JAX International DMCC – Saudi Mirror http://www.saudimirror.com News On-line Fri, 14 Oct 2022 06:54:21 +0000 en-US hourly 1 https://wordpress.org/?v=5.3.2 JaxPool by Jax.Network launches the initial configuration for its public API http://www.saudimirror.com/jaxpool-by-jax-network-launches-the-initial-configuration-for-its-public-api/ Fri, 14 Oct 2022 06:54:21 +0000 http://www.saudimirror.com/?p=213540 DUBAI, United Arab Emirates, Oct. 14, 2022 (GLOBE NEWSWIRE) — Jax.Network, a blockchain project building an energy–standard monetary system, has launched the public API for its mining pool. Now everyone can check the network hashrate updated in real time using this link. At the moment of writing, Jax.Network has around 1.23 Ehash/s, which is twice as high as the hashrate of the BSV network.

Jax.Network, a prominent blockchain network merge–mined with Bitcoin, launched its own mining pool in August this year. It helped the project increase its network hashrate up to 1.58 Ehash/s and outrun BSV and BCH networks. With the bear market getting stronger, the company puts the main focus on improving its core products, including the mining pool. Thus, it unveiled the initial configuration for its API that allows miners and developers to fetch data regarding JaxPool in real time.

This API is considered a first version, which will be improved in the future to include more data points. At the moment, the API shows the current real–time hashrate of JaxPool and its historic hashrate for a specified range in time. The upcoming rollouts will include the number of blocks mined, number of active miners, and many other critical metrics.

"The API helps to fetch information to end users and thus it's important for us to make sure that it's simple and efficient," Vinod Manoharan, Founder of Jax.Network, shared in a comment.

About Jax.Network

Jax.Network provides the technological infrastructure for a decentralized energy–standard monetary system. Established in 2018, the company united professionals from all over the world to build a blockchain network based on the Proof–of–Work consensus mechanism and pure state sharding as a scaling solution.

About JaxPool

JaxPool is a BTC mining subpool under a top–5 mining pool. Its goal is to merge–mine Bitcoin with the Jax.Network blockchain and provide miners with increased profitability. JaxPool is the first mining pool to offer negative fees, i.e 0% fees on your BTC mining + a 1% bonus. Our merge–mining technology allows us to increase the profit per terrahash.


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Jax.Network has mined over 100 BTC blocks http://www.saudimirror.com/jax-network-has-mined-over-100-btc-blocks/ Wed, 28 Sep 2022 14:03:56 +0000 http://www.saudimirror.com/?p=213454 DUBAI, United Arab Emirates, Sept. 28, 2022 (GLOBE NEWSWIRE) — Jax.Network, a blockchain project building an energy–standard monetary system, has merge–mined over 100 Bitcoin blocks. Miners are welcome to join JaxPool and get a wide variety of different perks, including free JXN coins.

Jax.Network is a blockchain protocol merge–mined with Bitcoin network. The merge–mining technology allows the network to leverage the security of the parent chain and provide more incentives for miners, as they receive extra block rewards in the form of JXN tokens. This week, Jax.Network rechead a major milestone of 100 BTC blocks being merge–mined with Jax.Network. It's interesting to note that the first BTC block was merge–mined during the mainnet launch back in October 2021.

The event comes shortly after JaxPool, an official mining pool focused on merged–mining Jax.Network with Bitcoin, reached an all–time high of 1.58 Ehash/s of computing power. The pool has managed to gain this hashrate in less than two months thanks to attractive terms of participation, which include negative fees on Bitcoin mining and a 1% bonus for every Phash/s. Thus, it surpassed both BSV and BCH networks in terms of computing power.

"We have come a long way to create a protocol that reflects the best of what a blockchain protocol, such as Bitcoin, can offer. A hundred blocks mark one of the first major milestones for us but the most interesting parts of our roadmap are yet to come," Vinod Manoharan, Founder of Jax.Network, stated.

About Jax.Network

Jax.Network provides the technological infrastructure for a decentralized energy–standard monetary system. The Jax.Network blockchain is anchored to the Bitcoin network and issues two digital currencies JAX and JXN. Jax.Network aims at making these coins a universal standard for the quantification of economic value. Established in 2018, the company united professionals from all over the world to build a blockchain network based on the Proof–of–Work consensus mechanism and pure state sharding as a scaling solution.


