What Is DAEX Cryptocurrency?

What Is DAEX Cryptocurrency?

C-Buzz
May 15, 2018 by KARAN GHOSH
79
BTCWires– The next big thing in the cryptocurrency industry, DAEX is an all-new blockchain-based clearing service. It has been described as an open and decentralized clearing and settlement ecosystem for all cryptocurrency exchanges. It is a blockchain-based clearing service which has been built using distributed ledger technology. Due to its use of a decentralized ledger,
btc wires

BTCWires– The next big thing in the cryptocurrency industry, DAEX is an all-new blockchain-based clearing service. It has been described as an open and decentralized clearing and settlement ecosystem for all cryptocurrency exchanges. It is a blockchain-based clearing service which has been built using distributed ledger technology. Due to its use of a decentralized ledger, DAEX is able to secure all internal trades and it can make sure that all accounts are safely cleared and settled.

Due to the blockchain technology, all assets owned by the users within DAEX are kept safe in their own accounts and are stored forever on the blockchain. The ecosystem is designed in such a way that no one else can access a user’s assets without their permission. This is done to ensure a high degree of safety. This effectively eliminates any trader-based risks previously associated with existing centralized exchanges.

So what are the key features of the platform?

The platform uses a Clearing as a Service (CaaS) model to provide clearing services to cryptocurrency exchanges. The DAEX Wallet supports multiple signatures as well as a host of unique digital currency assets. Due to its unique design, it can access multiple crypto exchanges, facilitating seamless virtual currency trading. The clearing facility has been deployed within a public cloud which greatly increases its reach. Hence, exchanges and participating members can use clearing-related services via specialized APIs or clients

Also a great thing about the DAEX platform is that it is entirely open-source based and has been set up on a public blockchain. This ensures that its intrinsic program code is privy to public inspection, supervision, and scrutiny. This makes the entire program extremely transparent and safe to trust.

Lastly, one more great feature of the wallet is that the DAEX ecosystem employs a private key as well as a recovery mechanism in case a customer loses his or her security clearance (i.e., access key). This makes the entire process much safer.

If you would like to start investing in DAEX, DAX trading pairs are currently available on LBank, Allcoin, and BCEX.

Karan is a true wordsmith and he has an adept way with words. His past experience of Content Journalism includes writing for the Indian as well the South African Governments.

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