DAEX is a clearing solution for centralized cryptocurrency trading predicated on Distributed Ledger Technology. Clearing and settlement rules are programmed into DAEX Clearing Astute Contracts. All clearing processes run automatically without human intervention. The clearing objectivity is ensured by the consensus mechanism on the clearing chain. In additament, ours customers digital assets are registered and stored in the DAEX clearing chain. No other institution or individual can access this asset without the owner's sanction. Check this video below to learn more.
Implementations
The Clearing Chain
Cryptocurrency clearing accommodation predicated on distributed ledger technology. It utilizes Clearing as a Accommodation (CaaS) method to provide clearing accommodations for cryptocurrency exchanges.
DAEX Wallet
A cryptocurrency wallet that fortifies multiple signatures and multiple digital assets. It accesses exchanges to trade cryptocurrencies and the clearing chain to manage its assets.
Multiple-Part Private Key
A private key that is broken into several components. Some components have to be used together to access assets in the wallet.
Clearing as a Accommodation (CaaS)
A clearing accommodation that is provided utilizing a cloud mode. The clearing facility is deployed on a public cloud. Exchanges and clearing members obtain clearing cognate accommodations through APIs or clients.
With the presence of DAEX, it's hoped that it will be more efficacious in current cryptocurrency quandary and jeopardies. Making a solid substratum for the development of industry.
The main purport of DAEX is to provide better infrastructure for cryptocurrency exchange by taking part in the main security of exchange industry and by taking advantages of the incipient chance that brought by distributed ledger technology. Categorically, trading and clearing will become disunited into different entities. At this time the centralized exchange will perpetuate provide trading accommodations.
Security Quandary
Hacking is still mundane in several exchange companies. This is arduous to eschew because of the lack of supplemental security on each platform. After hacking occurs frequently, many exchanges must reach consensus that general clearing and asset custodial accommodations are needed to forfend the market and to ascertain sustainable market magnification. The rapid development of cryptocurrency trading requires a more efficacious and safer clearing accommodation. Consequently DAEX is the answer to the desiderata of this market.
DAEX Blockchain Ecosystem
Within the Ecosystem, DAEX consists of clearing accommodations predicated on Distributed Ledger Technology, Centralized Exchange and the utilizer's wallet. Traders utilize their wallets to trade on exchanges. After trading is matched on the exchange, the exchange sends trades that match the clearing accommodation. CaaS clearing accommodations are carried out by astute contracts on distributed ledger technology. During the initial phase of DAEX, cryptocurrency will be accommodated. During the future DAEX phase, cryptocurrency derivatives will be serviced. That is, DAEX will provide clearing accommodations for cryptocurrency derivatives traded on the exchange.
Secure
Participating exchanges must meet the business and technology requisites of the ecosystem, thus the quality of trading accommodation is maintained. User’s assets are all held on the blockchain. Assets cannot be moved without user’s admission. Multiple-part private key further forfend user’s assets and additionally a safe recuperation mechanism in case a utilizer loses his private key. Astute contract and the blockchain technology guarantees the correctness of clearing and settlement.
Trust
Decoupling between trading and clearing is the best way to assure the safety of customer trading assets. The indemnification fund contributed by participating exchanges provides another layer of safety. The DAEX ecosystem consequently provides a trustworthy environment for exchanges and traders.
Open
First of all, the DAEX ecosystem is open to and welcome incipient exchanges. Exchanges that participate in the DAEX ecosystem can utilize all products and accommodations provided by DAEX, including wallets and clearing. Secondly, participating exchanges can expect to utilize more value integrated accommodations DAEX is going to provide, including cryptocurrency derivatives trading.
Website : https://daex.io/
Whitepaper : https://daex.io/whitepaper.html
Telegram : https://t.me/DAEXOfficial_en
Twitter : https://twitter.com/DaexBlockchain
Author :rosebit
Bitcointalk Profile:https://bitcointalk.org/index.php?action=profile;u=1827681
