Asia is becoming a huge market for new cryptocurrency exchanges, so a new exchanges is cropping up literally all of the time and an awful lot of money is being thrown at the sector to develop it as quickly as possible. DAEX have got a plan in order to implement their on these new exchanges as they’re starting out. By implementing their clearing chain onto these exchanges in order to make transactions safe and secure. It allows people to be much more confident in these new exchanges that are starting out. Because it’s just like options trading where you’ve got a clear, secure and transparent service that you’re using to clear transactions. A lot of these new exchanges will be looking for a service like DAEX because DAEX not only makes transaction much more secure and reliable but they also drive traffic to these new exchanges. A project like DAEX proves having a clearing service on an exchange means that an exchange can not be fraudulent because all transactions are quite publicly viewable on a ledger. A lot of these new exchanges do everything to bump up their Coinmarketcap rankings and a lot of them do create an awful lot of fake volume. There's something like Clearing chain technology can really stop these fake volume exchanges because everything would be viewable, so you'd be able to see that the exchange is creating fake volume. Is still three the problems of liquidity which will be something that these new smaller exchanges definitely will lack. If a newly established exchange is part of the DAEX ecosystem. Everyone is using the DAEX wallet which will be able to access that exchange without going through KYC procedure because you've already completed it to use the DAEX wallet. And there is a huge advantage to using the DAEX wallet. You can access all these different exchanges via the DAEX wallet, so you don't need to log in and out of all your different accounts because you're in a secure decentralized wallet and trading out of it. Meaning that it'll be a lot easier for new exchanges to generate custom through new customers via the DAEX ecosystem.
Now if you ever wanted to learn about Blockchain technology. I would suggest that this technical paper is an excellent place to start because they clearly explain the way that their ecosystem is going to work. However I would like to explain the “clearing chain”. Any individual or organization that owns a DAEX wallet can access the clearing chain to make payments and manage transactions. In addition, customers can also complete clearing operations by using smart contracts. Smart contracts are designed to adapt to different scenarios so that it will meet the different activities of the digital asset market. Miners also play a very important role in the clearing chain. They are responsible for checking, monitoring and verifying the transaction is valid. The more Miners, the higher the security of the system.
The DAEX is focusing on blockchain 3.0 technology. It wants to be an influential investing figure in Blockchain. The fund plans to focus on investments related to decentralized exchanges, wallets, cross chain solutions and asset management while paving the way for greater industry compliance which is a really big factor for me. I currently that wants to be compliant with a law that doesn't exist yet. It's one that you should really take very seriously because they're preparing themselves for the future which an awful lot of projects haven't quite thought about yet. Cryptocurrency needs these companies to step in and bring us forward a good few years. If cryptocurrency can regulate itself in a decentralized manner, proving their tokenized society is more than possible. Then next is a massive step in the right direction and some make question how is the DAEX business model sustainable? They're just throwing money at new exchanges. You will be charged to clearing fee for clearing the transaction safely and securely by using DAX token. However, these are only very small amounts and negligible.
DAX token is a utility token. It will be used across the DAEX ecosystem. Traders who use the DAX token will be able to complete transactions and verify them by using the clearing chain in a very transparent clear environment. The DAX wallet will be connected to several different exchanges an expanding amount of exchange and you can use the DAX token to trade across all of these exchanges as a trading pair. The DAX token uses its own proof of stake mechanism. There's different from any other proof of stake. What you do is you purchase a set amount of coins you place them into a wallet or a holding area and then those tokens act as a node to support the network which basically process transactions on the network. This meaning that you are helping to secure the network. And for that, you are rewarded. It's basically kind of like mining but not mining. Staking any kind of token is a great way to earn passive income depending on how much you're invested. DAEX uses its own staking system called ASPoS which stands for accumulative signatures for proof stake. ASPoS stake system uses a combination of deposit amount, node activity and the clearing value factor. A validator nodes clearing factor value is based on its past clearing performance and trustworthiness. A nodes CBF affects the final rewards that it receives. CBF is the more staking rewards that you will receive, so it's important that you can ruin a healthy node on their network, rather similar to a proof of credit.
The above is what I found in this very interesting project. For more information about the project, you can visit their website, read the technical documentation or join the DAEX community under the links below. Also, if you have any opinions about the project, please leave below the comment section. Thank for reading!
Links:
Website: https://www.daex.io
Whitepaper: https://www.daex.io/pdf/DAEX(EN)-NonTechnicalWhitepaper-V0.9.8c.pdf
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=2910479
Telegram: https://t.me/DAEXOfficial_en
Medium: https://medium.com/daex
Reddit: https://www.reddit.com/r/DAEX_Blockchain
Twitter: https://twitter.com/DaexBlockchain
Kakao talk: https://open.kakao.com/o/gWJcHBQ
Author:
Bitcointalk username: kld_hp
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1014734