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Jax.Network's mining pool gains 1.58 Ehash/s http://www.saudimirror.com/jax-networks-mining-pool-gains-1-58-ehash-s/ Sun, 25 Sep 2022 19:09:44 +0000 http://www.saudimirror.com/?p=213432 DUBAI, United Arab Emirates, Sept. 25, 2022 (GLOBE NEWSWIRE) — JaxPool, a mining pool focused on merge–mining Jax.Network with Bitcoin, has increased its hashrate to 1.58 Ehash/s. That's almost a 32% increase since last week. To put into perspective, Bitcoin SV (BSV) has only 0.54 Ehash/s and Bitcoin Cash (BCH) has 1.43 Ehash/s at the moment of writing.

JaxPool was launched in August 2022 to allow miners to test their mining pool and different modes of participation. The pool offers negative fees, meaning miners don't have to pay anything for mining BTC as a part of the pool. In addition, a 1% bonus in BTC is paid out for every Phash/s dedicated to the pool, not to mention extra rewards in JXN.

In less than two months, JaxPool has managed to surpass the average daily hashrate of both BSV and BCH. The latter happened just this week, as JaxPool reached an all–time high of 1.58 Ehash/s. At the moment of writing, BSV has 0.54 Ehash/s, while BCH increases its daily hashrate to 1.43 Ehash/s, which is still 0.15 Ehash/s lower than Jax.Network.

"We are extremely glad to see our pool growing as more miners decide to entrust their hashrate to merge–mine Bitcoin with Jax.Network. We expect to keep pace with the increasing demand and deliver top–notch user experience to miners," Vinod Manoharan, Founder of Jax.Network, revealed in a comment.

About JaxPool

JaxPool is a BTC mining subpool under a top–5 mining pool. Its goal is to merge–mine Bitcoin with the Jax.Network blockchain and provide miners with increased profitability.

About Jax.Network

Jax.Network provides the technological infrastructure for a decentralized energy–standard monetary system. The Jax.Network blockchain is anchored to the Bitcoin network and issues two digital currencies JAX and JXN. Jax.Network aims at making these coins a universal standard for the quantification of economic value. Established in 2018, the company united professionals from all over the world to build a blockchain network based on the Proof–of–Work consensus mechanism and pure state sharding as a scaling solution.


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Jax.Network has surpassed BSV hashrate http://www.saudimirror.com/jax-network-has-surpassed-bsv-hashrate/ Fri, 16 Sep 2022 14:58:31 +0000 http://www.saudimirror.com/?p=213396 DUBAI, United Arab Emirates, Sept. 16, 2022 (GLOBE NEWSWIRE) — Jax.Network, a blockchain merge–mined with Bitcoin, has gained around 1,200 Phash/s, which is two times higher than the average hashrate per day of Bitcoin SV (BSV), which has 568.87 Phash/s at the moment of writing. The project is right on track to outcompete Bitcoin Cash (BCH) with its 1.43 Ehash/s.

Jax.Network utilizes a merge–mining algorithm that allows miners to dedicate their computational resources to finding a proof–of–work not only in its own network but also in the Bitcoin network. Thus, by reusing the hashrate of the Bitcoin network, the Jax.Network blockchain leverages enhanced security and puts a check on potential inflation compared to a standalone network.

Such a technical solution offers increased incentives for miners. Apart from extra block rewards and transaction fees, miners, who decide to join JaxPool, an official pool by Jax.Network, can benefit from negative pool fees on BTC mining and up to a 1% bonus on BTC mining activities. It could be fair to assume that this offer helped to attract a lot of attention to the network, resulting in 1,200 Phash/s of combined hashrate in less than two months. At the moment, that's nearly twice more than the BSV network.

"Once miners test our network and understand how much more profitable it can be, we may see a rapid increase in hashrate. I would even assume that we might capture 100% of hashrate of the Bitcoin network," Vinod Manoharan, Founder of Jax.Network, commented.

