DAEX OVERVIEW

INTRODUCTION
The Cryptocurrency Market
The current total market values of all crypto currencies has far exceeded 280 dollars. Among all these bitcoins stands out with 50% of the market share.

The two types of cryptocurrency exchange namely.
centralized and distributed exchange

The advantages of distributed ledger is that the trade is well protected. Also trading and clearing costs are low.
Centralized are just the opposite.

The goal of DAEX is to provide a better infrastructure for the crypto currency trading industry by taking the main parts of the main stream securities.

DAEX ECOSYSTEM

Advantages
it is secure and trust worthy.

CLEARING CHAIN
These are involved..

• The clearing contract

• The clearing mechanism

• The clearing account

• The clearing protocol

• Clearing contract: This is based on the smart contract technology..it plays a pivotal role in this clearing service.
  After a matched trade is formed in DAEX participating exchange,it is sent to the clearing chain.A clearing smart contact is then formed for this matched trade.

• Clearing mechanism: It customizes a specialized consensus mechanism based on clearing value factor (CVF-POS ).
  The high performance of CVF-POS will avoid the centralization of computing power and clearing power through technology democratization expanding network effect with relatively low network cost.

• Clearing Account: A dedicated account will be opened for each user .The accoutrements is used to register digital assets,keep asset balance and clearing history.
  Since all DAEX participating exchange use one clearing ledger. Customer accounts are cleared and managed on the same ledger.

• Clearing protocol: In the DAEX ecosystem,business standards and protocols such as clearing protocol specifies the communication mechanism between exchanges and the DAEX clearing service.

Atomic settlement: The clearing chain supports multiple assets. These assets can be transferred between different chains via IBAS(inter-block chain assets settlement).

DAEX wallet:
These are the client system of clearing of the chain...

Characteristics of DAEX wallet

• Multiple part private key: Uses three private key.
• Private key can be restored: This can only be done if the user loses any part of his private key.
• Complete autonomy: User has full digital autonomy over digital assets in his own wallet.
• User part:stored on user's mobile client.
• Wallet part: It is stored on hot wallet mode on DAEX servers in the internal network separated by DMZ zone.
• Backup part: stored on the clearing chain in the cold state. it is used for recovery purpose.

Token Reward Plan: When the DAEX solution is in production,those original ERC -20 tokens will be re-purchased and destroyed. The clearing chain's new native tokens will be issued with a 1:1ratio.
DAEX Public nodes: They provide the infrastructure to maintain the stable operation of the clearing chain.
Exchange nodes: It is one source of exchange income.
Super nodes: When the clearing power of individual DAEX wallet user reaches certain level,the individual can apply to become a super node.

Incentives For Users:

• Reward for witnessing clearing.
• Reward for user participation.

The DAX token will be the internal cryptocurrency of the DAEX ecosystem and will also power the system. The token will be based on the Ethereum (Erc20) blockchain, it will offer high liquidity to it's holders and funds generated from the token sale will be used to maintain the system.

WEBSITE:-https://daex.io/

WHITEPAPER:-https://daex.io/whitepaper.html

TWITTER:-https://twitter.com/DaexBlockchain?s=09

Writer information

Writers name :- Chike

Bountyox username :- Chike