ANALYSIS OF THE DACX CRYPTOCURRENCY EXCHANGE

in #blockchainlast year

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The DACX cryptocurrency exchange is one of the platforms where you can trade on different kinds of cryptocurrencies. Nevertheless, one outstanding feature that places it at a higher pedestal over other cryptocurrency trading platforms is the support for different kinds of assets.

It is a known fact that the primary use case of the cryptocurrency exchanges is for the trading of crypto/digital assets. Since the consistent drive for the fusion of cryptocurrencies and fiat currencies became intense, efforts have then be made to ensure the interoperability of different kinds of assets. That is the idea behind the support of both crypto assets and the fiat equivalents. It now means that fiat currencies, stocks, as well as cryptocurrencies can be traded and used for other transactions on the DACX cryptocurrency exchange.

THE DACX MOBILE APP

As the world is now moving to the mobile variation of communication, cryptocurrency trading platforms are also thinking in that direction. You can expect seamless and real-time crypto trades on DACX courtesy of the dedicated mobile applications. The mobile apps would be rolled out on the Android and the iOS mobile phone Operating Systems (OS).

Aside from the dedicated mobile applications, the platform also has plans to create clients that would bolster the transactions. Hence, the web-based, iOS and the Android clients would be released in a short while.

MULTIPLE CRYPTOCURRENCY WALLETS

The DACX cryptocurrency exchange doesn’t stop at anything to ensure the viability of the platform. It has done something that isn’t common with many cryptocurrency trading platforms. That is supporting up to four cryptocurrency wallets. Let’s look at how they function.

The cold wallets, which are the first, are kept offline. The offline basis makes it hard for cybercriminals to get hold of the assets in them. Also, only senior and authorized management personnel are allowed to sign and authorize transactions through them.

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The second is the hot wallet. It contains only a fraction of the total funds accruable to the DACX cryptocurrency exchange. Also, it is based on the internal serves, which make it challenging for third parties to get access to it. Moreover, efforts have been put in place to check against the compromise of the internal servers. One of the efforts to that end is restricting the authorization of transactions by the authorized personnel. Also, there are encrypted keys that can only be decrypted by the authorized personnel.

The hardware wallet integration is the third on the list. In this instance, the focus is on how to integrate third party hardware wallets, such as Ledger Nano X into the fold. The step would bolster the storage of crypto assets offline.

The last but not the least of the crypto/digital wallets supported by the DACX cryptocurrency exchange is the HSM-Protected Semi-Cold Wallets. That kind of cryptocurrency wallets are multisigned, governed, and enforced via a Hardware Security Machine (HSM). The effort ensures that the transactions are limited to a private network terminal and only authorized personnel can trigger them.

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CONCLUDING THOUGHTS

There might be no better time to join the crypto-sphere than now a feasible cryptocurrency exchange (DACX) debuted. You don’t have to wallow in the “crypto wilderness” for long because this cryptocurrency exchange has all you need to be successful.

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: Waltermeks
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2576323

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