Binance is the world’s biggest and most used crypto exchange platform that supports millions of transactions in a single day. This coin has been in circulation for a long time and, in February 2021, it experienced a huge surge in price. The coin rose from $13 in January 2020 to an all-time high of $672.
JAX, on the other hand, is one of the two coins of the Jax.Network blockchain. Yes, it has two coins, that’s true! The other one is called JAXNET (JXN). We will compare BNB and JAX, helping you to decide the next big cryptocurrency.
JAX & BNB: How Do They Differ?
A proper distinction between BNB and JAX coins needs to be drawn, so that one can determine the usability of each coin. Both coins have something to offer but JAX coin stands out.
|Launch||Launched in July 2017||Will be launched in Q3 of 2021|
|Circulating Supply||153,432,897 BNB coins||No cap. Minted based on demand|
|Block Time||Block time of 5 seconds||Block time of 600 seconds on the beacon chain and 15 seconds on the shard chains|
|Total Supply||200 million coins exist||No supply cap exists, ie, unlimited number of coins|
|Transaction Per Second||1.4 million transactions per second allowed||Unlimited transactions per second is supported. But the network would require approximately 400 000 shards to compete with BNB throughput|
|Network||Binance Network, the biggest crypto exchange in the world||JaxNet, one of the most scalable and decentralized protocols in motion|
Disadvantages And Advantages
Both of these coins have their own pros and cons. Some of them will be discussed below so that it’s easier to confirm the uniqueness of JAX.
- BNB coin forms an essential part of Binance Network, the most used and largest crypto exchange network. Transactions on this network are fast indeed but JAX coin facilitates faster transactions. Indeed, Jax.Network is developing a Layer-2 solution on top of its protocol in order to offer instant settlements, although with a bit more centralization. Transactions will still be secured by its Proof-of-Work consensus algorithm.
- The total supply of BNB coins is limited, whereas JAX coins do not have any supply cap, just like Ethereum. This is the reason why JAX coins can be used easily for day-to-day transactions. One can use it to deal with almost any kind of merchant or vendor, as long as JAX coins are accepted by them. The coin issuance of JAX works on the principle of demand and supply, in order to maintain their value. This is what makes JAX perfect for transactional purposes, while BNB coins are more a reflection of the overall value of Binance. BNBs are also used to participate in IEOs on Binance.
The comparison of Binance Coin and JAX might lead to a long battle between the supporters of the two, the truth is that both of these coins have a reputation to uphold. There is a certain reason why Binance Coin has increased in price so much in just about a year. It can be associated with the increased number of users on Binance. BNB mostly revolves around Binance exchange but JAX coin can be used in almost every daily circumstance. It has been created to facilitate and adopt crypto without any trouble across the globe.