Jax.Network uses a sharding solution to enhance the data throughput efficiency by splitting the blockchain into different parallel and independent chains or shards. Sharding reduces the workload on the entire network, thereby making the network more scalable. Jax.Network also employs merged mining techniques to ensure the security of shards. But, it does not compromise security, and each shard has the same security as the entire network using Auxiliary Proof-of-Work. Jax.Network reduces the amount of information stored, but network resilience to 51% attacks remains the same.
What is Jax.Network sharding and why is it needed?
First, sharding is a promising blockchain scaling solution that involves splitting a network into more superficial portions, commonly referred to as shards. The concept of sharding is more like a “divide and conquer” algorithm and can be used to ease the workload on a single network and distribute this into multiple sub-networks.
JaxNet employs this same blockchain scaling approach meaning the entire network is made up of shards. Shards are a collection of nodes that take part in transactions and also maintain the sharded network.
JaxNet leverages sharding as its value proposition. When used in JaxNet, sharding divides the workload of a blockchain into groups of shards responsible for reducing the latency, allowing for more transactional throughput, which, in turn, enhances scalability.
A miner can mine any number of shards limited only by his resources and supplies. The bigger number of miners joining the network, the higher its security.
The need for the Jax.Network sharding solution revolves around database scaling. A crucial standard of a scalable network is that each node is given fixed information to store and hold. By reducing the overall disruption, sharding decreases the load from a single node and enhances the entire network performance.
What makes Jax.Network unique?
Jax.Network is unique because of the way it handles sharding and merged mining. Unlike other blockchains that use Proof-of-Work, Jax.Network combines sharding and merged mining to ensure transactions are foolproof.
Merged mining allows miners to mine two or more shards simultaneously. Through the proprietary merged mining tree used in Jax.Network, shards are secured from 51 percent attacks while still ensuring decentralization.
Additionally, the reward mechanism of Jax.Network adds an extra layer of uniqueness to the blockchain. Unlike the majority of blockchain protocols, Jax.Network does not follow the ”fixed block reward” rule. Instead, the block reward is proportional to the block difficulty, which means that miners on the network will receive rewards equivalent to the amount of hash power produced by their mining rigs for maintaining the network. Hence, miners with small hashing power can participate in merged mining on the network. It also ensures that shards are mathematically equal, regardless of their date of creation.
The Jax.Nework sharding solution is an efficient approach towards the scalability of the network.