Jax.Network is a blockchain protocol for enhancing decentralized payments in a secure and scalable environment.
The protocol is anchored to the bitcoin blockchain to increase efficiency and boost BTC network scalability. Jax.Network’s scalability is world-class and makes it suitable for mass adoption, practical day-to-day transactions, rewarding miners, and a fast network for processing transactions.
The CEO and co-founder of Jax.Network, Vinod Manoharan, envisioned building a genuinely decentralized global payment system. After several years of research, Manoharan and his team built and deployed one of the world’s most decentralized and scalable ecosystems featuring a stablecoin, two tokens, and a merged-mining algorithm.
In this article, we consider the use case of Jax.Network as a payment system and compare it to Google Pay. In our verdict, we want to see which beats the other. Well, fasten your bootstraps.
Jax.Network as a Payment Processor
Jax.Network holds a decentralized cryptocurrency whose purchasing power remains stable. Unlike most digital currencies, JAX coin is not subject to regular and unexpected crashes. The coin is not pegg to any fiat currency or doesn’t need heavy collateral to function. Issuing the coins follows a strict set of rules that prevent volatility and enables transaction validators within the network to expect rewarding payoffs and adjust their hashrates depending on their anticipated earnings.
Jax.Network supports a vast number of transactions per second, just as other payment networks like Mastercard and Visa. The network scales on demand,and a large number of transactions are the elixirs required to make crypto transactions go mainstream. The only difference between JAX coin and its competitors in global payment lies inherently in the benefits of Jax.Network.
Remember, Jax.Network promises more privacy and the elimination of payment from third parties. No middlemen reduce the number of fees required to send cash from one person to another. The network is also fast and supports transactions across the world. Additionally, the network could process any number of large transactions.
Google Pay and how it differs from Jax.Network
Google Pay is not as private as Jax.Network. See, the former requires you to input credit card information which, of course, contains your data. Jax.Network, on the other hand, utilizes public identifiers while recording transactions. Therefore, ensuring that transactions are private and anonymous.
Another problem with Google Pay is its support for NFC-only devices. Supporting NFC-only devices means those merchants or businesses that do not accept NFC technology PoS can’t accept the payment method. Jax.Network is entirely convenient for anyone with a digital wallet and isn’t tied to only a few devices.
Again, Google Pay transactions rely on the device that they are challenging to complete without your mobile. Jax.Network payments, on the other hand, are mobile and unrestricted. So long as you know your wallet login info, you can transact anywhere, at any time.
Verdict: Which is a Better Model of Payment Jax.Network Vs. Google Pay
Jax.Network will be the perfect mode of payment for day-to-day global transactions and eCommerce payments. Making fast payments is possible because the platform is decentralized and transactions are relatively fast compared to other decentralized networks. Besides, a layer 2 solution will improve upon the speed to ensure that transactions can be instantaneous.
As a result, your payment does not have to go through tens of centralized agencies to be processed. Furthermore, the Jax.Network blockchain protects your identity and enhances anonymity within the network (as long as you are not using centralized exchanges and a bit careful how you process your transaction), your funds are secure, and the JAXcoin is as stable as any other stablecoin. As a result, the much-needed stability for decentralized payments will be achieved.