DAEX is a clearing service for digital currency transactions

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DAEX is a clearing service for digital currency transactions

DAEX (Digital Asset Exchange) which is an open digital currency ecosystem and its distribution aims to provide clearing solutions for digital currency exchange. Clearing in DAEX is a form of agreement service in transacting digital currency so that transaction is achieved, then transaction is recorded on technology in the ledger and distributed through smart contracts. There are already several institutions that have collaborated with DAEX, and several institutions such as the Qtum Foundation, Sora Ventures, ChainPE, InnoNext, 8 Decimal Capital and Jenga Blockchain Capital.

The purpose of DAEX was established

Providing better infrastructure for the digital currency trading industry has become the main objective of the establishment of DAEX. By taking a reasonable part of the main securities trading industry and by taking advantage of new opportunities brought by ledger technology.

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Ecosystem in DAEX

Having a decentralized market is considered safer in terms of asset ownership, because wallets are accessed using unique private keys by traders. So that when trading using the ledger technology contained in smart contracts using the concept of peer to peer trading eliminates the participation of third parties to have control.

Chain Clearing DAEX, also known as DAEX Blockchain, will be the core product of the ecosystem. DAEX continues this trend with the creation of ASPoS (Accumulative Signatures for Proof of Stake) for use in the DAEX Clearing Chain.

The Clearing Chain has a function as a means to store transaction data for various types of digital assets. This will display a cross-chain structure that supports connections to the Identity Chain and the Settlement Chain. The Identity Chain is a separate blockchain, which will act as a Distributed ID Center that complements user registration, authentication and identity management. Then there will be an identity and authentication process here, and the completion chain is another separate blockchain, which will connect to the Asset Settlement and Registration Center. The main objective of this center is to facilitate the registration of trusted digital assets and map these assets to the Clearing Chain. Having a function as a multi-asset wallet owned by DAEX wallet will include a multi-segment private key mechanism.

For DAX token holders giving value using the Clearing Value Factor based on their activities in the ecosystem. This value is influenced by several factors, including the following:

Clearing Value:
Measures clearing contributions by calculating the number of contracts clearing user accumulation and the total clearing amount in the current time changes.
Capital Value:
Calculate the total value of users' digital assets in the clearing ecosystem based on factors such as rank, market value, circulation ratio, and daily transaction volume.
Transaction Value:
Transaction Value: the calculation of transaction value is based on a scientific combination of periodic peaks and clearing times, trading components, trade channels, and other factors.
Active Value:
Based on the time of user clearing participation, the ability to influence trade, and new customers developed as well as other factors to shape the clearing activity profile.
Identity Value:
Calculation of the level of identity clearing based on the participation of users in the business range on the exchange, etc.

To bring you closer to the DAEX project, watch the following short video