What is DxChain?
DxChain is developing a decentralized big data and machine learning network.Based on the premise that data is valuable and data creators should be able to own and benefit from their own data. The team aims to tackle major big data issues such as privacy, ownership, and security while supporting business intelligence and machine learning applications.With DxChain, users would be able to own and control their own data, and securely trade and analyze data. The costs of data retrieval and storage would also be reduced significantly.DxChain is based on a chains-on-chain architecture which includes one master chain and two side chains. The structure was designed as such in order to solve multiple issues related to data computation, storage, and privacy issues; this would otherwise be difficult to do simultaneously with only one chain.
Master chain + 2 side chains
Master Chain: Stores asset information and events such as states, transactions, receipts, and contracts. The master chain uses proof-of-work (PoW) to provide the highest level of security and stability.
Data Side Chain (DSC): Stores non-asset information, or metadata, which is a set of data that provides information on other data and serves as a method of storage retrieval.
Computation Side Chain (CSC): Stores specific computing tasks performed on the DxChain platform and is responsible for recording matching processes of computation, such as whether a certain task can be completed or not.
How advanced is the project?DxChain has completed the initial design research and released the white paper. It is currently working on the minimum viable product network launch. Additionally the team managed to secure a broad base of institutional investors. The launch of the main network for the main chain and the two side chains is planned for the fourth quarter of 2019.
Key featuresVerification game: Enables any computational task to be performed securely while minimizing the number of network node computations required.
Provable Data Computation (PDC): Allows the network to verify the accuracy of computation results. This is used by the computation chain to verify the authenticity of results and reduces the prevalence of false information.
Proof of Spacetime (PoSt) & Provable Data Possession (PDP): Used as the consensus protocol of storage. The data chain uses PoSt and PDP to verify processes and to prevent various types of attacks that might bring down the network.
Data Model Enables Privacy Preserving: Enables flexibility in retrieving files at a more granular scale.
What are the tokens used for and how can the token value appreciate?The DX token is the network’s native protocol token. The token will initially be issued as ERC-20 tokens after the crowdsale and will be migrated to the DxChain mainnet after it is launched.There are several uses for the tokens:• A secure and primary method of payment between participants in the network.• Providers of computational and storage resources that are required for running various apps and transactions will be rewarded with DX tokens.• Miners will be rewarded with DX tokens based on the usefulness of work that they provide.DX tokens should appreciate in value as more users join and use the network. This is driven by numerous factors, including the number and type of applications available on the platform, user experience, data storage capacity and processing speed, etc.
The DxChain team counts with three co-founders and another six members of the core team plus one intern.
Allan Zhang is a co-founder at DxChain. He has previous experience with blockchain technology and is a serial entrepreneur. 10+ years of experience in mobile security, network application protocol detection and network based vulnerability detection assessment. Founder & CEO of Trustlook, which develops AI-based cybersecurity products. Previously worked at Palo Alto Networks, TELUS Security Solution, nCircle, and Lucent Technology
Wei Wang is a co-founder at DxChain and a previous principal scientist at AT&T for blockchain research. Experience in various fields including blockchain research and development, big data, and distributed systems. Previously the principal scientist of blockchain research at AT&T and the principal scientist of big data & parallel computing at Hortonworks.
James Li is the third co-founder of DxChain. Experienced in blockchain systems design and architecture. 10+ years of working experience in network security. Previously the manager of the mobile department at Trustlook, the principal security engineer at nCircle Network Security, and a senior software developer at Lucent Technologies.
Taosheng Shi is Blockchain Engineer 10+ years of experience in distributed system research and development. Previously worked at NOKIA as innovation manager for 5 years conducting R&D in data warehousing and radio cloud platforms providing expertise in big data integration, data warehouse architecture, etc.
Li Lu is Blockchain Researcher 10+ years of experience in distributed systems and big data. Previously the Director of Engineering at LaiOffer, an Internet-based education platform. Previously worked at The Apache Software Foundation, Hortonworks, Google, and Microsoft. Obtained his Ph.D. in Computer Science at the University of Rochester.
DxChain counts with four advisors: Yan Gong, who is a professor at the Chinese Business School CEIBS, Kevin Hsu, who is the founder of BlockVC, a blockchain investment fund, Leo Wang, who is the founding partner of PreAngel, a Beijing-based investment fund, and Fan Zhang, who is a partner of Vancoin.
The DxChain Network offers two resources: computation and storage. For this reason the DxChain Network will come with two side chains. The Data Side Chain (DSC) will store all non-assets information. The Computing Side Chain (CSC) is designed to solve real world business problems. A master chain is responsible for managing the overall transaction and communicating with the two side chains through smart contracts. Each side chains uses a different consensus mechanism. The DSC uses Proof of Spacetime (PoSt) while the CSC uses Provable Data Computation (PDC).The computation engine of the DxChain Network will be Hadoop. Apache Hadoop is an open source software that enables to use a network of many computers to solve computational problems.DxChain wants to empower users to trade their own data, which then can be used by a third party to derive meaningful conclusions with machine learning and big data.
Hype rateMarket growth potential: HIGHHype in social networks: MIDDLETwitter: 30,798Telegram (chat): 61,284Telegram (news channel): 7,359Website: 12,161 unique visitors per month
Using the blockchain for the services that DxChain wants to offer provides several advantages. The DxChain blockchain puts users in control which data they wish to share with enterprises and what price they want to charge for their collaboration. Furthermore, through blockchain the user data becomes immutable and is stored encrypted so that data breaches can be avoided.The DxChain team managed to form a strong base of institutional investors. More than 20 funds have provided funding for the project. This will be helpful when it comes to establish credibility in the public token sale. The high number of investors is also a validation of the concept elaborated by DxChain in their white paper.
DxChain will likely not be the only project operating in their niche. With Hypernet, a blockchain project that uses parallel computing, there exists a platform with a similar focus. In addition, the segment of providing distributed computational power via the blockchain is crowded and dominated by already established projects such as Golem. It will be a challenge for the DxChain team to sufficiently differentiate their service from other market players in order to provide sufficient value added for prospective customers.The consensus mechanisms used by DxChain have not yet been tested in a real world setting. Despite the theoretical validation of the consensus mechanisms, there are risks associated with them. It is unclear how well these mechanisms will perform in practical circumstances and how smoothly the implementation will be.
DxChain is an interesting and highly specialized blockchain platform. The challenge for a successful ICO and later on market penetration will be to signal the novelty of the approach and the unique design features that differentiate them from other projects with a similar focus. The solid institutional investor base points towards a strong ICO performance in the short run.
For flipping: Good.The project has average market awareness but with strong team, good idea and token metrics. With the backing of the numerous investors, we believe the project will be able to get listed on a decent exchange.Note that the project is allocating 44% of the hard cap to crowdsale, which is relatively high among recent ICOs. It is refreshing to see that the public can have a wider participation of the project.
For long-term holding: Good.The project is very ambitious that focuses on both data storage and computation, as well as the migration of Hadoop to a decentralized environment. It also aims to provide the world’s largest storage space.If the project can achieve its vision, the potential can be massive and lots of dApps can benefit from DxChain.On the other hand, while the team is impressive, there is not much work that is released publicly yet. We will look closely to the MVP that is set to launch in the near future.
referral link: https://t.me/DxChainBot?start=3whqwj-3whqwj
