Understanding the Technology Behind Jagaban Coin
Jagaban Coin is an ambitious new cryptocurrency project focused on education, empowerment, and entertainment. Under the hood, Jagaban Coin leverages a mix of innovative blockchain technologies to power its ecosystem.
Binance Smart Chain
The native Jagaban Coin token JAGA is an ERC-20 compatible token built on Binance Smart Chain (BSC). BSC is a blockchain network that runs in parallel to the Binance Chain and is compatible with the Ethereum Virtual Machine (EVM).
JAGA benefits from BSC’s high throughput, low fees, and interoperability with other EVM-compatible chains. The choice of BSC allows Jagaban Coin to efficiently scale while leveraging existing developer resources from the Ethereum ecosystem.
Smart Contracts
Jagaban Coin makes extensive use of smart contracts – self-executing programs stored on the blockchain. Smart contracts encode key functionalities like staking, minting tokens as rewards, governance mechanisms, and more.
For example, Jagaban Coin plans to introduce staking, which will be governed by a smart contract. Users can trust the smart contract logic to calculate and distribute staking rewards automatically.
Consensus Mechanism
Jagaban Coin utilizes a standard Proof-of-Staked-Authority (PoSA) consensus model on Binance Smart Chain. In PoSA, approved validators stake tokens to participate in the network consensus process.
This allows Jagaban Coin to achieve decentralized consensus efficiently while avoiding the energy intensity of “proof-of-work” models like Bitcoin.
Interoperability
A key technical focus for Jagaban Coin is interoperability – the ability to interact with other ecosystems blockchains. This is enabled by partnerships and by bridges.
Partnerships with leading projects like Utterverse and interoperability protocols NAIA Protocol enable Jagaban Coin ecosystem’s digital assets to be potentially interoperable with hundreds of other ecosystems compatible with the protocol.
Bridges like the Binance Bridge allow assets like JAGA to move safely between blockchains like BSC, Ethereum, Tron etc. This interoperability unlocks benefits like cross-chain DeFi and liquidity access.
Native Token – JAGA
The utility token at the heart of Jagaban Coin’s ecosystem is $JAGA. It fulfills several roles:
- Means of exchange on ecosystem platforms
- Incentive and rewards for participation
- Governance voting
- Staking collateral
JAGA tokens also will be used for experiences like NFT purchases and event ticketing planned in the roadmap.
Technical Roadmap
Jagaban Coin has a multi-year technical roadmap focusing on expanding capabilities, integrations, security, and performance. Some key milestones include:
- Cross-chain bridges
- Mobile compatibility
- DAO governance
- Layer 2 scaling
Delivering on the technical roadmap will be key to achieving Jagaban Coin’s grand vision leveraging blockchain.
To learn more about this groundbreaking project, use the following links:
- JAGA Roadmap
- FAQs
- Buy JAGA with Naira
- Buy JAGA on Pancakeswap
- Buy JAGA on Poocoin
- Earn Free JAGA
- JAGA Contract Address
- JAGA Security Audit Report