SHANGHAI--(BUSINESS WIRE)--DAEX recently released a White Paper on a new distributed ledger and clearing ecosystem. Based on the White Paper, it aims to provide an infrastructure for traditional centralized trading platforms while keeping their core transactional functions. Meanwhile, it avoids the downsides of the purely decentralized Exchanges to ensure a more secure, transparent and credible environment with the high liquidity of digital assets.
Most centralized trading platforms are highly exposed to hack attacks and operation risks because they have a full spectrum of business, covering asset auditing, transaction matchmaking, data storage, asset custody, clearing and settlement. In contrast, most decentralized trading platforms can use distributed ledger technology and smart contracts to avoid data storage and asset custody, so as to achieve high security and transparency. However, the latter is therefore less efficient and of lower liquidity compared to the former.
DAEX, however, combines the advantages of centralized and decentralized Cryptocurrency Exchanges by separating clearing and settlement process from the centralized trading platforms and employing DAEX’s solution to offer liquidation and settlement as third-party services. The DAEX ecosystem consists of three parts: the centralized trading platforms, the wallet users, and the DAEX Foundation. The Foundation acts as a bridge, which connects the other two parts, providing DAEX's unique clearing chain and wallet solutions.
With the DAEX solution, a user can send a transaction request via DAEX Wallet to the trading platforms, which is embedded in the DAEX ecosystem. Once a transaction is matched, it will be sent to the clearing chain immediately and completed by the smart clearing contracts. This solution helps reduce risks for the trading platforms and ensure that the user’s digital assets stay in their own wallet accounts.
With its headquarters in Switzerland, DAEX project is developed and operated by the DAEX Foundation. It has established partnerships with several international renowned institutions, such as Qtum Foundation, International Digital Economic League (IDEL), Sora Venture Capital and Jenga Blockchain Capital. For more information, please download the latest whitepaper from the DAEX website at https://daex.io.
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Twitter: DAEX@DaexBlockchain &