Jax.Network Unveils Blockchain Co-Inventor, Dr. W. Stornetta on Its Advisory Team
21 Settembre 2021 - 2:00PM
NEWSBTC
As the race for the foremost blockchain solution heats, more crypto
projects continue to throw their hats into the ring. The efforts of
some blockchain projects cannot be overemphasized. Bitcoin’s
influence on the market has facilitated the unparalleled
exponential growth that the crypto industry has enjoyed over the
last decade. This growth is despite the novel cryptocurrency’s
shortcomings. Even though Bitcoin’s dominance by market
capitalization has slowly waned over time, its hold over the future
of blockchain technology remains ever strong. Jax.Network enters
the race, and it has made forward strides since it first appeared
on the scene. The latest news out of the camp is Dr. W. Scott
Stornetta joining Jax.Network as a project advisor. Why
Jax.Network? Jax.Network is a scalable blockchain protocol anchored
to the Bitcoin blockchain which runs on the Proof-of-Work consensus
mechanism. Jax.Network solves the Blockchain Trilemma that plagues
blockchain networks through its four building blocks. It uses a
specific merge-mining technique that allows miners to mine multiple
shards simultaneously while rewarding them in proportion to their
contributions. It is also an open-source project. Hence, other
developers can also build projects on the protocol, contributing to
the growth of the network. Jax.Network issues two native coins, JAX
and JXN, which serve as stable and speculative assets respectively.
Jax.Network, which already boasted an impressive international
line-up, continues to add more respected names to its team. As part
of the team’s efforts to build a hashrate-based stablecoin, it has
turned to the services of Dr. W. Stornetta, one of the leading
lights of the space. He comes on board as an advisor. Introducing
Blockchain Pioneer – Dr. W. Stornetta Dr. W. Stornetta was one of
the few people mentioned in Satoshi’s Bitcoin whitepaper – three
times – and is widely regarded as a co-inventor of the blockchain.
His work in collaboration with Dr. Stuart Haber, where he first
mentioned the blockchain and a digital time-stamp to track
transactions, was implemented in Satoshi’s Bitcoin blockchain
vision. His work was featured in the New York Times in 1995 after
receiving the Discover Award for Computer Software in 1992. He has
a Ph.D. in physics from Stanford University. He is also an alumnus
of MIT, Harvard, and Brigham Young University. These days, Dr. W.
Stornetta works as a partner and Chief Scientist at Yugen Partners,
a private equity firm that invests in blockchain-based startups. He
will lend his expertise and experience to Jax.Network, a company
that was established in 2018 and has continued to thrive ever
since. Dr. W. Stornetta has been around in the crypto space for a
long time, and his presence on the team will also help Jax.Network
avoid the pitfalls that have limited earlier visionary projects on
their quest to propagate the financial system he pioneered with his
work. Dr. W. Stornetta finds the hashrate-pegged stablecoin that
the Jax.Network team proposes quite innovative. His record as an
industry visionary and experience in the blockchain sphere proves
that he knows a worthy project when he sees one. Any project within
the blockchain space would benefit from the knowledge and expertise
of Dr. Stornetta. Jax.Network finds itself in this coveted position
with Dr. Stornetta on its advisory team. While we anticipate the
official launch, there are enough reasons to be optimistic that
it’ll be worth the wait.
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