Welcome to the "JOC Newsletter" by Japan Open Chain, where we bring you updates on Japan Open Chain's activities. In this issue, "Japan Open Chain in 1 Minute", we will explain the features and projects of the JOC in an easy-to-understand manner for first-time visitors.
- Introduction.
There are many blockchain networks in the world, but their operating entities are often unclear, and there are many legal and technical problems, which make it challenging to promote web3 business on such blockchains. With the possibility of fraud and other issues, there is a need for a reliable blockchain. - How is "Japan Open Chain" [The Best for Business]?
Japan Open Chain will be an Ethereum-compatible chain that realistically balances decentralization and scalability. PoA (Proof of Authority) consensus algorithm is one of the official algorithms of the Ethereum protocol. As long as it is operated by a trusted validator, it has the necessary reliability and excellent scalability. JOC is operated by trusted Japanese companies, which has significantly increased the transaction speed while ensuring reliability.
Also, Japan Open Chain is Ethereum-compatible public blockchain that will operate under the laws of Japan, a country known for its global political and legal stability. It is a safe choice for those who want to use Ethereum-compatible chains in the financial and business sectors. - Why is "Japan Open Chain" [Safe and Secure]?
High-security performance, stability, and reliability are ensured by the fact that the Validator is a precise and reliable Japanese company and that the risk of hacking and forking is eliminated due to compliance with Japanese law.
JOC's validators consist of socially trusted companies and organizations in Japan, including Sony Group, NTT Group, Dentsu Group, and universities. - Why is "Japan Open Chain" [Fast Transaction and Low gas fee]?
Japan Open Chain allows for speeds ranging from 400 TPS (400 times per second) for complex contract executions such as ERC20 token transfers, to around 2,000 TPS for simple gas token transactions. This represents a 10 to 100 times increase in transaction capacity compared to the 15 TPS of the Ethereum main net. - What kind of projects does "Japan Open Chain" are doing?
NFTs, tokens, and stablecoins can be issued on the JOC. Examples of representative projects include an NFT-based e-Residency "e-Kaga Citizenship System" demonstration in Kaga City, Ishikawa Prefecture, and issuing a stablecoin based on compliance with Japanese law with Japanese financial institutions.
◆Reference article on "e-Residency Project of Kaga City"：
https://www.neweconomy.jp/posts/282285
◆Reference article on "Stablecoin"：
https://asia.nikkei.com/Spotlight/Cryptocurrencies/Japanese-banks-prepare-to-launch-stablecoins
JOC is a speaker and exhibitor at various events and seminars, and we invite you to come to our events and seminars whenever you have the opportunity to learn more about web3 and blockchain, as well as JOC.
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