What is DAEX?
One of the biggest issues with centralized exchanges is mobility. For instance, transactions can take a few days when using these platforms. Not to mention the middlemen, who tend to charge high fees for their services.
DAEX creates a hybrid exchange infrastructure. The goal of the project is to combine the benefits of both decentralized and centralized exchanges. As a result, it leads to more increased security, trustless environments, strong liquidity, and faster transaction times.
The main innovation with DAEX is that it separates the trading and clearing services into two separate entities. This means that centralized can still use DAEX’s protocol and continue with trading services.
However, all settlement and clearing services are based on DAEX’s platform. It’s an open source blockchain that makes sure the trader’s assets are kept in their account. This allows DAEX users to receive the benefits of a centralized exchange – the fast and easy trading. Plus, they receive the security that a decentralized exchange brings.
Another problem that DAEX solves is finding authentic tokens on exchanges. Due to the decentralized nature of cryptocurrencies, a lot of cryptocurrencies appear to be completed projects. When in reality, these projects act as nothing but empty promises.
With DAEX, it will decide which tokens will be listed in its partnered exchanges. This process will include quality and background checks and integrating solutions for placing the token into the DAEX wallet.
- Clearing Account: Every DAEX user will have a clearing account that allows them to store their assets in a safe location. Since its encrypted, it protects their information from hacks and identity breaches.
- Storing Digital Assets: All assets that are in DAEX’s platform will be stored on its clearing chain. The assets can’t be accessed by other participants without the owner’s permission.
- Settlement and Clearing: DAEX’s clearing solution uses distributed ledger technology. It’s a consensus where the data is spread across multiple channels, with no central authority or storage of data.
Bounty0x username: thetechinsiderorg
- Trust: All of the operations and transactions are transparent on DAEX’s blockchain. This transparency decreases distrust between the exchanges and users and provides more certainty.
- Decentralized Exchanges: By separating the clearing and the trading, users can focus on more important competencies. And, DAEX helps with reducing operational costs via listing new cryptocurrencies so additional exchanges can trade.
- Resource Allocation: Since every exchange has to do their own clearing work, the trading industry isn’t fully using their resources. By using DAEX’s clearing service, the industry resources are used more efficiently.
- Market Saturation: There is a multitude of crypto exchanges that already follow the hybrid (centralized and decentralized) formula. DAEX will have to create an innovative addition to its pitch if they want a larger market share.
- Website Issues: Users were complaining about the navigation of the site. For instance, users are unable to view the whitepaper and website. The site needs to fix this to attract more investors.
Overall we believe DAEX will most likely be unable to complete their goal with the incompetent team and will most likely fail. Do not invest.