DAEX

Cryptocurrencies has grown in leaps and bounds over the last few years with many people getting involved in either holding or trading these virtual currencies. The aspect of cryptocurrency trading is carried out on cryptocurrency exchanges which provide the platform for allowing traders to buy and sell their crypto assets. Although the current cryptocurrency centralized exchanges offers many advantages in terms of liquidity, matching speed and flexibility, they have challenges in their architecture. For instance, each exchange platform keeps the funds of its traders.

Because of this, these traders are open to serious internal and external risks. Besides, operations and activities of these exchanges are not clear to all. This makes it easy for these exchanges to do whatever they will like doing with customers funds. 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 is why the DAEX clearing service was birthed.

DAEX PLATFORM

DAEX is a clearing option for centralized cryptocurrency exchanges. It makes use of the distributed ledger technology in achieving its clearing service. Both the clearing and settlement instructions are programmed into the smart contracts for clearance on the DAEX clearing system. The clearing procedure is automatic and needs no human intervention.

With the help of the consensus system on the clearing chain, the clearing service has a clear objective. Furthermore, the customers’ digital assets are registered and saved on the DAEX custom clearing chain. Traders’ assets cannot be accessed without the authorization of the owner. 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.

DAEX is a clearing option for centralized cryptocurrency transaction

VALUE PROPOSITIONS BY DAEX PLATFORM

It is a well-known fact that cryptocurrency is still in its early stages and is being faced with many challenges. Despite this, the road to the full development of this platform looks so bright and encouraging. Although, the challenges seem much but the solutions that are being proposed everyday gives hope that cryptocurrency will so gain massive adoption throughout the world with because of many workable solutions that it provides to our everyday problems.
This is one of the reasons why the DAEX ecosystem was developed to assist the cryptocurrency industry achieve more sustainable growth by proposing an efficient infrastructure that that benefits both traders and cryptocurrency exchanges.

DAEX CaaS

What obtains currently is that we have different cryptocurrency platforms that perform dual functions of trading and clearing all of their trades. This mode of operation is certainly risky for both the traders and the exchanges themselves. This is due to the fact that the funds on these exchanges could be high jacked by hackers leading to loss of funds. Another issue is the fact that these centralized exchanges charges ridiculous amount in trading fees which rip off traders of their hard earned profits.

Similarly, if individual exchanges have to perform their clearance services separately, it therefore suggests that the entire industry is not maximizing the available resources very efficiently. DAEX has been able to develop a revolutionary clearing system called “CaaS” which seek to help the cryptocurrency trading industry achieve efficiency in its operations.

CaaS is built on a distributed ledger technology which means that its operation is therefore objective and open. It doesn’t act in favour of any particular organization or group of individuals. It is efficiently designed infrastructure proposed to service the entire industry. The activities of CaaS ensure that the cryptocurrency industry is not biased, objective and open, the resources of the entire industry is better utilized.

DAEX CLEARING Systems

DAEX clearing chain is the nucleus of the DAEX clearing network. This ultra-powerful clearing chain offers free cryptocurrency clearing option that leverages the power of distributed ledger technology. It provides clearing and settlement services for individuals and corporate users. The DAEX clearing chain uses multiple nodes on a public cloud. This magnificent architecture makes use of POS consensus algorithm for speedy confirmation of transactions.

DAEX TOKENS

The DAX token is a standard ERC-20 token that is used in performing transactions on the DAEX network. The DAX tokens are also used to reward community members that contribute to the development of the DAEX platform. DAX token is shared among the public, the advisers and founders and exchange partners.

CONCLUSION

The critical issue facing the cryptocurrency trading industry is security of funds. There has been several cases of funds being carted away by hackers on some centralized exchanges due to their mode of operations. DAEX platform was built to bring an end to this age long issue in order to offer a secure means carrying out transactions which has no internal or external risks associated with it. The DAEX platform ensures the overall efficiency of the industry by separating trading activities from clearing activities and provides a clearing system called CaaS which is built on distributed ledger technology which ensures safety of traders assets while also providing high transaction per second speed.

For more information DAEX, please visit the following useful links

Website: https://www.daex.io
Whitepaper: https://www.daex.io/daexPaper.do
Twitter: https://twitter.com/DaexBlockchain
Telegram: https://t.me/DAEXOfficial_en
Medium: https://medium.com/daex
Reddit: https://www.reddit.com/r/DAEX_Blockchain/
YouTube: https://www.youtube.com/channel/UCqgUNUY8fM6-XIbweKrYL0w

Author :phatpharm20 

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