Jax.Network unites with Syscoin in a merge-mining partnership
DUBAI, United Arab Emirates, July 12, 2022 (GLOBE NEWSWIRE) — Jax.Network, a blockchain merge-mined with Bitcoin, is proud to announce a strategic partnership with Syscoin. Both projects make use of Bitcoin merge-mining to secure their networks and offer incentives to miners in the form of additional block rewards on top of Bitcoin mining.
In anticipation of Mining Disrupt, two major Bitcoin merge-mined blockchain projects have joined their forces with the purpose of strengthening and enhancing the Bitcoin ecosystem. This collaboration results in co-sponsoring the booth at the aforementioned conference on July 26-28th. Come join us in knowledge-sharing and experience the world’s largest Bitcoin mining expo!
“It’s rare to find other projects who truly understand the overlooked benefits of merged mining, let alone provide their own real utility required to push the space forward by essentially making Bitcoin more valuable. It’s always a joy to work with people who share your values, and Jax.Network aligns with ours at a core level. I look forward to seeing the reception to what we have in store to reveal at Mining Disrupt,” Jag Sidhu, Syscoin Foundation President stated.
Such a partnership should propel the wider adoption of merge-mining, as it is “green” mining that simply reuses the energy already spent on mining Bitcoin. Thus, auxiliary networks not only benefit from higher security but also allow miners to earn more rewards without any loss of hashrate or increased operating costs.
Vinod Manoharan, Founder of Jax Network, had the following to say about the partnership: “There are a few projects that use a merge-mining algorithm and even fewer that merge-mine Bitcoin. Like Jax.Network, Syscoin is one of those unique projects. Thus, we decided to unite our efforts in an incredible endeavor that we will be revealing at Mining Disrupt. Find our co-hosted booth there to get all the details first!”
Jax.Network provides the technological infrastructure for a decentralized energy-standard monetary system. The Jax.Network blockchain is anchored to the Bitcoin network and issues two digital currencies JAX and JXN.
Syscoin is a decentralized and open-source project founded in 2014 whose NEVM blockchain combines the best of Bitcoin and Ethereum in a single coordinated modular platform.