INTRODUCTION
The Blockchain and it's cryptocurrencies have gained lots of influence and as millions of different cryptocurrencies hit the market it gains more adoption and even more exchange platforms are needed. With an excavator platform anyone from anywhere in the world can easily exchange their coin to another one of just swap it for cash, it also works vice versa.
Now, in the case of exchange platforms, there are currently only two kinds of exchanges;
A Centralized Exchange and a Distributed Exchange.
In the centralized exchange, a middle man is needed to make sure that a customer or user is satisfied and this middleman is also in charge of maintaining and handling the system properly.
An exchange of this kind offers strong liquidity, flexibility and fast matching speed but still it faces issues such as low security because users assets are exposed to both internal and external risks of being hacked and the trading fees are conspicuously high.
In the distributed exchange, the distributed ledger technology is used in the place of a middle man, it is highly automated and programmed to perfectly work by it self. Users can conveniently trade with one another without having to pay some conspicuous fee for trading and again a traders asset is well secured but then it faces serious issues in terms of flexibility, liquidity and slow matching speed.
And this is where DAEX comes in....
DAEX is a transparent and distributed cryptocurrency clearing ecosystem that aims to provide clearing solutions for cryptocurrency exchanges. The clearing-as-a-service (CaaS) is based on distributed ledger technology and smart contracts.
DAEX ECOSYSTEM
The ecosystem is a cryptocurrency exchange clearing service built on the distributed ledger technology, centralized exchange and user wallets to provide a better and convenient atmosphere for traders to comfortably trade on. DAEX integrates the beneficial part of a centralized exchange with the beneficial part of a distributed exchange, with this innovation customers can enjoy the benefits offered by both forms of exchanges in one goal.
The aim of DAEX is to provide CaaS for the cryptocurrency exchange industry and because this CaaS is based on distributed ledger technology, it will operate objectively and transparently for everyone thereby making the industry resources used effectively.
DAEX can be used as a more effective way to list digital assets and also enable exchanges to be more competitive.
DAEX will also design it's own special consensus algorithm based on clearing value factor (CVF-POS). It is a high standard of distributed digital clearing ledger with a purpose to prevent malicious sabotage behaviors through strict clearing responsibility arrangements.
The DAEX Wallet
This wallet is the client system of the clearing chain that is automated to support and manage multiple types of cryptocurrencies and it possesses three private keys where only two is needed to unlock your wallet while the third is kept in a cold state in case one loses their private key it can be restored with the third one.
The DAX Token.
This is an Ethereum (Erc20) based token and also the internal cryptocurrency of the DAEX ecosystem, the fund is used to for the development of the system. The DAX Token can be used for;
- Clearing fee
- Settlement fee
- Exchange trade matching fee and
- Derivatives clearing fee.
The continued and widespread adoption of the DAX token will boost the growth of the DAEX Foundation, make it undertake more projects and the token will become more liquid.
TEAM
ROADMAP
Related links;
Website: https://daex.io
Whitepaper: https://daex.io/whitepaper.html
Telegram: https://t.me/DAEXOfficial_en
Medium: https://medium.com/daex
Twitter: https://twitter.com/DaexBlockchain
Reddit: https://www.reddit.com/r/DAEX_Blockchain/
Bountyox Username: Jude07
DISCLAIMER “This article was created in exchange for a potential token reward through Bounty0x”