Economy

The backbone of the Janex ecosystem will be the JNX token – based off of the BEP-20 standard. It will be a utility token used by users to pay for trading fees and utilize the advanced features of the Janex platform. Fundraising and the use of JNX tokens will help finance the Janex platform development and marketing, so we can focus on simplifying the digital asset ecosystem.

Token holders will be enabled to create an account on the Janex app, and the system will generate a user profile and a wallet that preserves all data pseudo-anonymously in the decentralized database. The wallet of each JNX token holder includes a private account key that is securely encrypted and stored in the wallet as well as create and verify signatures. Because data in the blockchain is public in nature, Janex will not store token holders’ names, addresses, mobile numbers, browsing data, or documentation on the blockchain. Janex will store, manage, and secure this data in a centralized storage.

The secure storage will permit access to the data without the need for usernames or passwords as follows:

• When the data is saved into the storage it will be linked to the public identifier of the entity such as a blockchain address.

• The party that wants to retrieve the data should confirm their identity by signing the request with the private key that corresponds to their blockchain address.

• The storage service will get the information about permissions from the blockchain, check if the signature is valid and the requester has permission to access the data.

• If validation is successful, the data will be returned to the requestor and a confirmation record will be made in the blockchain