Evaluation of the DAEX project

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What is DAEX?

DAEX, found online at DAEX.io, is an open electronic payment clearing and distribution platform. The goal of this platform is to provide clearing solutions for centralized cryptographic exchanges.
The project is led by an organization based in Switzerland called the DAEX Foundation. The organization has reached a partnership with the Qtum Fund, Jenga Blockchain Capital, Sora Ventures, 8 Decimal Capital, 360 and other companies.
DAEX wants to create a hybrid exchange that combines the benefits of centralized and decentralized exchanges. DAEX is one of many organizations looking to launch a hybrid exchange.

What issues does DAEX seek to address?

Why do we need a solution like DAEX? This platform seeks to address some of the major issues facing today's electronic money industry.
Today, there are two main types of exchange, including centralized and decentralized exchanges. The central trading floor provides a centralized trading platform for traders. They hold the money of traders and traders complete transactions on the entire order. These exchanges are fast and highly liquid, but traders do not have full control over their money.
Exchange decentralization works in a different way: they cut off middlemen and allow traders to complete P2P transactions. Traders have full control over their assets, allowing them to maintain their entire money safe. However, decentralized trading floors often face liquidity problems and long trading times.
DAEX aims to address both of these issues by creating a centralized / centralized electronic money exchange.

How the DAEX system compensates for electronic money exchange works?

DAEX provides a hybrid electronic money exchange infrastructure. The purpose of this foundation is to combine the benefits of centralized and decentralized exchange. The end result, ideally, is a highly secure platform, fast transaction time, strong liquidity and unreliable environment.
Important innovation with DAEX is that it will separate clearing and transaction services into different entities.
That means that centralized exchanges using the DAEX protocol will be able to continue to offer transactional services. However, all clearing and payment services will be based on the DAEX platform. The foundation of DAEX is an open source public blockchain that ensures the properties of the trader are kept in their own account.
The end result is that DAEX users can enjoy the benefits of centralized, easy-to-trade transactions - and the security of a decentralized exchange - including the maintenance of rights. Full access to their funds.
DAEX achieves this with a number of basic technologies, including Clearing Chains, Clearing Accounts and Wallet DAEX.

What is a Clearing Chain?

The Clearing Chain brings together three users to the DAEX ecosystem, including end users, centralized exchanges, and DAEX Foundation (DAEX.io). The fund acts as a bridge connecting the other two participants through the DAEX blockchain - also known as the "clearing house".
Clearing Chain will provide clearing and settlement services to individual and institutional users. This is the basic process involved in each transaction:
  • First, traders use their wallets to conduct transactions on the exchange that support DAEX
  • Second, the exchange matches the transaction
  • Third, after the exchange finds a matching order, the order is sent to the clearing chain, where an intelligent contract is established to complete a matching order.
  • The smart deal is on the Delete Chain, where it serves two functions - it validates the matching order to ensure that the transaction meets the requirements; and, it completes the consensus mechanism and updates the corresponding account on the accounting book with the new transaction information
The DAEX Clearing Chain supports atomic settlements: multiple digital assets can be transferred instantly between different strings just by using the DAEX wallet.

Delete the account

Each DAEX user will have a clearing account. This account is used to register digital assets, track asset balances, and view transaction history.
Since all DAEX-supported exchanges use the same accounting book, all of the client's transaction assets are managed on the same ledger.

DAEX separator example

Customers will interact with the DAEX ecosystem through a distribution wallet. This wallet supports a variety of electronic currencies, including BTC, ETH, Qtum, NEO and any ERC20 compatible token.
DAEX will generate a unique public address for all KYC verified customers on the clearing chain. The wallet will also create a three-part private key, consisting of the user (stored on the user's mobile device), the wallet (stored in the DAEX server hot clone), and the backup stored on Chains in Cold Storage). Backups are only used for recovery purposes, while user parts and wallets are required for transactions.

How does DAEX Tokens work?

The DAEX Token is used as a bonus mechanism. Contributors to the DAEX ecosystem - like the buttons involved in the clearing process - will receive rewards in the DAEX token.
There are three types of buttons eligible for DAEX token, including public nodes, exchange nodes and super nodes.
The DAEX tokens are ERC20 tags on the Ethereum block. However, when the blockchain DAEX is launched, the tokens will be purchased and canceled, at which point the company will issue a new 1: 1 DAEX token.
The DAEX tokens were distributed through a drop of air at the end of February. 20,000 alerts (listed under the DAX symbol) were allocated to the airdrop program for the first 500 users who applied through the DAEX Foundation Telegram group. Additional air programs will be announced in the coming months (check the DAEX Telegram for the latest air news).

Project Development Team

DAEX is led by 5 full-time members, including Benjamin Gu (Chairman), Hua Zhang (Co-Founder), Jason Tang (Co-Founder and Chief Architect), Yan Zhou (Architecture Scientist) wallet) and Bingliu Shen (Partner)).
DAEX  has partnered with ACX, Star.io, Allcoin, BCEX, CoinComing and Bitstamp.
The DAEX Foundation was established in Switzerland in 2018.

Conclude

Centralized and decentralized exchanges both have unique problems. DAEX aims to unify the centralized exchange with decentralized technology, creating a system where users enjoy the benefits of both.
To learn more about DAEX visit the following information:

Author by: familyforever

https://bitcointalk.org/index.php?action=profile;u=2054861

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