{"id":78755,"date":"2022-09-16T15:06:32","date_gmt":"2022-09-16T15:06:32","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=98269"},"modified":"2022-09-16T15:06:32","modified_gmt":"2022-09-16T15:06:32","slug":"jax-network-has-surpassed-bsv-hashrate","status":"publish","type":"post","link":"https:\/\/lebanonnewsgazette.com\/jax-network-has-surpassed-bsv-hashrate\/","title":{"rendered":"Jax.Network has surpassed BSV hashrate"},"content":{"rendered":"

DUBAI, United Arab Emirates, Sept. 16, 2022 (GLOBE NEWSWIRE) —\u00a0Jax.Network<\/u><\/a>, a blockchain merge-mined with Bitcoin, has gained around\u00a01,200 Phash\/s<\/u><\/a>, which is two times higher than the average hashrate per day of Bitcoin SV (BSV), which has\u00a0568.87 Phash\/s<\/u><\/a>\u00a0at the moment of writing. The project is right on track to outcompete Bitcoin Cash (BCH) with its\u00a01.43 Ehash\/s<\/u><\/a>.<\/p>\n

Jax.Network utilizes a merge-mining algorithm that allows miners to dedicate their computational resources to finding a proof-of-work not only in its own network but also in the Bitcoin network. Thus, by reusing the hashrate of the Bitcoin network, the Jax.Network blockchain leverages enhanced security and puts a check on potential inflation compared to a standalone network.<\/p>\n

Such a technical solution offers increased\u00a0incentives for miners<\/u><\/a>. Apart from extra block rewards and transaction fees, miners, who decide to join\u00a0JaxPool<\/u><\/a>, an official pool by Jax.Network, can benefit from negative pool fees on BTC mining and up to a 1% bonus on BTC mining activities. It could be fair to assume that this offer helped to attract a lot of attention to the network, resulting in 1,200 Phash\/s of combined hashrate in less than two months. At the moment, that\u2019s nearly twice more than the BSV network.<\/p>\n

\u201cOnce miners test our network and understand how much more profitable it can be, we may see a rapid increase in hashrate. I would even assume that we might capture 100% of hashrate of the Bitcoin network,\u201d Vinod Manoharan, Founder of Jax.Network, commented.<\/p>\n

About JaxPool<\/strong><\/p>\n

JaxPool<\/u><\/a>\u00a0is a BTC mining subpool under a top-5 mining pool. Its goal is to merge-mine Bitcoin with the Jax.Network blockchain and provide miners with increased profitability.<\/p>\n

About Jax.Network<\/strong><\/p>\n

Jax.Network<\/u><\/a>\u00a0provides the technological infrastructure for a decentralized energy-standard monetary system. The Jax.Network blockchain is anchored to the Bitcoin network and issues two digital currencies JAX and JXN. Jax.Network 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.<\/p>\n

CONTACT Viktoriya Nechyporuk, Marketing Communications Lead \u00a0\u00a0\r\nCOMPANY Jax.Network\r\nPHONE +380 67 657 0029\r\nEMAIL viktoriya@jax.net<\/a>\r\nWEB https:\/\/jax.network<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"
DUBAI, United Arab Emirates, Sept. 16, 2022 (GLOBE NEWSWIRE) \u2014\u00a0Jax.Network, a blockchain merge-mined with Bitcoin, has gained around\u00a01,200 Phash\/s, which is two times higher than the average hashrate per day of Bitcoin SV (BSV), which has\u00a0568.87 Phash\/s\u00a0at the moment of writing. The project is right on track to outcompete Bitcoin Cash (BCH) with its\u00a01.43 Ehash\/s. [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,343],"tags":[],"yoast_head":"\nJax.Network has surpassed BSV hashrate - Lebanon News Gazette<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lebanonnewsgazette.com\/jax-network-has-surpassed-bsv-hashrate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jax.Network has surpassed BSV hashrate - Lebanon News Gazette\" \/>\n<meta property=\"og:description\" content=\"DUBAI, United Arab Emirates, Sept. 16, 2022 (GLOBE NEWSWIRE) \u2014\u00a0Jax.Network, a blockchain merge-mined with Bitcoin, has gained around\u00a01,200 Phash\/s, which is two times higher than the average hashrate per day of Bitcoin SV (BSV), which has\u00a0568.87 Phash\/s\u00a0at the moment of writing. 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