INTRODUCTION
Generally, Exchanges (especially crypto-exchanges have been facing various challenges since their inception. From the time people began getting involved in Exchanges trading till now, many challenges have rocked the market, and many solutions have also been idealized and implemented in order to deal with these challenges. Nonetheless, challenges keep surfacing even as advancements take place in the system.
In order to address certain exchange issues, another solution known as DACX has been introduced.
DACX: WHAT IT IS!
DACX is an acronym for Digital-Assets & Commodity-Exchange. It is a block-chain-technology-based set-up that is based in London, England and is built on LEVEL-39, a popular Tech Accelerator. DACX was idealized in the 3rd quarter of the year 2018. The project is aiamed at providing a cutting-edge digital-asset exchange which will use machine learning and geographical distributed ledger technology to facilitate safety and comianxe in the exchange marketplace.
The first working product of DACX was introduced in 2019, January and since then, they have achieved a lot. External funding as decided by the team, was not to be soon for the project at the early stage.
Since it's commencement, DACX project have been working with creativity, improved strategy and proper consideration of the aspect of customers. Customers are one of their main focus. Many affiliations and business relationships have been formed with resulted top-seed organizations.
CHALLENGES THAT DACX IS DEALING WITH
DACX, just like every other solution that has been idealized and formulated in the Exchanges Market is aimed at solving specific problems such as hacking, poor architecture, funding issues, abuse of marketplace, lack of liquidity, and so on. Some of the challenges are:
POOR STRUCTURES/ARCHITECTURE
It has been discovered that in difficult conditions of the market, high volume of trades are poorly executed. This leads to overloading of systems. When an exchange's matching-engine is to process an amount of orders that is greater than its capacity, what happens is overloading, so that new orders won't be received until the current ones are addressed. This affects users' experience, benefits on the exchange platform.FUNDING ISSUES
Customers' funds are meant to be properly managed, but some exchanges that aren't regulated and operated on Fiat (one-off) ramps do not ensure proper funds management. This makes customers' funds be at risk and results in failures in financial relationships.
ABSENSE OF OR LOW TRANSPARENCY/ACCOUNTABILITY
Some deceptive, non-tranparent exchanges purposefully refuse to disclose their top management or beneficiaries details. This is lack of accountability. Absense of accountability or transparency is risky and portends great loss.ABUSE OF EXCHANGE MARKET
Deceptive, rascal market players usually get involved in practices that aren't fair just to get profits. This practice is prevalent over the years and has led to a lot of scandals, crises and crashes.HACKING/THEFT
Since the Genesis of crypto-trading, as we all know, the market has, from time to time been experiencing series of hackers' attacks that has led to lack of trust and financial losses. This has had a great impact on the acceptance and adoption of crypto.
CONCLUSION
The above are some of the problems being faced in the exchange market. DACX is addressing them via its structures and utilities. DACX Remit, DACZ Token, Foundry, Mobile app, simple revenue plan, great customer support system, sound marketing strategy, provision of security, risk management, universal wallets, and so on, are what DACX is going to use to overcome these current challenges of the Exchange market.
USEFUL LINKS
Website: https://dacx.io/
Whitepaper: https://dacx.io/wp-content/uploads/2019/09/DACX_WhitePaper.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=5154783.0
Telegram: https://t.me/OfficialDacx
Twitter: https://twitter.com/dacx_io
Facebook: https://www.facebook.com/dacx.io
Medium: https://medium.com/@dacxinc
AUTHOR'S DETAILS
Bitcointalk Username: Adaora2323
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2011741;sa=summary