The Main Features of DxChain:
DxChain is a unique decentralized network in the world that based on the blockchain technology. Namely, it focuses on processing massive amounts of data and machine learning technology. In other words, DxChain has been working on developing a platform to solve different issues related to big data computation using a decentralized method and network.
As we all know, today information became more valuable resource than oil and gold, therefore, it is very important to control and protect your personal data. The blockchain technology is going to help developers to find new ways to develop this profitable sector.
DxChain network provides two main features such as Data computation and Storage services.
Today only big companies can afford to launch projects that are able to store and manage large amounts of data, as to achieve this, requires expensive equipment and access to customer and consumer data. For example, Google has navigation data of those who use its services, however, the users of Google Maps don’t have control over the data and cannot use it. With DxChain platform, the users would be able to exchange and transmit data securely to other users.
Technology
We were inspired by Hadoop big-data platform developed and managed by the Apache Software Foundation where one of DxChain’s team members worked before.
DxChain platform provides chains-on-chain architecture that consists of a master chain and two side chains that are responsible for storing various data.
Master Chain records and stores data about assets and events such as transactions, agreements, etc. Besides, the master chain uses a proof of work (PoW) to provide the highest level of security and stability.
Data Side Chain (DSC) stores inactive information or metadata, which is a dataset that provides information about other data and serves as a data extraction method.
Computation Side Chain (CSC) stores certain computing tasks that are performed on DxChain platform as well as records computing processes, which deals with the large volumes of data. In addition, it can determine if the task is run or not.
DX Tokens
The DX tokens are cryptocurrency of the platform that will serve as a primary payment method between the users in the network as well as will be rewarded to providers of computation and storage resources, which are required to run various applications and transactions.
Initially, they will be issued as ERC20 tokens and will be transferred to Mainnet after it is launched. The DX tokens market cap will go up in value as more users join and use the platform. This could be driven by many factors such as data storage capacity, processing speed, and so on.
Proofs of Space-time
This consensus algorithm allows a prover to convince a verifier that the user has spent a “space-time” resource. This will be defined as the principle that the user stores data or uses computation power over a certain period of time.
The developers define the PoST resource as a linear tradeoff between CPU work and space-time. Compared to the PoST, the new algorithm requires less energy use, as the difficulty can be increased by extending the time period over which data is stored without increasing computation costs.
Conclusion
Overall, the project has an average market awareness, but with a strong and great team, a good idea and the token metrics. With the backing of many investors, the project will be able to get listed on the top 20 exchanges.
For Long-term Investing
This project is extremely ambitious and focuses on both data computation and storage services, including the migration of Hadoop to the decentralized environment.
The project also intends to provide the world’s largest storage space.
If this project achieves its goal, the potential could be huge, and many applications would benefit from DxChain platform.
Official website: https://www.dxchain.com/
My referral link: https://t.me/DxChainBot?start=v6teyc-v6teyc