Paper 2020/511

JaxNet: Scalable Blockchain Network

Iurii Shyshatsky, Vinod Manoharan, Taras Emelyanenko, and Lucas Leger


Today’s world is organized based on merit and value. A single global currency that’s decentralized is needed for a global economy. Bitcoin is a partial solution to this need, however it suffers from scalability problems which prevent it from being mass-adopted. Also, the deflationary nature of bitcoin motivates people to hoard and speculate on them instead of using them for day to day transactions. We propose a scalable, decentralized cryptocurrency that is based on Proof of Work. The solution involves having parallel chains in a closed network using a mechanism which rewards miners proportional to their effort in maintaining the network. The proposed design introduces a novel approach for solving scalability problem in blockchain network based on merged mining.

Available format(s)
Cryptographic protocols
Publication info
Preprint. MINOR revision.
blockchainscalabilityshardingmerged-miningdistributed networks
Contact author(s)
y shishatskiy @ gmail com
iurii @ jax net
2020-05-05: received
Short URL
Creative Commons Attribution


      author = {Iurii Shyshatsky and Vinod Manoharan and Taras Emelyanenko and Lucas Leger},
      title = {JaxNet: Scalable Blockchain Network},
      howpublished = {Cryptology ePrint Archive, Paper 2020/511},
      year = {2020},
      note = {\url{}},
      url = {}
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