DAEX: INTRODUCING INNOVATIVE CHANGES INTO THE CRYPTO SPACE

Presently, the cryptocurrency industry is faced with diverse risks that account for its inefficiency and reluctance of the mass market in adopting it as a general mode of transaction. One of such risk is scalability. The transaction per second speed that blockchain can handle is rather too low for the large volume of daily transactions that goes on in the capital market.

Yet another risk that blockchain has is that of difficulties in working on the blockchain platform. The technicalities involved in working on blockchain platform dissuades most people from using it.

DAEX recognizes all these challenges and comes up with an efficient platform that can efficiently tackle all these problems. DAEX efficiently resolves these imperfections and inadequacies of the present cryptocurrency world and set a firm basis for the healthy growth of the cryptocurrency industry.

WHAT EXACTLY IS DAEX?

DAEX is a processing option for centralized cryptocurrency transaction and exchanging platforms. It leverages on disaggregated or shared ledger technology to achieve the clearing service. The clearing and settlement laws are incorporated into the Smart Contracts using the DAEX clearance system. The clearing procedure is preprogrammed and needs no human supervision.

The goal of clearing is secured using the consensus system on the clearing chain. Again, customers’ digital assets are documented and saved on the DAEX custom clearing chain. Outside the original owner, the digital assets cannot be assessed.

The aim of DAEX is to offer an enhanced infrastructure for the cryptocurrency world by using a significant proportion of the mainstream exchange trading industry and by leveraging on the new opportunities introduced by the shared ledger technology.

direct implication of this is that trading and clearing is split into diverse entities. The present centralized trading platforms will keep offering trading service, however, the clearing aspect will be undertaken by a regular clearing service that is premised on DAEX solution.

As opposed to what obtains with the conventional centralized clearing services, DAEX clearing service is rather unique as it is built on shared ledger technology. The shared ledger technology ensures proper clearance and settling of trades. Through the use of distributed ledger technology, the assets of the trader are maintained in their own accounts on the blockchain.

Without the traders' assent, the assets cannot be accessed and this is how DAEX blots out the risks inherent in the present centralized exchanges.

DAEX ECOSYSTEM

FEATURES OF DAEX ECOSYSTEM

The Clearing Chain: Cryptocurrency clearing service premised on shared ledger system. It employs Clearing as a Service (CaaS) technique to offer clearing services for cryptocurrency platforms.

The DAEX Wallet: This is a cryptocurrency wallet that works with many signatures and more than one digital assets. It allows exchanges to transact in cryptocurrencies and the clearing chain to handle its assets.

Multiple-part private key: A private key that is decentralized into diverse components. Some components must be used synergistically to reach assets in the wallet.

Clearing as a Service (CaaS): This is a clearing service which is offered through the use of a cloud model. The clearing facility is borne on a public cloud. Exchanges and clearing members get clearing-oriented services via APIs or clients.

DAEX ecosystem is made up of a service based on distributes ledger technology known as clearing service. This clearing service is also based on centralized exchanges and user wallets too. Through this, users will be able to use their wallets to carry out varieties of transactions on exchanges.

DAEX has objectives for cryptocurrencies in exchanges; that is cryptocurrencies will be serviced during the initial phase of DAEX, while at a later stage DAEX will service cryptocurrency derivatives.

DAEX Ecosystem Offers The Following Advantages;

Security: By leveraging blockchain and smart contracts, clearing is carried out successfully. DAEX ensures optimum security by making sure participating exchanges meet up the necessary requirements of the ecosystem. Also, with assets saved on the blockchain, users are at peace as no transaction can be done without their consent.

Trust: By allowing decoupling between trading and clearing and taking into account the Insurance fund contributed by participating exchanges, DAEX ecosystem provides a trustworthy platform for traders and exchanges.

Open: DAEX is open to all exchanges and also making available product and services for their utilization such as wallet and clearing etc.

TOKEN ALLOCATION

ROADMAP

DAEX TEAM

CONCLUSION

The risks inherent in current cryptocurrency platform scares so many away from using cryptos. Traders fear that their assets can be accessed outside their knowledge. DAEX comes up with an effective solution where only the trader will have to grant the permission before their assets can be accessed. The DAEX token, DAX is an ERC20 standard type token which is Ethereum-based. The total volume released is 2 billion tokens. It is used to reward nodes that participated in developing the DAEX forum and to incentivize more users to join the forum. It could as well be used as clearing fee, exchange trade matching fee and settlement fee.

Some of the DAX token mined will as well be used to compensate the founders and advisors.

TO KNOW MORE ABOUT DAEX

Website: https://www.daex.io

Twitter: https://twitter.com/DaexBlockchain

Telegram: https://t.me/DAEXOfficial_en

Medium: https://medium.com/daex

Reddit: https://www.reddit.com/r/DAEX_Blockchain/

YouTube: https://www.youtube.com/channel/UCqgUNUY8fM6-XIbweKrYL0w

Whitepaper: https://www.daex.io/daexPaper.do

WRITTEN BY

JULIET SMITH

Bountyox username: eni198881