How far have you gone in trading with Ethereum stored in your digital wallet? I know you might have traded multiple times and reaped its benefits. But what is the ratio of your profit to your gain? It sometimes seems a daunting task trading on cryptographic currencies. There are many downsides that might dissuade one from continuing with the currency.
At the moment, there are multiple cryptographic currencies and altcoins littering the crypto sphere. With an estimated $280 billion USD market value, these currencies are expected to have surpassed these hurdles.
Decentralized exchanges (DEX) had been touted as a better variant to its centralized counterparts (CEX). The former came on when the latter was under siege. However, DEX did little to improve on these downsides. The block chain technology that plays host to DEX is often prone to Sybil attacks during mining. On the other hand, there seems to be centralization in the platform because there are limited blocks to facilitate transactions. This then leads to congestion thereby leading to slow transaction throughput.
Save for traders who part with extra fees to propel the smart contract and the coming of Directed Acyclic Graph that creates more blocks, there is possibility that the block chain wouldn’t have be better than other exchanges. Taking into account existing problems in DEC and CEX exchanges, DAEX was developed on the block chain to solve these issues.
Unification of Exchanges
DAEX is that solution investors and traders on the crypto sphere had been waiting for. Though CEX and DEX have their downsides, there are still great sides to them. DAEX will be the factor that will unite these upsides. The platform collates these and integrates them for better throughput.
DAEX – Clearing House on the Block Chain
DAEX will be the one-stop platform providing needed service for the crypto system. There was need for maximum protection of the ever-growing crypto sphere against attacks. There was also need to find a consensus platform to hedge all crypto-related problems. DAEX is the solution to all these. Because users’ profiles and transactions are prone to external scrutiny, a clearing house that makes sure all transactions are valid was needed. DAEX through its Clearing as a Service (CaaS) module rectifies assets on its block chain before they can be exchanged.
DAEX’s ecosystem is pivotal to transactions. The ecosystem breeds trust and is fully secured by multiple private keys. The platform is also open to accept new exchanges and available exchanges are availed use of services offered by the platform.
DAEX is not offering these prospects b default. All activities are fast-tracked and implemented through its ecosystem. The ecosystem comprises the trio of wallets, clearing block chain and CEX. Trades/transactions that have been matched on the exchange platform are pushed to the clearing block chain for verification. The distributed ledger and smart contract technologies feature in DAEX’s Clearing as a Service (CaaS).
One Wallet, Many Currencies
As the number of cryptographic currencies increase, its counterparts are being released as altcoins in form of tokens issued during Initial Coin Offerings. Most of the altcoins have no block chain of their own; they rather rely on popular block chains such as Ethereum and Bitcoin. However, multiple digital wallets are in place to hold each of these altcoins and crypto currencies. Hence, if you have Ethereum, Bitcoin and Stellar coins, you need to have three wallets for that.
DAEX solves this problem by unifying all coins under the same wallet. This lets you trade easily and monitor the market. The wallet also allows you get verification from DAEX’s CaaS service before your transaction can be completed.
Token Sales Information
Token Symbol: DAX
Token Standard: ERC20
Total Supply: 2 billion
Soft Cap: 7, 000 ETH
Hard Cap: 10, 000 ETH
Exchange Rate: 1 DAX= $0.07 USD
Accepted Currencies: QTUM, BTC, NEO, ETH
Restricted: China, USA