PRESENTING THE USE CASES OF DAEX BLOCKCHAIN

elvisdika1 (34)in #blockchain • 6 years ago (edited)

INTRODUCTION:
According to the information from the DAEX project vision, part of the mission of DAEX is to make available an infrastructure for the normal centralized trading system. It will also keep and utilize their major transaction functions. DAEX also seeks to bypass the disadvantage of the decentralized exchange system. With this quality, DAEX hopes to present a pretty secure, transparent, fair and reliable platform. This platform will also enjoy high liquidity of digital assets
Part of the aims of DAEX is to give users the ability to trade and make the exchange without the fear of being exposed to hackers and thieves. This is one issue that was common with the centralized trading platform – exposure to hacking, operation risks etc. The trading platform is usually targeted due to some properties they possess like the full spectrum of business, taking care of asset auditing, and matchmaking of transactions, storing data, clearing, and settlement.

Also, almost all decentralized trading platform can make use of the smart contract alongside the distributed ledger technology. They will use this to avoid asset custody and data storage. The implication of this is that data will be available and made public on the blockchain. No one will have the opportunity of monopolizing data. This will help achieve transparency and a high security. The decentralized platform, however, is less efficient with a low level of liquidity when compared to the other.

Users will enjoy the pros of both the decentralized and centralized cryptocurrency exchange platform on the DAEX ecosystem. This will happen by clearing and the settlement process from the trading platform presented by DAEX. Hence, there will be liquidation and settlements as compensation for third-party services.
There will be three unique parts to the DAEX platform. This is the centralized trading platform, the DAEX foundation, and the wallet trading platform. The DAEX foundation is the bridge that links the remaining two parts. The foundation will provide DAEX with a special wallet and chain solution.
Part of what DAEX brings forth is giving users the ability to forward transaction request through its wallet. This will be to the trading platform inside the DAEX system. On getting a matched transaction, it will be forwarded immediately to the clearing chain, which will be completed by the smart clearing contracts. With this solution presented, users will enjoy lower risk levels while using the trading platform. With this, users will have their digital assets safe in their personal wallet.

The DAEX Blockchain Value
Users will enjoy four different value forms provided via the DAEX blockchain

Security: There is no fear of assets being compromised on the blockchain as the DAEX provides a secured trading platform.
Resource Allocation: Resources will be put to effective use with the various individual clearing service.
Trust: All operation on the DAEX blockchain will be transparent. Thus, there will be no trust issues on the platform.
Exchanges: the DAEX platform will distinguish clearing and trading. This will help exchanges to keep their target in the core competencies. Asides, the involved exchanges will be able to trade due to the fact that DAEX selects and list new cryptocurrencies.

The DAEX Token (DAX)
The token on the exchange platform will take care of all forms of community and private donations. The DAEX token is an ERC20 compliant token. There will be no public sale and the token will help take care of settlement fees on the platform. The token will play a key role in driving the ecosystem.