DAEX is a distributed clearing platform with open source code that uses cryptocurrencies in its operation. The purpose of the platform is to provide clearing solutions for centralized exchanges.
This project is an idea of the DAEX Foundation. The aforementioned organization already has experience of cooperation with several projects, one way or another linked with the use of digital currencies.
The team of DAEX developers is striving to create a hybrid exchange of digital currencies, which will combine the advantages of centralized and decentralized exchanges. The DAEX Foundation is one of several organizations seeking to launch an exchange with similar functionality.
Which issues can address DAEX?
So, why do crypto enthusiasts have solutions that the DAEX platform offers? This platform seeks to solve a number of serious issues with the modern cryptocurrency industry.
There are two main types of exchanges, including centralized and decentralized ones. Centralized exchange provides a centralized mechanism to monitor orders for traders. Their work is largely based on the monetary assets of traders, and those, in turn, can make transactions using such platforms. These exchanges operate fairly quickly and have high liquidity, but traders do not have the complete control over their funds.
Decentralized exchanges work a little differently: they do not allow intermediaries to participate in transactions, giving traders at the same time to make p2p deals. Traders have full control over their assets, which allows them to maintain complete security of their funds. However, decentralized exchanges often experience liquidity problems.
The working principle of the DAEX ecosystem
DAEX provides a hybrid infrastructure for the cryptocurrency exchange. The main goal of the platform is to combine the advantages of centralized and decentralized exchanges in one ecosystem. The end result is the launch of a platform with a high level of security, rapid processing of transactions, as well as high liquidity.
The end result is that members of the DAEX ecosystem will be able to take advantage of the centralized exchange - the principles of simple and fast trading - along with the security of decentralized exchanges, including full access to digital assets.
DAEX is ready to perform this using some fundamental technologies including Clearing Chain, Clearing Account and DAEX Wallet.
Decentralized wallet
Users will interact with the DAEX ecosystem using a distributed electronic wallet. The wallet supports several types of cryptocurrencies, including BTC, ETH, Qtum, NEO and other tokens, compatible with the ERC 20 standard.
The DAEX wallet will create a unique address for all users who have passed the KYC verification procedure. The wallet will also generate a secret key and separate it in three parts, including the user part(stored on the user's mobile device), wallet part (stored on the DAEX servers), and the spare key part (stored in the Clearing Chain).
DAEX tokens are used as a tool to reward users. Those investors who contribute to the development of the DAEX platform, as well as those involved in the clearing process, will be able to receive a reward in a certain amount of DAEX tokens.
For more detailed information about the project and the terms of participation, I recommend to visit the links below:
☑️Link to the project: https://www.daex.io/?utm_source=icodrops
☑️WhitePaper: https://www.daex.io/daexPaper.do
☑️Telegram: https://t.me/DAEXOfficial_en
☑️Twitter: https://twitter.com/DaexBlockchain
☑️ANN: https://bitcointalk.org/index.php?topic=2910479.0
Author:https://bitcointalk.org/index.php?action=profile;u=1047035