One of the great things that blockchain tech has brought, especially in 2018 is the rapid introduction of phenomena blockchain projects.
Most of these projects are quite impressive and are birthed out of well thought ideas that aim to bring real use case.
DxChain Network is one such unique market phenomena, having now introduced an extremely unique three chains on chain structure, which is slightly different from what the crypto market has seen, thus far.
It is worth noting, that current blockchains can only do three things; perform financial transactions, perform smart contracts and trace the flow of production. DxChain Network is a scalable, private and extensible blockchain project that aims to seriously compete in the real life use case area of big data and machine learning computation, with the support of decentralised data storage.
Data computation and storage are the two fundamental capabilities of DxChain Network.
Some of the transactions to take place on the network are as such;
DxChain Network will be used as a data exchange platform
· To trade data on the platform
· To analyse data for supporting business insights
DxChain Network will provide miners with incentives based on the usefulness of the work that they passively provide.
This network is designed to assign several roles to manage and schedule jobs in the system. This achieves the computation goal in a centralised parallel computing system.
DxChain Network can trade and store data that previously could not be owned by any commercial company.
So to sum it up, DxChain is envisaged as a platform that provides;
· Data storage
· Data exchange
· Data computation
Dxchain will incorporate on the industry proven big data platform, known as Hadoop, as its consensus protocol, in order to facilitate big data and machine learning.
One of the problems DxChain is aiming to solve is the issue of data privacy and giving data owners the rights to receive some kind of earning for their data.
We know that big companies have the capability to run big data tasks as they can afford expensive hardware hence own most of the existing consumer data.
Big companies would eventually sell existing consumer data to third parties, such as advertising, without consent from consumer and any benefits to the consumer.
As such the DxChain Network is also designed to solve this consumer data leak by providing data privacy and at the same time serve as a data trading platform for users who want to sell their data.
DxChain Network’s team has designed a specific chains on chain structure, enabling the network to be able to efficiently provide decentralised big data and machine learning computation with support of decentralised data storage.
The chains on chain structure consist of the master chain and two side chains i.e. storage chain and computation chain.
· Master Chain
It orchestrates the storage chain and the computation chain to maintain the masterchain blocks. The masterchain is immutable, therefore becomes very good for storing small pieces of information.
· Storage Chain It is incharge of storage of data, also called as data side chain (DSC) built upon P2P distributed file storage system. DSC stores non-asset information and uses proof of spacetime (PoSt).
· Computation Chain It is incharge of data computation, also called computational side chain (CSC) designed for useful work to solve real business problems. CSC uses provable data computational (PDC)
The unique properties of the DxChain three chain structures are:
· Master and side chains structure
· Immutable master chain and elastic side chain
DxChain ensures the correctness of the network’s computation by;
1. Verification game algorithm
2. Provable data computation (PDC)
Hence, solving outsourced computation and decentralised mining problems.
DxChain’s competition is twofold.
1. Storage Category: from blockchain projects as FileCoin and Storj. These are good projects, but lean only on providing storage, without computation.
2. Computation Category: projects such as Golem who’s computing does not need a lot of data. Plasma uses computing for general purpose, it focuses on financial transaction. Truebit, a project which does not have storage.
DxChain’s native protocol token is known as DX.
Token Type: ERC20
Total Supply: 100,000,000,000 DX
ICO Token Price: 1DX = 0.000002ETH
Most team members have impressive experience in blockchain tech, in distributed system and big data as well.
Overall this could be a successful ICO. Their idea is feasible and no competitors in storage plus computation space. As outlined in the whitepaper, the only threats to this project are the risks mentioned.
Website: https://www.dxchain.com/news/
