Jax.Network and Syscoin take immense pride in announcing their newly formed strategic partnership, and it somehow was a factor waiting to happen. For a start, both share a similar vision, beliefs, and outlook, and considering all other factors, decided to take the plunge. With just a bit more understanding, it becomes clear how and why they completely complement each other.
Syscoin’s commitment to all matters of security is readily lapped up by Jax.Network. It helps Syscoin, an upgrade on bitcoin, making it possible for Jax.Network to secure smart contracts on both tiers of their NEVM chain just a little bit more. Add to that, their firm belief in Bitcoin and very similar work ethics and expertise in their respective areas of work will help raise the standards of the Bitcoin ecosystem now and much ahead.
Jax.Network classifies Bitcoin’s inherent value, making it possible for Jax.Network to secure smart contracts on both tiers of their NEVM chain just a little bit more. In a nutshell, Jax.Network calculates the value of the energy that is required to mine Bitcoin, and this is done through their very own Stablecoin.
Now with this partnership in place, Syscoin and Jax.Network will both use and benefit from the Bitcoin merged mining process, which will be done to their network, and there will be a joint gain.
Merged mining is akin to the process of recycling spent energy. This, in turn, offers great relief to the miners in securing additional networks. To add to it all, there will be no increases on the taxation front. In the process, the security factor too gets enhanced manifold. As would be the case, the miners now have greater rewards to be gained without experiencing higher operating costs.
Therefore, it is crystal clear that this mutually beneficial partnership is indeed a boon and fulfilling an urgent requirement of the hour. The collective benefits increase exponentially for all stakeholders.
The founder of Jax.Network, Vinod Manoharan has this to say and add in his eloquent way. According to him, a few projects use the merge mining algorithm in the present scenario. Even less in the case of merge-mine Bitcoin. Since both Syscoin and Jax.Network share the same projects, it was inevitable that they ultimately join hands and become a force to reckon with.
The next course of imminent action will be to create further awareness amongst the blockchain community and educate them about the many advantages of Bitcoin merged mining.