It is without doubt that the introduction internet into our modern world has changed virtually everything. Today, unlike the times before the launch of internet, individual can now maintain asset their asset digitally. However, this system is fraught with two major challenge credibility and security. This two issue has affected the wide adoption of digital asset as a means of maintaining the liquidity of money. Individuals can lose their asset in the twinkle of an eye, all it takes is just a malicious ware or hackers attack. More so, the existing clearing solution is not reliable, digital asset are no perfectly liquid, digital asset owners are restricted to limited platforms where they can use their asset.
DAEX
The DAEX positions itself as a solution in the existing digital asset ecosystem, embodied in its architecture is the solution to the problems that affects the wide adoption of digital asset by the mass market. There are four basic components that distinguished DAEX among its contemporaries. They are DAEX’s distributed multi-asset wallet(DMW), Asset Clearing Center(ACC), Asset Registration and Settlement (ARS) and the distributed ID center (DIC). The mentioned components work together to ensure the DEX system is highly reliable and also ensure the DAEX ecosystem exist as an open clearing and settlement
DAEX ECOSYSTEM
The ecosystem revolves around the account owner. There are two kinds of account in the DAEX ecosystem. The personal accounts and the organizational accounts. The personal account is designed for individuals while the organizational account is designed for firms and industries. The organizational account can be further divided into Exchange account and general organizational account. The major difference between the individual and the organizational account is that the organizational account the former works well for individual payment while the latter works well for high level volume of trading. Furthermore users are obligated to provide their real name, which will be attached to the digital asset as a means of proving ownership. All information will be verified
DAEX WALLET
The DEAX wallet is designed to work on a decentralized chain tagged ‘clearing chain’. Inherent in the design is threshold signatures and global identity certificates and a trusted computing environment and other standard governance mechanisms. Through the wallets users can clear transaction on their own without the intervention of q third party
DAEX CLEARING CHAIN
The DAEX clearing chain is the pillar behind the functionality of DAEX. It serves as an interface for exchange of digital asset on the DEAX platform. Apart from the fact that it facilitates trade and payment, the DAEX is highly flexible in operation such that it can accommodate various business scenarios. Some key advantages of the DAEX clearing chain are it is robust i.e. account on the distributed ledger is more efficient (when compared to existing system). Furthermore, it allows a fast and efficient transaction of multiple asset in a split of a second
DAEX ARCHITECTURE
There are three key layers that make up the DAEX. They are the underlying protocol, the core module layer and the ecosystem service layer