DAEX: THE TENABLE SOLUTION TO HACKING

Have you ever been worried about your digital assets?
Do you constantly live in constant fear that someday your digital asset will be worth nothing leading you to bankruptcy?
Are you sceptical about buying any digital asset because of the volatility of the market and price fluctuations?
Do you live with the constant worry of cyber-attacks and hack on your wallet which can lead to lose in capital and sometimes profit?

These and many more issues are tenable as the digital assets market is plagued with these bottlenecks and these challenges have been a constant worry to investors as no one is willing to looking to lose but rather gain in every business venture. The good news is here as DAEX is set to revamp and restructure blockchain technology with innovations that will not only protect investors but also give value to digital assets.

OVERVIEW
Before the introduction of technology, exchange and transactions were carried through the trade by barter system where people exchange goods hey possess for goods they need and this was the basic trend until the introduction of a legal tender (money). The advent of technology has brought a rise in the use of digital assets as a means of exchange as opposed to the use of fiat. Digital asset was first introduced over a decade ago and it is known as the fastest growing technology ever implemented in the world and today, digital assets have become an imperative and exclusive tool used by everyone currently involved in blockchain technology. However, there are several issues currently plaguing blockchain technology, as the adoptability has been on an increase there have been series of problem which calls for the revamping and restructuring for a secured and interoperable platform and it is on this premise DAEX is birthed.

BOTTLENECKS IN BLOCKCHAIN TECHNOLOGY

SECURITY ISSUES
There have been a lot of security issues and hacking since the inception of blockchain technology and this has made users vulnerable to loss in funds. As a matter of fact there have been multiple cyber hacking lately which has led to the down trend of bitcoin and other alt coin. These attack has led to the shift in price as well as a decrease in the massive adoption of blockchain technology as a legal tender or a preferable replacement for fiat. The recent hack of $32 million dollars from South Korea exchange Bithumb which is ranked as the 7th global exchange led to a decrease in the price of bitcoin and this fluctuation in prices is the reason why the general public perceive digital assets to be too volatile and unstable.

ECOSYSTEM DESIGN
The ecosystem design of blockchain 1.0, 2.0 and 3.0 (bitcoin, ethereum and dapp) give an unclear plan for the clearing of data due to the type of protocol and consensus mechanism they work on. These protocols give little or no detailed plan on their means of clearing data and the storage of various transaction data for different types of wallet. This is a major challenge as there is likely to be glitches and overwriting. In order to make blockchain technology more secured and massively adopted there is the need for restructuring and optimization of these protocols and consensus mechanisms.

TECHNICAL INFRASTRUCTURE
Traders of digital assets on various exchanges are usually plagued with the problem of security (as an exchange can be hacked and all funds lost in the process) and uncertainty of various market situations. Hence, the solution to a secured and reliable exchange platform is not just hinged on the clearing solution of the ecosystem as this can also lead to unsecured data of clients, it is therefore expedient that a wallet which is transparent, trustworthy and universal be provided. For the smooth sailing of this architecture, this digital asset wallet will be used to store various assets as well as solve critical market situations in the blockchain ecosystem.

DAEX: THE ECOSYSTEM FOR INTEROPERABILITY OF BLOCKCHAIN
Daex is geared towards solving problems that pertains to security and authenticity of data by building a decentralized multi digital wallet that enables clearing solution of the ecosystem. This is made possible by the following inbuilt architecture

Value Chain
The value chain works in a distributed chain manner in that it connects centralized exchanges with decentralized clearing and settlement services (Ref: technical whitepaper). With this it is easier to monitor both the upstream and downstream digital asset transactions as wallets are visible as well as secured. This is made possible by integrating the use of the basic steps:

Identity Verification
For easy and secured transactions there is need for verification of users identity as this will stampede the breach in data management.
Asset Registration
All assets are registered for easy identification in order for every user to know the exact worth of his or her digital asset.
Trade Matching
This is a transaction process by which a digital asset can be matched with another. That is, an exchange of one digital asset for another digital asset. The Daex system enables infrastructures that permits conventional trading models.
Asset Clearing
This is the clearing up of the matched asset. The Daex wallet allows a user to single-handedly clear transactions.
Asset Settlement
The matched and cleared assets are eventually settled in order to complete the entire transaction process.

Ecosystem Component
The component of the ecosystem comprises of the distributed multi-asset wallet, the distributed ID centre, the asset clearing centre and the asset registration and settlement centre (Ref : Technical Whitepaper). These components makes it easy for security of private keys and secured trading. The decentralised digital asset wallet makes it possible for managerial services to be offered to a wide range of users.

Capability Model
The basic solution of this model is to increase the possibility of multiple data processing. This is one of the major issue not found in other blockchain token or wallet. The speed in transaction and processing of data will certainly increase since it can run multiple entities at a time.

CONCLUSION
with the various issues plaguing both conventional centralized and decentralized platforms, there is an imperative need to solve these problems in order for Blockchain technology to be massively adopted by the world at large. Hence, this project is bringing to limelight the progress of how much work has been done to reduce the risk that comes with the use of cryptocurrency exchange by integrating a wallet that is safe and secured and at the same time universal.
THE TEAM
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