Vinod Manoharan, the CEO of Jax.Network, teamed up with cryptography scientists to build a fully decentralized, scalable, and stable cryptocurrency. Today, Jax.Network is a dedicated global payment system with a strict coin issuance policy that ensures its currency does not fluctuate in value. The network is anchored to the Bitcoin network to boost performance and enhance adoption.
Stripe is a payment processing company integrated into businesses and merchants to support online, eCommerce, and ready-to-go transactions. The system has a prebuilt checkout system that allows you to customize your online point of sale in a way that matches your brand. In this post, we would like to compare the payment features of Jax.Network with the traditional payment method Stripe.
Jax.Network as a payment processor
Jax.Network holds a decentralized cryptocurrency whose value remains stable. Unlike most digital currencies, JAX coins are not subject to regular and unexpected crashes. The issuance of the coins follows a strict set of rules that prevent volatility. It also allows transaction validators within the network to expect rewarding payoffs and have the possibility to adjust their hashrates according to what they anticipate to earn.
Jax.Network theoretically supports a vast number of transactions per second (the network is in the TesNet phase), just as other payment networks like Mastercard and Visa. Scalability and a large number of transactions are required to make crypto transactions go mainstream. The distinction between JAX and its competitors in global payment lies inherently in pseudonymity and the elimination of third parties. The absence of middlemen reduces transaction fees, eliminates processing hassles and delays, especially when transactions are done across large geographical areas.
Benefits of Jax.Network over Stripe
Stripe is not as private as Jax.Network. The former requires you to input credit card information which, of course, exposes you to identity theft and hacking. Jax.Network, on the other hand, utilizes public identifiers while recording transactions, ensuring that transactions are private and pseudonymous. Unless transactions are conducted through a crypto exchange, in which case pseudonymity disappears.
Again, Stripe does not support widespread transactions and is only unavailable in certain countries which also limits the scope of your business. Essentially, Stripe supports only 38 nations, and most of these nations are developed countries. On the other hand, Jax.Network is entirely limitless and has no regional blocks. You do not need VPNs to navigate regional restrictions.
Verdict: Jax.Network is a better payment processor than Stripe
For day-to-day global transactions and eCommerce payments, Jax.Network could be your best mode of payment due to its fast, and decentralized protocol. Hence, transactions do not have to go through tens of centralized entities for your payment to be processed securely.. Your funds are also secure, and JAX is as stable as any other stablecoin available on the crypto market, therefore bringing the much-needed stability required for decentralized payments.