These past months have been quite stressful for all of us due to the surge in the cases of Covid-19 around the world. At the beginning of April, the situation finally improved, and we all were able to gather for the first international offline conference since the 2020 Future Blockchain Summit in Dubai. We can’t say how excited we were to meet other blockchain enthusiasts and discuss everything that had been happening these days in the blockchain space and share our main achievements.
Jax.Network was honored to be a sponsor and a speaker at the Blockchain Wave conference that took place on the sunny coast of Antalya, Turkey. We had a chance to meet the top members of the blockchain community, including the famous Bitcoin consultant Tony Weiss and the blockchain evangelist Evgeny Romanenko.
The relaxed environment of the hotel conference hall made the event more informal, so it reminded a gathering of old friends, who just happened to live in different parts of the world. The schedule of the event was quite tight, but we managed to find enough time for networking…
In our rapidly developing world, new technologies quickly become an integral part of our everyday lives. A decade ago, a very small number of people used Bitcoin. Today it’s hard to find a person who has never heard of Bitcoin or owned at least one cryptocurrency. The problem of keeping these digital coins safe comes at the forefront of many discussions now. The best way to do so is a cryptocurrency wallet. But what is it? And how does it work?
What is a cryptocurrency wallet?
Similar to a regular leather wallet, a cryptocurrency wallet is used to store your “funds” in one place securely protected from others. In other words, it’s a piece of software, hardware, or even paper holding your crypto address and the transaction authorization keys. Please note, there is no actual currency stored on a crypto wallet, as your cryptocurrencies aren’t physical money. Your cryptocurrency is digitally stored on the blockchain, but you need the keys on your crypto wallet to perform transactions.
A crypto wallet is just a special protocol that generates public and private keys. A public key is mathematically…
Nowadays, DeFi businesses have filled the market, and it may be hard to understand which one offers the best product or service. In that case, clients need to look for competitive advantages and find out whether they are relevant to their objectives. Unlike other companies, we at Jax.Network are ready to lay our cards on the table right here, right now!
What is a competitive advantage?
Every business needs a special feature that will attract customers and make them come back for more. This feature is often called competitive advantage. So, in other words, it’s something that allows a company to do the job better or cheaper than its competitors. Competitive advantage helps to distinguish one company from a wide range of other companies that offer similar products or services. It also helps to build brand loyalty, attract new customers, and set higher prices.
Generic competitive strategies
We have already established that competitive advantage is significant. Now let’s find out what forms of competitive strategies are there and how…
DeFi continues to be one of the hottest trends at the moment. Many new projects appear claiming to solve existing problems. This time the DAI stablecoin, developed by MakerDAO, has caught our attention. Let’s see how this technology could make the world a better place.
Overview of DAI
Dai (DAI) is a stablecoin based on the Ethereum blockchain network. It was introduced back in 2015 by the MakerDAO community and was built on the like-named protocol. The stablecoin is pegged to the U.S. dollar and supported by Ether, a native token of the Ethereum platform. However, as Dai is crypto-collateralized, its value is pegged indirectly, meaning that it mainly depends on ETH, BAT, and USDC, with the last two being added only in 2019 to reduce the forthcoming risks of the network.
Limitations of DAI
We don’t mean to bring ants to the picnic, but DAI is not that perfect in…
Digital tokens have been widely used for over a decade now, and naturally, there’s a reason for that. Blockchain technology that underlies in their basis represents a great value for many industries, primarily financial. However, not many people understand the purpose and operation of digital tokens due to their complex structure. Let’s slice and dice this unique technology that everybody is talking about.
Understanding Digital Tokens
The first thing you need to know about digital tokens is that there’s nothing to worry about. Thanks to the blockchain tamper-proof infrastructure, nobody else can access them but you. In a nutshell, a digital token is just a unit of cryptographic data that represents a specific amount of digital resources you can own, assign to another, or redeem later. It’s something similar to a casino chip, which you get in exchange for a certain amount of money, for example, $100. So digital tokens function mainly as a medium of exchange.
All digital tokens are divided into two big groups…
Stablecoins have been rapidly growing in popularity over the past year. This is mainly due to their reduced volatility and practicality in exchanging value. Read more to find out the implications of today’s stablecoins.
As the name suggests, stablecoins are cryptocurrencies that are pegged to an asset or fiat currency in order to minimize volatility. This results in a cryptocurrency that is stable in value. For example, the stablecoin USDT (Tether) is pegged to the US dollar, meaning that the price of 1 USDT is equal to the price of 1 US dollar and can be exchanged as such.
Stablecoins are a relatively new type of cryptocurrency, most having launched within the last few years, but are already taking over the crypto market in terms of trading volumes. Within the last 30 days (Feb…
Smart contracts are a lesser-known but important application of blockchain technology. Read here to find out what exactly is a smart contract and how it can be practically used in the real world.
By far the most well-known use of blockchain is cryptocurrency. This is because the distributed ledger technology makes for a great method to track and store value publically and allows digital currencies to be used securely and practically. Though blockchain technology is relatively new, it has already gained much notoriety for this cryptocurrency applications.
There are many valuable aspects that are inherent to blockchain technology, such as security, decentralization, immutability, borderless, public, and so on. These properties make blockchain technology very well suited for applications beyond just cryptocurrencies.
One of the most promising, yet under-the-radar applications is smart contracts.
What is a smart contract?
Smart…
The volatility in Bitcoin’s pricing has been the center of many discussions regarding this particular cryptocurrency. But what determines the price of Bitcoin? Read this article to learn about some factors that influence the price of Bitcoin.
Bitcoin has always been known for its infamous price volatility, which rather often can fluctuate by over 20% in just one day. And now, after enjoying an absolute bullish run in the past few months and sitting at $30,400 at the time of writing, people are shocked at how a currency that was worth just $3400 in March of 2020 can be worth this much now.
Unlike gold, oil, sugar, or other commodities, Bitcoin is a digital currency/asset and is not tangible. In other words, you cannot really see it or hold it in your hands. …
Properties that are inherent to blockchain technology are able to improve many business processes once implemented. Read more to learn about some practical uses blockchain has in the business sector.
Many people are aware that blockchain is the technology behind Bitcoin, Ethereum, and other cryptocurrencies. It is because of blockchain technology that these networks can stay secure and decentralized without the need for an intermediary. People trust these networks enough to conduct transactions on them, invest in them and also store their hard-earned money. In a sense, the word ‘blockchain’ has become almost synonymous with ‘cryptocurrency’ or uses limited to only a digital currency/asset.
Blockchain and cryptocurrencies have become increasingly popular in the business sector due to their inherent properties. …
Most of us know about the positive aspects of blockchain technology, however, it is just as important to know what flaws and limitations burden it too. Read more to learn about the limitations of blockchain technology.
With both Bitcoin and Ethereum once again on everybody’s mind, thanks to their incredible bullish runs recently, much content has been released regarding the benefits of cryptocurrencies and by extension blockchain technology.
Blockchain technology has many real and practical benefits such as security, decentralization, openness, transparency, etc. that can be applied across many sectors and industries from banking and finance to logistics and development. However, there are some notable drawbacks to this technology everyone should be aware of. …
Jax.Network
Jax.Network is a blockchain platform that follows JaxNet protocol and issues the decentralized, scalable, secure, and stable “JAX” coin.
