The DAEX project is a clearing solution for the exchange of cryptocurrencies

The last couple of years, or rather since the beginning of 2017, the cryptocurrency market began to grow at a rapid pace and the total capitalization reached more than 800 billion US dollars. In connection with such events, the cryptocurrency industry has a need for reliable and effective trade exchanges.

At this point in time, participants in this sphere are offered two types of exchange: centralized and distributed. In short, centralized exchange provides a mechanism focused on coordinating orders for traders, where the outside party processes the exchange and retains all the trading costs. Of course, this exchange has its advantages, such as the processing time of the request and the large trading liquidity, but they are vulnerable to hacking. What can be said about the distributed exchange, then there are no superfluous intermediaries and links due to the application of the smart contract.

In this situation, storage is carried out directly on the trader's personal account. To the positive advantages it is possible to include high protection, but some have drawbacks this time of translation processing and liquidity. Disadvantages do exist, and this issue is urgent, which requires a solution.

DAEX (Digital Assets Exchanges) is a distributed ecosystem that offers its clients a clearing solution for the exchange of cryptocurrencies. DAEX - introduces the model for trading cryptocurrency, using reasonable parts of the main trading industry of securities. The main requirements of this solution are recorded in smart contracts on DAEX clearing. At the same time, digital assets of users are recorded and stored on DAEX. To data and assets, only the owner has access. The ecosystem is managed by the DAEX Foundation, and during its existence is in cooperation with such institutions as the Qtum Foundation, Jenga Blockchain Capital, Sora Venture s, 8 Decimal Capital, 360. In future, cooperation with exchanges of Lbank.info, Bitfinex, Bitstamp, Huobi and Bittrex.

What is the solution of the DAEX project?
To solve the actual problems that were described above, the DAEX project creates an infrastructure for crypto-trade, combining all the advantages of centralized and distributed exchange. Thanks to this decision, we get increased security, greater liquidity, speed of query processing and transparency of all transactions and processes. At this point in time, the project offers separate companies for centralized exchange and clearing services, while settlement operations will be based on the DAEX solution. Hence it can be said that the project has created an ecosystem in which all the advantages of centralized exchange can be used without fear for safety.

The DAEX system is based on the basic principles of cooperation such as:

1. Security: DAEX provides a trading infrastructure with a high level of security, where storage of assets and access to them is impossible without the owner's permission.
2. Efficiency: through the use of the clearing service, resources in the trade industry are used more efficiently.
3. Trust relationship: all processes and operations have full transparency, through the use of a smart contract. This provides trustworthy cooperation between users, customers and exchanges.
4. Savings: The DAEX project reduces operational costs, which will indeed be acceptable.

Briefly about the principle of the DAEX project:

1. DAEX in this process is a kind of connecting link between the user and the exchange. The basis of the ecosystem is a clearing chain that monitors and verifies all processes and operations from the initial to the final point of the smart contract that meet certain requirements.
2. Anyone can become a user by going through a certain registration, thereby obtaining a personal account. In this account you will be able to register new digital assets, monitor the number of assets and view all the performed operations Account
3. DAEX wallet supports various types of crypto currency and markers compatible with ERC20. After passing KYC, the user receives a unique key in the clearing chain. The owner of the account receives a private key consisting of three parts, which will fully protect the assets in the wallet.
4. The purse holder is assigned equal accounting power, after which she receives a certain number of points on the basis of clearing value. Nodes with a certain number of accounting points can be defined as validators. The function of validators is to create blocks and maintain accounting records and consensus by translating encrypted signatures.

The main means of payment for the project will be the DAEX marker, which will pay for clearing and settlement fees in the project. Users who will actively promote the project in the form of an invitation will be rewarded with a DAEX marker.

Conclusion
Having studied the DAEX project, we can say that the development team laid a competent and effective idea for the development of the ecosystem. Indeed, the project solves the actual problems that exist in this service sector, while they combine all the positive qualities of centralized and distributed exchange.

Website: https://www.daex.io/

Telegram: https://t.me/DAEXOfficial_en

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