Visa or Mastercard vs Jax Network

1. Visa or Mastercard vs. Jax.Network: What Suits You More? In today's fast-paced world, keeping up with numerous internet transaction techniques is critical. The essential thing is how to choose which one is superior to the other. Jax.Network is on the way to becoming a global decentralized transaction medium, or more precisely, secure cryptocurrency for day-to-day transactions. Parameters of comparison Visa Mastercard 24,000 per second 5,000 per second Improved scalability provides higher rates, comparable to Visa/Mastercard when the network scales. Fast transaction processing through Layer 2 Transaction rate In the US: from 2.44%+$0.1 to 4.94%+$0.2. This rate includes the processing and interchange fees1 In the US: from 2.44%+$0.1 to 5.14%+$0.2. This rate includes the processing and interchange fees2 The minimum fee of around 10 cents per 1KB of shard chain block space. But compared to the other methods, this is brilliantly low Transaction fees 1. https://www.fool.com/the-ascent/research/average-credit-card-processing-fees-costs-america/ 2. https://www.fool.com/the-ascent/research/average-credit-card-processing-fees-costs-america/ Parameters of comparison Visa Mastercard Jax.Network Fundamental principle (involvement of mediator) Involves banks and other channels of payments that act as mediators Involves banks and other channels of payment that act as mediators It is independent of mediators and is defnitely among the best methods suited for private and hassle-less payments Market share 48.50% 31.70% The network is yet to be functional Global acceptance Accepted globally Accepted globally Decentralized network, working globally Supporting currency All international and national fat currencies are supported All international and national fat currencies are supported Cryptocurrenci es and stablecoins are supported Worldwide transactions Easily done, but costly due to exchange rates Easily done, but costly due to exchange rates Easily done, no exchange rate Parameters of comparison Visa Mastercard Jax.Network Methodology Payments are made using the bank accounts that are linked Payments are made using wallet addresses along with a private key or Quick Response code. No bank account needed. Payments are made using the bank accounts that are linked Transaction irreversibility Reversible It is not possible Irreversible, i.e., can only be refunded by the party that has received JAX coins. Since no mediator is involved, it is not possible to reverse the transaction. Pros and cons • Decentralized networks can’t compete in terms of speed with centralized payment systems. Solutions exist to make confrmation time at par with Visa/Mastercard but requires some centralization at the wallet level. If users need fast transaction confrmation, they can use the Jax.Network Layer 2 solution; if not, they can still use the fully decentralized network. The real diference boils down to the fees that are extracted from the user by the payment gateway. Visa/Mastercard levy substantial transaction fees and even higher for global transactions, which is not the case with Jax.Network. A meager sum is extracted that is given to the miners as a fee for the validation process. • • • • • When to choose which payment method? Jax.Network represents cryptocurrencies, while Visa and Mastercard represent fiat currencies. Both have their disadvantages and advantages, but Jax.Network is way better in terms of security and lower transaction fees. Are you ready to join the Jax.Network? Join Now jax.network