About JaxPool

JaxPool is a BTC mining subpool under a top–5 mining pool. Its goal is to merge–mine Bitcoin with the Jax.Network blockchain and provide miners with increased profitability.

About Jax.Network

Jax.Network provides the technological infrastructure for a decentralized energy–standard monetary system. The Jax.Network blockchain is anchored to the Bitcoin network and issues two digital currencies JAX and JXN. Jax.Network aims at making these coins a universal standard for the quantification of economic value. Established in 2018, the company united professionals from all over the world to build a blockchain network based on the Proof–of–Work consensus mechanism and pure state sharding as a scaling solution.


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Jax.Network celebrates its 4th anniversary http://www.saudimirror.com/jax-network-celebrates-its-4th-anniversary/ Fri, 02 Sep 2022 14:30:34 +0000 http://www.saudimirror.com/?p=213299 DUBAI, United Arab Emirates, Sept. 02, 2022 (GLOBE NEWSWIRE) — Jax.Network, a blockchain project building an energy–standard monetary system, is glad to enter the fifth year of its development. Throughout its four years of existence, Jax.Network has managed to design and launch a number of unique products and services and doesn't plan to lose momentum.

Started up with a mission to solve the famous Scalability Trilemma, Jax.Network went far and beyond and built not only a truly scalable, decentralized, and secure network but an entire technological infrastructure for an energy–standard monetary system. Furthermore, it brings a stablecoin (JAX) to the Bitcoin ecosystem improving its scalability and stability. To support this ecosystem, Jax.Network built a variety of products and services, including but not limited to a DeFi platform, yield farming initiative, and decentralized wallets.

The blockchain company plans to surprise the community with more ambitious releases in the years to come. At the moment, the Jax.Network team is focused on increasing the hashrate power of its mining pool, which was launched earlier this year. JaxPool is the first mining pool to offer negative fees on Bitcoin mining.

"I'm proud to be the founder of such an innovative enterprise that is set to become a game–changer in the global crypto and blockchain industry. We spent more than three years on research and development of the protocol and key products, so even the bear market shouldn't stop us from entering the top 100 coins by market capitalization," Vinod Manoharan, Founder of Jax.Network commented on the occasion.

About Jax.Network

Jax.Network provides the technological infrastructure for a decentralized energy–standard monetary system. The Jax.Network blockchain is anchored to the Bitcoin network and issues two digital currencies JAX and JXN. JAX is a stablecoin pegged to the energy spent on mining, while JXN is an asset coin representing the value of the whole network. The Jax.Network team aims at making these coins a universal standard for the quantification of economic value. Established in 2018, the company united professionals from all over the world to build a blockchain network based on the Proof–of–Work consensus mechanism and pure state sharding as a scaling solution.


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Jax.Network welcomes BTC miners to join their pool http://www.saudimirror.com/jax-network-welcomes-btc-miners-to-join-their-pool/ Fri, 12 Aug 2022 12:53:26 +0000 http://www.saudimirror.com/?p=213172 DUBAI, United Arab Emirates, Aug. 12, 2022 (GLOBE NEWSWIRE) — Jax.Network, a blockchain merge–mined with Bitcoin, has launched a mining pool. JaxPool is a BTC mining subpool under a top–5 mining pool. Its goal is to merge–mine Bitcoin with the Jax.Network blockchain and provide miners with increased profitability.

To encourage miners to merge–mine Jax.Network, JaxPool offers negative fees on BTC mining. This means that miners not only don't have to pay any fees but also receive a 1% bonus on the mined BTC. As an added benefit, JaxPool miners are entitled to a portion of block rewards for merge–mining Jax.Network paid in JXN coins.

Miners can join the pool via one of the two modes. Mode 1 implies that miners will merge–mine the Jax.Network beacon chain along with BTC and receive their reward in BTC. They also will receive JXN coins as an additional reward but they won't be able to use a negative fee offer. Mode 2 allows miners to use a –1% fee, however, they won't receive any locked JXN rewards; only 20 unlocked JXN. Please note that the Mode 2 offer is eligible only for the first 700 PH/s.

