Daxico - exchange of crypto currencies at a low cost
Hello friends of my dear readers and crypto friends, back again with Stevano on this occasion I will deliver a project that is still relatively new and very good for crypto friends. Project Daxico is a new payment platform for exchange cryptocurrency, wallets and peer-to-peer. Although the main use is as a place for customers to trade, we can also use it to store our crypto or make peer-to-peer payments. Although this is new, Daxico claims that they are connected or provide liquidity to ensure the best trading experience. Can you use this platform as an alternative exchange, or even use this as your main exchange? Before you answer that, you should know more about Daxico.
As I mentioned earlier, Daxico offers exchanges, wallets, and peer-to-peer payments. The exchange itself offers more than 100 digital assets. Daxico claims to have low spreads, high volumes, and fast execution speeds because of their liquidity providers. This means you can trade without waiting for the buyer / seller too long or risk your assets due to high volatility or large spreads.
Display and Features of the Daxico Exchange Platform
It should be noted that at the time of this writing, there are limited features on the exchange chart. If you want to use technical indicators like Bollinger bands and so on, you have to wait for the next increase. But you can already use exchanges and change the time for graphics, such as candles daily, weekly or monthly.
On the side of the wallet, there are some features that you won't see in other exchanges. Daxico offers a way to create many assets, accounts, or users with different access rights. This means, with one account, you can create or manage different wallet addresses, which is a good thing if you want to remain anonymous and prevent others from connecting your wallet address to the stock exchange. You can use some of these wallets the way you want, name them according to your needs and then use them to save / withdraw after you trade.
The last feature is P2P payments. Daxico will allow you to send crypto to other user accounts, at no cost because that doesn't happen on the blockchain. On the other hand, Daxico will more or less "send" your crypto to someone else's account. This means that Daxico will act like a fund manager who can transfer or transfer ownership of some assets to others.
OBJECTIVES OF DAXICO
To enable decoupling assets and transactions, authenticating using tokens, and restructuring of transaction process using a multiple asset based on the clearing and settlement protocol of blockchain.
To make the system, from three angles, more flexible and fair. The angles are: token time value, value sequence management and dynamic seat management.
DAEX’S CONSENSUS MECHANISM
Proof of work which Bitcoin, the first cryptocurrency implemented as its consensus mechanism was replaced by proof of stake because the latter does not consume energy like the former. In DAEX, proof of stake is used and a node can mine blocks when it has met several requirements which qualifies it to stake, one of the requirements is the number of currency it (the node) has.
DAX TOKENS
Five types of incentives (rewards) are given to nodes: reward for creating a block, adding proof of penalization, adding proof of revenue, adding proof of idleness and for participating in the validation of blocks. These incentives are awarded to ensure sustainability and growth. Users who err are justly penalized.
CHALLENGES FACED BY THE MARKET AND DAEX'S SOLUTION
The Digital Asset Market has both merits and demerits but its demerits, mostly security issues, non transparency, distrust, prone to volatility etc, have caused its goodness to diminish. This is the reason why DAEX was birthed; to help overcome these challenges with the use of a blockchain solution, which enables a safe, open, trusted and fully decentralized ecosystem. The market, is also as a result of the challenges aforementioned, prone to malicious cyber attacks and thievery which can cause major decline in digital value. Clearing business does not enjoy security and efficiency and many protocols need optimization and re-engineering. DAEX solution, discovered by its team of experts and computer scientists, differentiates clearing, transactions and custody. DAEX also opines that another functionality should be added to the wallet as regards asset trading to improve credibility and usefulness of wallets for managing assets.
BENEFITS
DAEX Clearing chain has some features that are also obtainable in centralized systems. Examples: a consensus mechanism, encryption of all transactions and security of privacy.
DAEX wallet permits users to personally clear transactions, thereby enabling a better user experience as regards trading and making payments.
Financial records of transactions on the network cannot be questioned as its smart contracts ensures that terms and conditions agreed on by both nodes are stored on an account that both party can identify with and the contract is implemented on each node. Atomic transactions are obtainable in DAEX in chains without smart contracts.
The wallet is specially designed to meet requirements of users both personal and/or organizational. It is what allows complete participation of users in the ecosystem’s process of voting and receiving rewards for clearing validation.
CONCLUSION
My overall impression for Daxico is very good, although there are some problems that need to be addressed such as the details of the team (not to be scammed and unable to sue later), technical features, and so on. But if you don't mind both, Daxico looks like a solid alternative if you want to exchange anonymously. Yes, you don't have to go through KYC / AML which is unnecessary here if you want to trade, and that also protects your privacy.
For more information, you can visit the link below:
Website: https://www.daex.io
Whitepaper: https://www.daex.io/pdf/DAEX(EN)
Twitter: https://twitter.com/DaexBlockchain
Telegram: https://www.t.me/DAEXOfficial_en
Writer: Stevano
BTT Profile Link: https://bitcointalk.org/index.php?action=profile;u=939773