DAEX is a clearing solution for centralized cryptocurrency trading exchanges. Its clearing service is based on distributed ledger technology. Clearing and settlement rules are preprogrammed into clearing smart contracts on the DAEX clearing chain. The clearing process is automatic without people’s interference. The objectivity of clearing is guaranteed by the consensus mechanism on the clearing chain. Also, customers’digital assets are registered and stored on the DAEX’s clearing chain. No other institutions or individuals can access these assets without the owner’s permission.
The goal of DAEX is to provide a better infrastructure for the cryptocurrency
trading industry by taking the reasonable parts of the mainstream securities trading industry and by taking advantages of new opportunities brought about by the distributed ledger technology. Specifically, trading and clearing will be separated into different entities. Current centralized
exchanges will continue to provide trading service. But the clearing work
will be handled over to a common clearing service which is based on the
DAEX solution. But, different from current centralized clearing services, the DAEX clearing service is based on distributed ledger technology. The
distributed ledger technology guarantees that trades are correctly and
safely cleared and settled. By using distributed ledger technology, trader’s
assets are kept in their own accounts on the blockchain. No one else can
access traders’ assets without their permissions. This effectively removes trader’s asset risks in current centralized exchanges.
The DAEX solution will be an open sourced clearing service based on a
public blockchain. Its code is open for public inspection and supervision.
The clearing chain
Cryptocurrency clearing service based on distributed ledger technology. It
uses Clearing as a Service (CaaS) method to provide clearing services for
A cryptocurrency wallet that supports multiple signatures and multiple
digital assets. It accesses exchanges to trade cryptocurrencies and the
clearing chain to manage its assets.
Multiple-part private key
A private key that is broken into several parts. Some parts have to be used
together to access assets in the wallet.
Clearing as a Service（CaaS）
A clearing service that is provided using a cloud mode. The clearing facility is deployed on a public cloud. Exchanges and clearing members obtain
clearing related services through APIs or clients.
The rapid development of cryptocurrency trading calls for a more effective
and secure clearing service. After a series of hacker thefts and security
incidents, many exchanges have to come to the consensus that a common
clearing and asset custodian service is required to protect the market and to
guarantee the sustained growth of the market. DAEX is therefore the answer to this market need.
How to buy Daex (DAX) in 2020?
If you want to buy cryptocurrencies like Bitcoin (BTC), Daex (DAX) or any other altcoins, you have two options: if you don’t mind KYC (Know Your Customer) policy, you can create an account with CoinBase. Because of KYC policy, the site will ask for various papers like ID, proof of address and so on. If you want to go anonymous, you can create an account with Binance or KuCoin. On those last two sites you won’t need any proof of identity as long as you don’t exchange large amount of cryptocurrencies. Just click on one of the above link and follow some simple steps to open your own crypto account.