"We clearly understand that miners need a stable and secure business model, especially during bear markets. JaxPool comes as a life jacket, offering a one–of–a–kind proposal to keep BTC miners afloat," Vinod Manoharan, Founder of Jax.Network commented.

About Jax.Network

Jax.Network provides the technological infrastructure for a decentralized energy–standard monetary system. The Jax.Network blockchain is anchored to the Bitcoin network and issues two digital currencies JAX and JXN. JAX is a stablecoin pegged to the energy spent on mining, while JXN is an asset coin representing the value of the whole network. The Jax.Network team aims at making these coins a universal standard for the quantification of economic value. Established in 2018, the company united professionals from all over the world to build a blockchain network based on the Proof–of–Work consensus mechanism and pure state sharding as a scaling solution.

About JaxPool

JaxPool is a BTC mining subpool under a top–5 mining pool. Its goal is to merge–mine Bitcoin with the Jax.Network blockchain and provide miners with increased profitability.

CONTACT Viktoriya Nechyporuk, Marketing Communications Lead
COMPANY Jax.Network
PHONE +380 67 657 0029
EMAIL viktoriya@jax.net
WEB https://jax.network


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Jax.Network is Excited to Unveil Global Merged Mining Alliance with Syscoin http://www.saudimirror.com/jax-network-is-excited-to-unveil-global-merged-mining-alliance-with-syscoin/ Thu, 28 Jul 2022 13:00:00 +0000 http://www.saudimirror.com/?p=213073 DUBAI, United Arab Emirates, July 28, 2022 (GLOBE NEWSWIRE) — Jax.Network, a blockchain merge–mined with Bitcoin, has announced the launch of the Global Merged Mining Alliance (GMMA) today. Together with Syscoin, they aim at contributing to the development of the Bitcoin network by supporting projects building on top of the world's first blockchain.

"The beauty of merged mining is that we can re–apply all of our hashing power to support multiple networks and build a thriving software ecosystem at the same time," said Jag Sidhu, Syscoin Lead Developer and Foundation President. "However, merged mining is currently relatively unknown, underdeveloped, and underutilized. The GMMA is here to change this."

As it was reported, Jax.Network partnered with Syscoin earlier this month and now they unveil plans to create the GMMA. The alliance will push forward the adoption of the Bitcoin network as well as enhance its security by helping merge–mined protocols, mining pools, and other platforms contributing to the Bitcoin ecosystem to succeed in their missions. More projects are expected to join the GMMA in the near future.

It's important to highlight that merged mining is considered one of the best ways for Bitcoin miners to earn extra profit without losing hashrate or increasing operational costs. Moreover, projects anchored to Bitcoin can not only offer higher rewards to miners but also leverage the security of the Bitcoin network.

"We're thrilled to partner with Syscoin to facilitate the development of the Bitcoin ecosystem," said Vinod Manoharan, Founder of Jax.Network. "By aligning the self–interest of miners with the best interest of the community at large, we're contributing to the global blockchain industry and propelling innovation in the merged mining sector."

About Jax.Network

Jax.Network is an open source project that provides the technological infrastructure for a decentralized energy–standard monetary system. The Jax.Network blockchain is anchored to the Bitcoin network and issues JAX, a stablecoin pegged to the energy spent on mining, and JXN, which is an asset coin representing the value of the whole network.

About Syscoin

Syscoin is a decentralized and open–source project founded in 2014 whose NEVM blockchain combines the best of Bitcoin and Ethereum in a single coordinated modular platform.

CONTACT Viktoriya Nechyporuk, Marketing Communications Lead
COMPANY Jax.Network
PHONE +380 67 657 0029
EMAIL viktoriya@jax.net
WEB https://jax.network


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Jax.Network unites with Syscoin in a merge-mining partnership http://www.saudimirror.com/jax-network-unites-with-syscoin-in-a-merge-mining-partnership/ Tue, 12 Jul 2022 15:00:00 +0000 http://www.saudimirror.com/?p=212959 DUBAI, United Arab Emirates, July 12, 2022 (GLOBE NEWSWIRE) — Jax.Network, a blockchain merge–mined with Bitcoin, is proud to announce a strategic partnership with Syscoin. Both projects make use of Bitcoin merge–mining to secure their networks and offer incentives to miners in the form of additional block rewards on top of Bitcoin mining.

