INTRODUCTION
Despite the great advantages the digital asset market offers, the problems associated with it are so numerous and require urgent attention in order to preserve its integrity. These problems include price instability, insecurity and lack of transparency, thereby making it susceptible to the market. The Daex project provides solutions to these problems by offering a secure and trusted blockchain-based distributed digital asset clearing ecosystem. Daex has a wallet that is designed to meet the need of both businesses and individual users.
PROBLEMS OF DIGITAL ASSETS MARKET
SECURITY CHALLENGES
The problems of insecurity and lack of transparency associated with the digital asset market make the participants prone to attacks and thefts. Due to the frequent hacks faced by investors and digital assets exchanges, the value and credibility of the market has greatly declined.
CLEARING PROBLEM
The digital asset market lacks the perfect clearing functionality, the blockchain protocols and the clearing business process are defective and urgently need to be redesigned to a very secure and efficient blockchain clearing ecosystem.
LACK OF INFRASTRUCTURAL IMPROVEMENT
There is no improvement in the clearing mechanism of the current market due to the lack of credibility in the protocol and service the market offers. A blockchain technology digital asset wallet must be introduced to increase the functionality and value of the market.
SOLUTIONS OFFERED BY DAEX
DAEX develops a good relationship between the assets and their owners by creating an account system. To enjoy distributed clearing services effectively, the participants must create their own clearing accounts. DAEX makes the account secure, trusted and authenticated.
DAEX creates a clearing chain which allows multiple chains connection which includes the identity and settlement chains. This helps to upgrade key components such as consensus mechanism, transaction encryption and privacy protection.
DAEX combines the advantages of both the centralized and decentralized solutions which offer complete and uninterrupted security system. This prevents data falsification and modification.
QUALITIES OF DAEX WALLET
It supports multiple digital assets.
It has a single-identity account asset management system.
It manages digital asset for organizational users.
It has a multi-segment key that protects user assets, making it difficult for a single organization to recover the whole key or initiate asset transaction.
THE IDENTITY CHAIN AND ITS FUNCTIONS
The identity chain connects the third-party identity service organization, digital asset exchanges and the distributed ID center together as link on a single chain. The distributed ID center is responsible for the registration, management and authentication of user identities on the clearing chain.
It addresses the security threats of password guessing, service provider impersonation attacks, eavesdropping, replay attacks, session hijacking, man-in-the-middle attacks, denial-of-service attacks and malicious code injections.
ECOSYSTEM GOVERNANCE
For a successful blockchain project to take place, there are some important components to be in action. They are;
Its proposed technical solution, the structure of its ecosystem and its governance model. The chain governance allows all users to have the freedom to make decisions by voting and to get involved in the issues they care about.
CONCLUSION.
Daex provides a solution to all the problems facing the current digital asset market by creating a secure, scam-free, transparent and profitable ecosystem that favors all the participants.
For more information on DAEX, kindly visit these links.
Website: https://www.daex.io
Whitepaper:
https://www.daex.io/daexPaper.do
Ann: https://bitcointalk.org/index.php?topic=2910479.0
Twitter: https://twitter.com/DaexBlockchain
Telegram: https://t.me/DAEXOfficial_en
My bitcointalk username: drayman
My bitcointalk profile:
https://bitcointalk.org/index.php?action=profile;u=2346395;sa=summary