The list of the recent projects undergoing the CertiK KYC verification includes Jax.Network. It has got 94 points and is ranked 211 (out of 1,915 projects).
DUBAI, UAE, April 28, 2022 /EINPresswire.com/ — Jax.Network, a blockchain merge-mined with the Bitcoin network, has passed a thorough background check and received a CertiK KYC badge on April 19, 2022. It identifies the legitimacy and transparency of the team behind the project.
Founded in 2018, CertiK built itself a reputation as an industry leader in cybersecurity. It takes pride in monitoring and auditing blockchains, web3 applications, smart contracts, etc. The company has managed to retain its high status for so long thanks to a remarkable team of professionals coming from the world’s best universities. The CertiK audit mark has become a Michelin star of excellence in the web3 world.
Apart from standard security audits, CertiK also makes assessments of the teams behind popular projects to de-anonymize developers and enhance transparency in the crypto industry. The list of the recent projects undergoing the KYC verification includes Jax.Network. The blockchain has got a security score of 94 points and is currently ranked 211 (out of 1,915 projects) by CertiK. While the first security audit was requested back in November 2021, the KYC badge was awarded only five months later. That indicates the fact that the CertiK team takes their responsibilities seriously and took their time to conduct a comprehensive check, which includes identity verification, KYC questionnaire, investigation & review, and recorded video call.
“Working with CertiK is always a pleasure because they grasp complex concepts in no time and more importantly deliver flawless results. Jax.Network appreciates CertiK’s expertise as well as the effort put into the process of assigning us a KYC badge,” Vinod Manoharan, the Founder of Jax.Network, shared in a comment.
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. JAX is a stablecoin pegged to the energy spent on mining, while JXN is an asset coin representing the value of the whole network. The Jax.Network team aims at making these coins a universal standard for the quantification of economic value. Established in 2018, the company united professionals from all over the world to build a blockchain network based on the Proof-of-Work consensus mechanism and pure state sharding as a scaling solution. Jax.Network uses a specific merge-mining technique. It allows miners to mine multiple shards simultaneously without splitting their hashrate and get rewards proportional to their effort. Being an open-source project, the JaxNet protocol can be used by anyone to build new projects on top of it and contribute to the development of the ecosystem.
originally published at Finance - Reality Syndicate Viewers