In anticipation of Mining Disrupt, two major Bitcoin merge–mined blockchain projects have joined their forces with the purpose of strengthening and enhancing the Bitcoin ecosystem. This collaboration results in co–sponsoring the booth at the aforementioned conference on July 26–28th. Come join us in knowledge–sharing and experience the world's largest Bitcoin mining expo!

"It's rare to find other projects who truly understand the overlooked benefits of merged mining, let alone provide their own real utility required to push the space forward by essentially making Bitcoin more valuable. It's always a joy to work with people who share your values, and Jax.Network aligns with ours at a core level. I look forward to seeing the reception to what we have in store to reveal at Mining Disrupt," Jag Sidhu, Syscoin Foundation President stated.

Such a partnership should propel the wider adoption of merge–mining, as it is "green" mining that simply reuses the energy already spent on mining Bitcoin. Thus, auxiliary networks not only benefit from higher security but also allow miners to earn more rewards without any loss of hashrate or increased operating costs.

Vinod Manoharan, Founder of Jax Network, had the following to say about the partnership: “There are a few projects that use a merge–mining algorithm and even fewer that merge–mine Bitcoin. Like Jax.Network, Syscoin is one of those unique projects. Thus, we decided to unite our efforts in an incredible endeavor that we will be revealing at Mining Disrupt. Find our co–hosted booth there to get all the details first!”

About Jax.Network

Jax.Network provides the technological infrastructure for a decentralized energy–standard monetary system. The Jax.Network blockchain is anchored to the Bitcoin network and issues two digital currencies JAX and JXN.

About Syscoin

Syscoin is a decentralized and open–source project founded in 2014 whose NEVM blockchain combines the best of Bitcoin and Ethereum in a single coordinated modular platform.

CONTACT Viktoriya Nechyporuk, Marketing Communications Lead
COMPANY Jax.Network
PHONE +380 67 657 0029
EMAIL viktoriya@jax.net
WEB https://jax.network


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Jax.Network has released Layer-2 stablecoins on BscScan, Polygonscan, Etherscan, Avalanche C-Chain http://www.saudimirror.com/jax-network-has-released-layer-2-stablecoins-on-bscscan-polygonscan-etherscan-avalanche-c-chain/ Wed, 29 Jun 2022 12:35:53 +0000 http://www.saudimirror.com/?p=214730 DUBAI, United Arab Emirates, June 29, 2022 (GLOBE NEWSWIRE) — Jax.Network, a blockchain project focused on building an energy–standard monetary system, has minted WJAX, JAXUD, and JAXRE on its DeFi platform. The Layer–2 stablecoins are available on Binance Smart Chain, Ethereum, Polygon and Avalanche C–Chain now.

WJAX (Wrapped JAX), JAXUD (JAX Dollar), and JAXRE (JAX Rupee) are stablecoins, minted by the smart contract on Jax.Money. This DeFi platform can be used to issue localized derivatives soft–pegged to an energy token JAX, which retains its stable value thanks to a unique reward function. At the moment, tokens can be tracked at BscScan, Etherscan, Polygonscan, and Snowtrace (Avalanche C–Chain).

Token

Network
BSC Ethereum Polygon Avalanche C–Chain
WJAX 0xf07352E8e3b88e8500D24301f5FC05A916d708cc 0x2Df380cD3eeB7F1Ee5deB087Fe9FbCF8959095Ee 0x1d60AA1D6137Dcb1306C8A901EBd215Ca661d0cb 0xdd32f4dba92b04f2d4ade25dfad7a127027c379d
JAXUD 0xeff49aED7baaBa69DCBdA577b34850c41e8F5226 0x935b0bF173552cd55E53AD651a783430a5700cD4 0x9e79696a4c1163d35f01d71dcbbc5c139691c6d3 0x1d60aa1d6137dcb1306c8a901ebd215ca661d0cb
JAXRE 0x86ECE7D9cdA927B3Ec4044Df67B082FA55A1c198 0x88d7FE32284f1dBD398D58222DE8DFd87dD75460 0xd85a8b4964850ae85121d5652e6f0696512feb10 0x9E79696a4C1163D35f01d71DcbBc5C139691C6D3

"The current debt–facilitating monetary system manipulates people into working for currencies that are subject to inflation. We took several years to come up with a currency backed by energy, reflecting efforts put into its mining and launched a whole new energy–standard monetary system to serve people's needs all around the world," Vinod Manoharan, the Founder of Jax.Network, revealed in a comment.

