Today, cryptocurrencies are considered an essential constituent of the global economic structure. The widely increasing popularity of crypto has attracted several traders and investors to hop on its bandwagon.
It is considered to be the future of worldwide online trading. Apart from mainstream crypto tokens, like BTC and ETH, many other cryptocurrencies have surfaced on the market. They have not only made a massive name for themselves but are expected to perform exceptionally well in the coming years.
These relatively new cryptocurrencies like JAX Coin (JAX) and Stellar Lumens (XLM) ensure more usability and feasibility for their users. They have distinctive features with a more effective blockchain network to support their working mechanism. Here we have jotted down a comparative analysis of the fundamental characteristics among BTC, XLM, and JAX.
|BTC (BTC)||Stellar (XLM)||JAX|
|Maximum supply||21 million||No upper limit||According to demand.|
|Transactions per second (maximum)||7||1000||Under test|
Decentralized and secure blockchains
Stellar Lumens is a digital currency that is more focused on helping individual’s mechanisms rather than organizations. Providing a decentralized peer-to-peer framework, XLM has issued more feasibility to its users.
It also helps people with their cross-border transactions. These transactions are, otherwise, expensive and relatively time-consuming. Lumens is also focused on sorting out problems of retail users by ensuring a more effective transaction gateway.
Lumens act as a bridge between other currencies over transactions. Moreover, it is cheap, costing a mere 0.00001 XLM per transaction. It offers fast transactions, primarily within 3-5 seconds. Lumens also make money more fluid and thus more feasible for use in financial institutions. It provides swap and converts different currency pairs, allowing a more straightforward way of transactions between relatively uncommon cryptocurrencies.
On the other hand, Jax.Network offers a new and advanced mechanism for the functioning of Decentralized Finance applications. It focuses on solving the issue of scalability by minimizing the involvement of a middleman.
Jax.Network provides more security and privacy to its users—additionally, the Jax.Network runs on the Proof-of-Work model, one of the secure and decentralized consensus mechanisms for blockchain networks or projects.
Jax coin – World’s first scalable stablecoin
The team of developers behind Jax.Network were primarily focused on building decentralized blockchain, as they believed such a network was non-existent in the highly competitive crypto market. Therefore, the basic principle of the Jax.Network blockchain was to form a scalable stable coin. In the crypto market, stable coins hold a significant position, as only a handful of people use them.
Stablecoins offer more price stability in the market. Hence, users can stay safe from the volatility of the crypto market. JAX will always have a stable value with no impact on inflation. It will also offer many transactions per second, which too over minimal charges.
The goal of Jax.Network with its stablecoin is to build a viable payment system that is more suitable for crypto users and businesses. It will help enterprises to easily interchange between fiat currencies and cryptocurrency, thus, providing a more feasible approach for payment to the users.
Moreover, JAX can compete with payment giants like Visa and MasterCard, owing to its transaction speed, security, and decentralized property. It can be adopted by a higher percentage of the public sector and can be utilized in several spheres.
It will make payments easier for people, and as individuals could use it anywhere and at any time, it will be a significant development in the global financial structure. JAX inculcates modern concepts and features in its network. Therefore, it is customized for use in different public and private sectors.
By being the world’s first scalable and no-peg stablecoin, JAX has genuinely made the best possible use of technological advancements. However, it is yet to be seen how the users perceive it and how it performs in the market.
The drawn comparison of JAX and Stellar Lumens show that while they are highly alike in many features, they also have differences at many points. People can use them both to swap different currency pairs or liquify assets. However, JAX is a stablecoin, so its price will not change at any point in time. However, XLM can vary in value based on the trends of the crypto market. Therefore, JAX edges out XLM to be a comparatively better and realistically more scalable secure projection. It not only provides more security to users but also almost nullifies the risks of encountering any major losses via volatility.