Overview
The digital currency is struggling to retain its user confident. By so doing, the market is now left with numerous problems and there is surge in the amount of cryptocurrencies value. Merchant and currency exchangers are compelled to having the by-products of Bitcoin if at all they are willing to remain in business. This happens because the Bitcoin has more than 50% estimate of the total market share of crypto. However, there are two kinds of crypto trading exchanges; which mostly is the central based exchanges for low productivity over the distributed exchanges etc.
Despite numerous uses of asset control and privacy, each type of crypto sharing has their own merit and demerit. But it should also be noted that distributed exchanges have its own demerit, especially as regards liquidity teams, flexibility and matching speed. Due to these demerits, distributed exchanges lacks usability with less used crypto currency transaction. DAEX project is here to proffer solution to these demerits.
WHAT IS DAEX?
“Digital Assets Exchanges” known as DAEX is a distributed cryptocurrency clearing platform. It came to offer the needed solution for centrally based crypto currency exchanges on smart contracts basis and distributed ledger technology.
It make use of decentralized means in developing a reliability and efficient platform between exchange markets and merchants. There is presence of clearing service which solely depends on distributed ledger, user wallets and centrally based exchange. Most merchant make use of their wallets in performing exchanges of transaction. Afterwards the transaction will be matched at exchanges, then synchronization will occur; meaning that, exchanges will able to transfer matched transaction to clearing service. Then, clearing service known as CaaS will be performed by brilliant smart contracts on technology basis of distributed ledger. At first stage, crypto will be serviced. Then at later stage, provision will be made for crypto money derivative clearing service which will be traded on exchanges means.
DAEX Ecosystem
The ecosystem will offer needed infrastructure for the use of crypto currency trading industry which will combines benefits of distributed exchanges and centralized: High-security level, relatively trustless environment and strong liquidity transparency. DAEX will help give proper insight about differentiating the merchant services and clearing into various entities. Presently, central means of exchanges will keep on providing trading services, however, the settlement and clearing services will depends on its solution. This kind of solution will be on an open source of public blockchain which help guarantees trader’s assets for proper record in the account. Users will benefits from the provision made by the centralized exchanges with no fear of exposure to the risks that arises with use of centrally based model.
The DAEX decentralized platform will offer the following:
High security measures will be available
Risk-free trading between distributed exchanges and exchanges
Transparency level
Speed, flexibility and liquidity is assured
Features of the DAEX project
Security: By the provision of CaaS for the crypto trading industry, this will help reduces external and internal risks which the digital assets customers faces, thereby creating the unbiased and transparency trading platform within the merchant and exchangers. It will provide the security for trading framework, whereby each asset will be publicly held on blockchain and will not be transfer without the permission of the owner.
Transparency: The operation of assets will be transparent on the DAEX blockchain. Thereby providing enough certainty by reducing the lack of trust between the exchanges and users. The sharp growth of ICO has made enough crypto value in entering the market place daily. High percentages of these ICO’s are of low quality coins that can never see the light of the day.
The Wallet: DAEX wallet will make easy duty of users and exchanges to start trading a new cryptocurrency. The exchanges will greatly fasten the product listing duty and made it becomes more and more competitive in the industry. Being a clearing service, DAEX has the means of enlisting new clearing products such that will participates trading exchange.
Exchanges: The ecosystem will allow the exchanges of new competitive advantage in the following three ways. Firstly, token incentives mechanism will allow the clearing that attract new user, it will help garnered more trading quantity. Secondly, DAEX multiple-asset will be cost effective in terms of delivery cost. Thirdly, it will separate trading clearing that helps exchangers in focusing on more important competencies; thereby maintaining their competitiveness. Therefore, we can say the separation of clearing and trading will allows exchanges in focusing on their duties.
The Benefits of DAEX
Provision of security: This serves as a benefit because assets will not be allowed to be moved without the permission of user’s. The presence of multiple-private key will further help consolidate protection of user’s assets with the safe mechanism recovery in any case whereby user loses their private key. Blockchain and smart contract will help guarantees the clearing and settlement.
Open platform: The project will serve as an Open Source whereby it allows everyone to thrive. Participatory exchanges will make use of all services and product which will be available, it include both clearing and wallet. The exchanges will able to utilize real value added services which it provides, like cryptocurrency derivatives trading system.
Trust: This will help ensure transparency and safe environment for merchant and exchangers to thrive.
DAEX Token
DAEX tokens will serve as internal currency for DAEX such that there will be distribution in exchange for public and private donations. At the initial selling period, DAEX token will be an ERC20 compatible token. As at when its solution is in production, the original ERC20 tokens will be bought again and destroyed. The tokens will goes with 1 to 1 ratio.
Conclusion
DAEX will use decentralized system to develop a reliable and efficient platform between exchange markets and merchants. There is a presence of clearing service which solely depends on distributed ledger, user wallets and centrally based exchange. Most merchants make use of their wallets in performing exchanges of transaction. This will provide security trading framework that makes user assets all held on public blockchain and will not transfer without the permission of such users. The exchanger has their own clearing duty to accomplish; without that, trading industry as a whole will unable to make good use of its resources. Such that, with use of clearing service, most industry resource will be are useful more efficiently.
For more information on daex platform please visit
For more information on DAEX project and token sale please visit
Official website: https://www.daex.io
Whitepaper: https://daex.io/whitepaper.html
Telegram: https://t.me/DAEXOfficial_en
Reddit: https://www.reddit.com/r/DAEX_Blockchain/
Authors bounty0x username: Justice3030
Promising project. I will look into the white paper for further information.
Thanks for sharing sir, a particular feature caught my attention, that is the multi assets wallet that gives a user access to all all exchanges within the daex platform. This is awesome, sir is there a similar blockchain project?
DAEX is a magnificent decentralized platform which aims to develop a reliable and efficient platform integration in order to have seamless transactions between exchange markets and merchants.
This is exactly what the cryptospace needs. A fight against hacking and top notch security.
The features that this project wields is simply fascinating, trading experience will simply become more fascinating like never before.
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Nice. Another new exchange. Daex should come with good trading incentive for traders which will bring more competition for other crypto exchanges