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The Technology Harnessed by the JSB Foundation to Create an Awesome Platform

The JSB Foundation oversees a platform designed to help innovators, visionaries, and change-makers to have a positive impact globally. It does this by availing technologies and tools that help them create
opportunities for the few and the many.

The JSB platform operates as a public blockchain that is based on a DeFi platform. Its development is guided by the JSB Foundation, which has the core focus of decentralized finance. By doing so, they will enable value creation at an increased pace for the community.

DeFi Swap is a unique product and the first of its kind to run on a compatible Smart Chain. The JSB Foundation has been quite vocal when it comes to cross-chain transactions. They believe it is time that such transactions became ubiquitous, especially within the DeFi space.

The Technologies that Power the JSB Platform
The JSB Platform would not have been possible in 2008 since the technology on which it runs did not exist back then. However, a decade since the invention of the blockchain and complementary technology, the JSB platform has been made possible.

The Blockchain

The blockchain is one of the core technologies that make JSB possible. Blockchain technology was launched in 2009, as the technology that secured the Bitcoin network. At its most basic, the blockchain is a system that makes it possible to record information in a manner that makes it nearly impossible for anyone to hack, change, or cheat when using it.

A blockchain can be considered a type of digital ledger where transactions are recorded, duplicated, and distributed amongst a participating network of independent computers. Each block inside a blockchain is made up of a set number of transactions.

When a new transaction takes place, the record of that transaction is added to every ledger contained in every participating computer within the network. The decentralized data that is managed by all participants in the network is called the Distributed Ledger Technology (DLT).

The Blockchain is an example of a DLT where transactions are recorded with the aid if an immune cryptographic signature known as a hash. Using a hash ensures that if one block in a chain is changed, it would become immediately obvious that someone tampered with it. If a hacker wanted to corrupt the blockchain, they would need to change across all blocks in the chain, across all existing distributed copies of the chain.

Some of the most popular blockchains in the world are those that power Bitcoin, Ethereum, and the Tron blockchain. These blockchains are continually growing as new blocks are added to them. The result
is that they are more secure due to how large they are.

A key feature of the JSB Foundation is the cross-blockchain interoperability it is working on. The capabilities will ensure that different blockchains can all work together, which will help to massively increase the size of its ecosystem.

Smart Contracts

The other core component of the JSB foundation is the smart contract. Smart contracts are computer programs, which act as transaction protocols. They are intended to execute commands automatically, control, or document relevant events and actions according to set terms of an agreement or contract. By using smart contracts, it eliminates the need to trust an intermediary, arbitrator, or enforcement body. The result is the elimination of losses due to fraud as well as the reduction of transaction costs since third party facilitators are taken out of the equation. Besides fraud, smart contracts eliminate the likelihood of human error in a transaction.

JSBswap

A key component of the JSB foundation is the JSBSwap protocol. It operates as an automated liquidity pool, which is powered by a constant product formulation built into it. The formulation is secured using non-upgraded platforms, which are themselves secured by the TRON blockchain.

The protocol eliminates the need for any trusted intermediaries and prioritizes security of funds, anti- censorship, and decentralization. Each JSBSwap smart contract contains a liquidity pool made up of two ERC20 tokens. Anyone can join a pool as a liquidity provider when he or she submits an equivalent value of the underlying token in exchange for group tokens.

Solving the Problem of Trust

Numerous attempts have been made in the past at creating P2P transaction protocols and digital money. However, these efforts always fell short. The main issue with past efforts has always been trust. Since past efforts always had centralized control, there was always fear that an unchecked centralized party, who had no incentive not to profit from a platform could end up doing so. For instance, if someone creates a centralized platform with currency X, there was always a chance the creator could change the code to award a given amount of currency X to his or her account at random.

The Bitcoin, the first use case of the blockchain, was designed to deal with the issue of trust. While existing databases rely on a central party that is in charge to work, the blockchain ensures everyone plays according to the rules. There is no risk of double spending since everyone who uses it is also
capable of maintaining it and checking the transactions.

Solving the Problem of Trust

Numerous attempts have been made in the past at creating P2P transaction protocols and digital money. However, these efforts always fell short. The main issue with past efforts has always been trust. Since past efforts always had centralized control, there was always fear that an unchecked centralized party, who had no incentive not to profit from a platform could end up doing so. For instance, if someone creates a centralized platform with currency X, there was always a chance the creator could
change the code to award a given amount of currency X to his or her account at random.

The Bitcoin, the first use case of the blockchain, was designed to deal with the issue of trust. While existing databases rely on a central party that is in charge to work, the blockchain ensures everyone plays according to the rules. There is no risk of double spending since everyone who uses it is also
capable of maintaining it and checking the transactions.

Summary

The JSB Foundation manages the JSB Finance platform. However, it does not mean they have centralized control over the platform. Instead, they are more of a foundation that has the goal of advancing the JSB platform.

They act as the legal custodian of the protocol as well as the JSB brand. The foundation works to promote viable use cases that will help the JSB community grow and thrive while remaining true to the tenets of decentralization. They have a board of directors and a diverse global team that ensures they maintain autonomy, decentralization, and objectivity.

More information:

Facebook: https://www.facebook.com/jsb.foundation.global
Reddit: https://www.reddit.com/user/jsbfoundation/
Twitter: https://twitter.com/jsbfoundation
Website: https://jsb.foundation/

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