Apart from their transactional use, localized stablecoins such as JAXRE and JAXUD offer an excellent arbitrage opportunity with their fiat representations, as Jax.Money provides better exchange rates. Feel free to try out energy tokens fully backed by on–chain reserves at Jax.Money now!

About Jax.Network

Jax.Network provides the technological infrastructure for a decentralized energy–standard monetary system. The Jax.Network blockchain is anchored to the Bitcoin network and issues two digital currencies JAX and JXN. JAX is a stablecoin pegged to the energy spent on mining, while JXN is an asset coin representing the value of the whole network. The Jax.Network team aims at making these coins a universal standard for the quantification of economic value.

About Jax.Money

Jax.Money is a stablecoin payments system with 100% on–chain reserves backed by energy spent or Proof–of–Work. Its primary function is issuing localized derivatives soft–pegged to an energy–underwritten stablecoin (Wrapped JAX). Such a solution helps to maintain the stable value of a localized derivative and to simplify the payment process itself.

CONTACT Viktoriya Nechyporuk, Marketing Communications Lead
COMPANY Jax.Network
PHONE +380 67 657 0029
EMAIL viktoriya@jax.net
WEB https://jax.network


GLOBENEWSWIRE (Distribution ID 1000671800)

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A UBI program initiated by Jax.Network is launched http://www.saudimirror.com/a-ubi-program-initiated-by-jax-network-is-launched/ Mon, 06 Jun 2022 08:22:46 +0000 http://www.saudimirror.com/?p=214264 DUBAI, United Arab Emirates, June 06, 2022 (GLOBE NEWSWIRE) — Jax.Network, a blockchain company building an energy–standard monetary system, initiated a universal basic income (UBI) program via JaxCorp DAO, a decentralized autonomous organization created specifically for this purpose. The goals of a program are to alleviate poverty and replace other need–based social programs that potentially require greater bureaucratic involvement.

Run on smart contracts, the UBI initiative allows the DAO to distribute a minimum amount of funds to everyone who applies for it in a decentralized and secure way. Ideally, it is a guaranteed income that users receive to cover their basic needs, like food and shelter. At the moment, the first 10,000 people can get free $10 as an advance, which will be deducted from the future UBI payouts.

At the initial stages, the UBI amount is forecasted to be higher for early adopters. With the wider awareness of the program, it may decrease a bit; however, creators expect some people to join the program as donors and donate funds to sustain the relevant UBI level. As the UBI initiative is funded by the fees collected from transactions carried out in stablecoins created on the Jax.Money platform, higher volumes can also become a major booster of the UBI payouts in the future. Thus, everyone who supports UBI should switch to JAX Dollar (JAXUD) and JAX Rupee (JAXRE) in order to keep the work going.

"We aim at building a society, where individuals have the freedom to do whatever they choose, so long as they do not infringe upon other people's rights and liberties. Thus, UBI becomes a cornerstone for bringing our philosophical vision into life," Vinod Manoharan, the Founder of Jax.Network shared in a comment.

About Jax.Network

Jax.Network provides the technological infrastructure for a decentralized energy–standard monetary system. The Jax.Network blockchain is anchored to the Bitcoin network and issues two digital currencies JAX and JXN. JAX is a stablecoin pegged to the energy spent on mining, while JXN is an asset coin representing the value of the whole network. The Jax.Network team aims at making these coins a universal standard for the quantification of economic value.

CONTACT Viktoriya Nechyporuk, Marketing Communications Lead
COMPANY Jax.Network
PHONE +380 67 657 0029
EMAIL viktoriya@jax.net
WEB https://jax.network


GLOBENEWSWIRE (Distribution ID 1000657465)

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