Japan Open Chain Price(JOC)

Japan Open Chain (JOC) is a Layer 1 public blockchain designed to be fully compatible with Ethereum. Its primary goal is to facilitate secure and convenient Web3 business for individuals and companies globally. The project aims to overcome challenges seen in the existing Ethereum mainnet, such as transaction speed and high gas costs, while ensuring legal stability for its operators. Technologically, JOC utilizes the Proof of Authority (PoA) consensus algorithm, which is an official part of the Ethereum protocol, instead of the Proof of Stake algorithm used by the Ethereum mainnet. This choice provides necessary reliability and scalability, especially when operated by trusted validators. JOC is built using the Go Ethereum (Geth) client, making it fully compatible with Ethereum tools and smart contracts. The chain is operated as an open-endpoint consortium permissioned node blockchain by a group of trusted Japanese companies and institutions, ensuring compliance with Japanese law. Validators include prominent entities like Sony Group, Dentsu Group, NTT Group subsidiaries, and universities, emphasizing a high level of social trust and security. This setup balances decentralization with scalability, making it suitable for finance and business applications due to its legal and political stability. JOC's ecosystem supports various Web3 use cases, including stablecoins, NFTs, and decentralized applications. The project is actively working with Japanese banks to develop legally compliant stablecoins, aiming to build a next-generation financial system. It also promotes regional revitalization through NFTs, exemplified by initiatives like the "e-Kaga Citizen Certificate." The JOC token is the native cryptocurrency of the Japan Open Chain and is used to pay for transaction fees (gas fees) on the network. Japan Open Chain has also formed strategic partnerships, such as with Bifrost, to enhance cross-chain interoperability and facilitate the entry of Web2 companies into the Web3 space. The project originated in 2022, driven by blockchain and financial experts in Japan who sought to create a high-performance, low-cost, and regulatory-compliant public blockchain. Learn more

Looking to buy How to buy JOC? The process is simple and hassle-free! You can easily purchase JOC on LBank by following our step-by-step buying guide. We provide detailed instructions and video tutorials showing how to register on LBank and use various convenient payment options.

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