DAEX Blockchain : A Cryptocurrency Clearing Solution Based On Distributed Ledger Technology.

muhammadomy (31)in #cryptocurrency • 6 years ago

Hello Cryptoworld! my name is muhammad omy, and i live in Indonesia. ( Currently )

We now live in a world where cryptocurrency and blockchain technology have progressed over the past few years. Even in my country Indonesia (third world country) This has made more and more people switch from traditional fiat-based financial systems, to blockchain and cry cryprencies in particular.

https://www.daex.io/

And these days, so many ICOs are growing all over the world. According to https://www.icodata.io/stats/2018 there are 1068 numbers of ICOS in 2018 with funds of $ 6,802,417,082 raised. But with this progress, followed by so many frauds and failed ICOS. And today, I want to introduce one of the ICOs that promises that tokens already exist on several exchanges. | The ICO is DAEX |

What is DAEX?
DAEX is a clearing solution for centralized cryptocurrency trade exchanges. The clearing service is based on distributed ledger technology. Clearing and settlement rules are programmed before completing a smart contract on the DAEX clearing chain.

Automatic clearing process without interference from people. The clearing objectivity is guaranteed by the consensus mechanism on the clearing chain. Also, customers' digital assets are registered and stored in the DAEX clearing chain. No other institution or individual can access this asset without the owner's permission.

The aim of DAEX is to provide better infrastructure for the cryptocurrency trading industry by taking a reasonable share of the main securities trading industry and by taking advantage of new opportunities brought by distributed ledger technology. In particular, trading and clearing will be separated into different entities. At present a centralized exchange will continue to provide trade services.

However the clearing work will be handled to a general clearing service based on the DAEX solution. However, in contrast to current centralized clearing services, DAEX clearing services are based on distributed ledger technology. Distributed ledger technology guarantees the correct and safe trade is cleaned and completed. By using distributed ledger technology, merchant assets are stored in their own accounts on blockchain. No one else can access trader assets without their permission. This effectively eliminates the risk of merchant assets in the current centralized exchange.

| Crypto Currency Clearing Ecosystem |

How does DAEX work?

The clearing solution offered by DAEX for centralized cryptocurrency exchange is based on distributed ledger technology. Rules for both settlements and cleaning are pre-programmed in clearing clever contracts found in the clearing chain. The fully automatic cleaning process without human intervention. To better guarantee objectivity during cleaning, DAEX uses a well thought out consensus mechanism in its clearing chain. For additional transparency, digital assets stored by customers on DAEX are registered and then stored on the DAEX clearing chain. It is not possible for individuals or other institutions to access assets without permission from the asset owner.

Why is Daex?

Centralized Exchange Disability.

In decentralized exchanges, you have your assets and have complete control over them. In a centralized exchange, basically all assets are hardly IOU (I Owe You). When a user wants to withdraw funds, exchanges are instructed to send assets back to their wallets.
The problem is that exchanges are responsible for your funds, and there are many risks involved with holding digital assets there. Many people believe that their funds are safe in established exchanges, but consider too few consequences. If exchanges are hacked because they lack security, have corrupt employees or decide to ban your account, your funds are lost effectively. This kind of situation repeatedly from time to time to this day, and even well-known, high-volume exchanges like Bithumb and Coinrail recently got their funds stolen because of exchange defects.
DAEX provides a solution where trading and clearing components are separated. Exchange offers cryptocurrency trading services, but management of all clearing services is carried out by DAEX related services. The main benefit of this is that the DAEX ecosystem is based on ledger technology, and therefore can provide decentralized solutions for storing assets, and thus effectively eliminate the risk of customers losing their funds.

Clearing Cryptocurrency.

One of the main problems for cryptocurrency exchange is finding authentic tokens to be included on the platform. Because of the decentralized nature of many livelihoods, many cryptocurrency emerged as broad and original projects, when the project, in fact, offered nothing but empty promises.
DAEX will be responsible for removing the token list for partnering exchanges. This process includes project background and quality checks and integrates solutions to integrate tokens into DAEX wallets. By doing the work of cleaning and integrating wallet support, efficient exchanges can add tokens to exchanges without developing technology to support tokens on their own exchanges. This will make it easier and easier for the exchange process to add new tokens to be easier and faster.

Now, let's move to the DAEX Ecosystem. As I said above, DAEX clearing services are based on distributed ledger technology. In this case the DAEX ecosystem consists of clearing services that are based on distributed ledger technology, centralized exchange and the user's wallet. Traders use their wallets to trade on exchanges. After trading is matched on the exchange, the exchange sends trades that match the clearing service. CaaS clearing services are carried out by smart contracts on distributed ledger technology. During the initial phase of DAEX, cryptocurrency will be served. During the future DAEX phase, cryptocurrency derivatives will be serviced. That is, DAEX will provide clearing services for cryptocurrency derivatives traded on the exchange.

According to what I read on the DAEX site, the DAEX Goals is to provide better infrastructure for the cryptocurrency trading industry by taking a fair share of the main securities trading industry and by taking advantage of the new opportunities brought by distributed ledger technology. In particular, trading and clearing will be separated into different entities. At present a centralized exchange will continue to provide trade services. However the clearing work will be handled to a general clearing service based on the DAEX solution. However, in contrast to current centralized clearing services, DAEX clearing services are based on distributed ledger technology. Distributed ledger technology guarantees the correct and safe trade is cleaned and completed. By using distributed ledger technology, merchant assets are stored in their own accounts on blockchain. No one else can access trader assets without their permission.

This effectively eliminates the risk of merchant assets in the current centralized exchange. The DAEX solution will be an open source clearing service based on public blockchain. The code is open for public inspection and supervision.

The DAEX ecosystem uses DAX tokens to facilitate collaboration between different parts of the system. DAX Tokens are utility tokens that will be used in all exchanges in the DAEX ecosystem. Traders who have DAX will be able to safely record and validate transactions in a transparent environment. Whether it pays the costs associated with clearing, asset settlement or trade matching, they will not be limited to one exchange. Initially, cryptocurrency will be a digital asset that is used for clearing and settlement, and in the next stage derivatives will be included in the ecosystem.

Token Information.

The public sale price is $ 0.07 per DAX.

Only receive ETH investment for this sale, and the DAX / ETH ratio will be announced 24 hours before the sale starts based on the price above.

Your KYC application must be approved before you can invest and there is no white list.

Soft cap = 7,000ETH Hard cap = 10,000 ETH.

The value of individual contributions is between 2-100 ETH per person.

Start Date: 1PM GMT, 9 September 2018.

From Date: 1PM GMT, September 14 2018.

Roadmap: