DAEX: USING DISTRIBUTED LEDGER TECHNOLOGY TO ACHIEVE CLEARING SERVICE

flezy (40)in #ico • 6 years ago (edited)

The present cryptocurrency centralized exchanges have strong points in offering liquidity, high transaction speed and dynamism in cryptocurrency payment, they have challenges in their architecture. For instance, each exchange platform keeps the assets of its customers.
As such, the customers are open to grave internal and external risks. Besides, operating such exchanges is prone to cloudiness. There is no means of ensuring objectivity and fairness in the matching system.
Security challenges keep surfacing as a result of the problematic infrastructure of the centralized platforms. There is therefore the need for an urgent solution and that what the DAEX ecosystem is out for.

DAEX PLATFORM

DAEX is a clearing option for centralized cryptocurrency transaction platforms. It uses the shared ledger technology in achieving its clearing service. Clearing and settlement laws are incorporated into the smart contracts for clearance on the DAEX clearing system. The clearing procedure is automatic and needs no human intervention.
Through the use of consensus system on the clearing chain, the clearing service is made very objective. Again, the customers' digital assets are registered a d saved on the DAEX custom clearing chain. Outside the owner’s permission, the assets can not be accessed.
DAEX is therefore well-positioned to effectively tackle the ineptitudes and risks plaguing the contemporary cryptocurrency industry and sets a firm foundation for the healthy growth and development of the industry.

VALUE OFFERED BY DAEX PLATFORM

Of a fact, the cryptocurrency industry is yet in its inchoate stage and it has so many challenges. This notwithstanding, the prospects of development is quite bright and it is so humongous that it surpasses that of the internet industry.
DAEX ecosystem is set to assist the cryptocurrency industry achieve a more efficient growth and ensure way by offering a firm infrastructure that most participants can benefit from

DAEX CaaS

The present cryptocurrency platforms usually clear all of their trades. Such mode of infrastructure is certainly risky. This us because the digital assets of customers are prone to internal and external risks. Again, the trader’s money cannot be completely used as he has to satisfy the financial demands of the different platform.
Similarly, as individual exchanges need to undertake their clearance service, the entire industry is not using the available resources very efficiently. DAEX is set to offer CaaS to aid the cryptocurrency trading industry. As this CaaS is based on shared ledger technology, its working is therefore objective and open. It does not favor any particular organization or group of individuals. It is efficiently an infrastructure service to the entire industry.
Through the use of this service, the cryptocurrency industry is not biased, objective and open, industry resources get more used very often. The industry is therefore developing on a more firm basis.

DAEX CLEARING Systems

DAEX clearing chain is the crux of the DAEX clearing network. It is a free cryptocurrency clearing option that uses the shared ledger technology. It offers clearing and settlement services for private persons and corporate users. The chain is used on !multiple nodes on a public cloud. It makes use of just a type of POS consensus system to confirm transactions.

DAEX TOKENS

The DAX token is Ethereum-based and it is ERC20 standard compliant. The tokens are used to reward participants that contributed to the development of the DAEX platform in Amy form and it is used for every transaction on the platform.
DAX token is shared among the public, the advisers and founders and exchange partners.

CONCLUSION

One of the most challenges that the cryptocurrency industry is witnessing is that of difficulties in doing transactions due to speed and safety issues. DAEX platform ensures that the users assets is safe and offers a high transaction per second speed that most traders crave.