NewsBTC
Scalability is a significant aspect of every blockchain-based solution. Several blockchain networks today, including the popular Ethereum and Binance Smart Chain, struggle with scalability issues. However, Jax.Network has established sharding as the absolute solution to this age-old problem. Using precise sharding technology allows the Jax.Network blockchain to scale the network as the demand for transactions grows.
Since blockchain networks are designed to handle loads of data every second, taking 100 GB per second worth of data requires careful scalability considerations. The JaxNet protocol uses a precise sharding strategy that doesn’t involve the conventional validator nodes. The decentralized sharding strategy makes Jax.Network the most promising scalability solution today, competing with Binance Smart Chain and Ethereum.
Unlike Jax.Network, other networks have a lot of validators, and they need to manage them. However, multiple validators within a network are drawbacks to scalability. Jax.Nework solves this through sharding. Jax.Network employs a pure-state sharding solution. In other words, you don’t have to download the whole blockchain to verify one shard. As a small node, it cuts down on your storage costs. So, at any point, any user will be able to verify his account balance, which is one of the pro points.
The JaxNet approach to sharding
The sharding technique on Jax.Network allows the network to handle a theoretically unlimited number of transactions per second. This level of scalability is incredibly advanced, rivaling traditional centralized modes of payment such as Visa. But how exactly does sharding work on the network?
Essentially, each shard works independently and can be seen as parallel chains. Therefore, data is split into multiple chains that grow as the network grows. The JaxNet protocol is responsible for regulating the total number of shards created within the network. They can only be created when some network parameters are met.
Although different blockchains have various approaches to sharding, the JaxNet protocol allows any node to contribute to as many shard chains as possible. As long as a node has the right qualifications (adequate storage and bandwidth) to participate in a specific shard, the JaxNet protocol will allow it to do so. This way, the network achieves significant scalability advantages since there is no fixed number of shards in the Jax.Network blockchain. One other peculiarity is that sharding is done through a Proof-of-Work consensus algorithm, which makes it the first sharded PoW network.
How sharding solves scalability issues
So, how exactly does sharding solve the perennial scalability problem facing several blockchain networks? Well, for starters, the technology ensures that a network can scale on demand and thus handle a significant amount of transactions per second (their team is still running stress tests). This is a novel feature in a blockchain network that is currently available only on Jax.Network. Ideally, due to sharding, the platform can grow to handle unlimited online payment transactions, completing transactions up to billions of dollars of JAX coins.
This solution is ideal for a project that aims to provide a practical online payment system. Today, billions of dollars change hands daily. An appropriate online solution that can handle a large volume of these transactions needs to be decentralized, secure, and scalable.
Sharding ensures that Jax.Network can provide fast online transactions using its native stablecoin JAX. This way, users can enjoy the benefits of a decentralized value transfer ecosystem that is secure and scalable.
Conclusion
Scalability is a significant aspect of any project that aims to revolutionize the online payment industry. Jax.Network put together a unique ecosystem based on sharding and merge-mining to provide us with a scalable yet highly secure blockchain.
To learn more about JAX.Network, visit their Telegram group or Twitter. Testnet will be launched soon where miners can earn additional rewards.
via NewsBTC