jax.Network is anchored to the BTC blockchain that follows the JaxNet protocol and issues scalable, stable, and decentralized JAX coins.
KYIV, UKRAINE Jul 26 2021 (Blockchain Wire)
Jax.Network, a blockchain tech company with its own stablecoin, gets a University of Montreal professor on its team. Dr. Abdelhakim Senhaji Hafid reviews the project’s protocol on a regular basis and provides valuable inputs.
“After going through the Jax.Network Academic Paper and discussions with the technical team, I believe their protocol has strong and practical applications that can improve global payments systems. Remarkably, JAX coin may become the world’s first stablecoin that maintains its stability in purchasing power without the need to peg its coins to fiat currencies or assets. This paves the way for an ecosystem in which merchants and consumers are more comfortable exchanging value via crypto due to the reduced volatility and regulatory risk,” Dr. Hafid gave his comments on the JaxNet protocol.
Dr. Hafid is not only a Full Professor for the Department of Computer Science and Operations Research at the University of Montreal but also the founding director of Network Research Lab and Montreal Blockchain Lab. Dr. Hafid has published over 250 journal and conference papers; he also holds three US patents. He is an authority on blockchain technology, DLT, and next-generation networks. As a seasoned blockchain and DLT professional, he sees all the different angles of the protocol and helps to find the best ways of improving them in the most efficient way.
“With Dr. Hafid’s advisory and protocol reviews, Jax.Network will be able to grow incredibly fast and deliver all the planned solutions and more. We expect that our company’s stablecoin JAX will grab significant market share in the global payments market, outcompeting popular service providers,” Jax.Network’s founder Vinod Manoharan commented on the collaboration.
Jax.Network is anchored to the Bitcoin blockchain that follows the JaxNet protocol and issues scalable, stable, and decentralized JAX coins. The Jax.Network team aims at making these coins a universal standard for the quantification of economic value. Established in 2018, the company united professionals from all over the world to build a blockchain network based on the Proof-of-Work consensus mechanism and pure state sharding as a scaling solution. Jax.Network uses a specific merge-mining technique. It allows miners to mine multiple shards simultaneously without splitting their hashrate and get rewards proportional to their effort. Being an open-source project, the JaxNet protocol can be used by anyone to build new projects on top of it and contribute to the development of the ecosystem.