Today's DxChain price is $0.002331, which is up 11% over the last 7 days. DxChain's market cap is $116.55M. 1 week DX volume is $5.34M. It has a market cap rank of 86 with a circulating supply of 50,000,000,000 and max supply of 100,000,000,000. DxChain is traded on exchanges. DxChain had an all-time high of $0.002944 about 2 months ago. Over the last week, DxChain has had 57% transparent volume.
Based in China, DxChain was created in 2018 aiming to become the first decentralized network worldwide operating with big data and machine learning. Based on the Ethereum platform, it is fueled by the native utility token DX.
The DxChain end-users are able to use the network by sharing their data. The network can also be used as a business intelligence platform aimed at analyzing the assistance of both storage and computing. DxChain’s agenda The key problem that DxChain aims to resolve is associated with the decentralized parallel computations that are able to back up both big data and machine learning. Big data and machine learning are the two advanced technologies that need a high speed of development and integration. But still, startups with effective solutions and technologies to apply Big data and machine learning in everyday business activity are too few. To fix this problem, DxChain uses the Hadoop algorithm that was specifically designed for data storage. That solves the problem of the stored data as the big amount of doesn’t slow down the work of the whole system anymore. This algorithm has three basic elements: job tracker, task tracker, and workers. They are interconnected through the computational chain to synchronize running jobs. Moreover, there are two harmonized mechanisms: the first one verifies the game and the second one computes data. The key function of this computational chain is the activation of the nodes to provide computation power. DxChain Testnet In January 2019, the team standing behind the project released the Testnet version which is able to provide persistent and reliable decentralized storage service based on storage contracts. Testnet network has been released along with API and SDK.
The main features of the DxChain data chain include: Full support of all the transactions for storage contracts. All nodes on the chain could work as a storage client or provider to get involved in data storage service. Data storage system high reliability by introducing erasure code algorithm with a comparatively low level of redundancy. Effective challenge-proof algorithm for data storage validation. Information security with data encryption mechanisms protecting users’ privacy. How DxChain works The DxChain system is a three-chain structure including two features:
Master and side-chain system which aims to separate the chains by their functions. The master chain is in charge of the transactions while the side chains deal with the storage and the computing stuff. Unchanging master chain and elastic side chains aiming to separate them in accordance with their ranging, work effectivity and the ability to check the blockchain’s latency. These functions are of limited duration, so there’s no need for blocks to keep the expired data. The DxChain team creates a chain that could shorten the algorithm responsible for removing the unused data. The work is aimed at saving some valuable block space. Today, most of the blockchains are used for financial transactions and the only functions of their computations consist of checking transactional records. Such blockchains require no additional resources. However, the DxChain Network computations back up simple general processing. For example, BTC stores all the transaction records on the blockchain because it helps to reach consensus in the network. Over a half of the active nodes should accept that. But Bitcoin’s blockchain doesn’t support all the computational storage. DxChain employs two devices to make the computations working easily: the Verification game algorithm and the Provable Data Computation (PDC). Verification game algorithm has three basic functions: to solve, to verify and to judge. This system testifies whether the computing procedure is correct, but it doesn’t waste way too much of computing resource. PDC constitutes a statistics system. This system testifies if the results of all the computations are correct. It uses several excessive computer-based copies. In general, the main goal of the DxChain Network is to fix the issues accompanying outsourced computations and decentralized mining by using those two verification algorithms. The DxChain Token The DxChain Token (DX) operates on the Ethereum platform. The total supply at the time of writing is equal to 100,000,000,000 with 50,000,000,000 in circulation. It's available for trading on a few minor exchanges such as Bilaxy, Gate.io, and Kucoin. The ICO token sale began on August 3rd, 2018. The project has managed to raise the hard cap of 14.9 million USD in a matter of 2 days. DxChain team The DxChain was created by highly qualified Chinese professionals. Each of them has an in-depth knowledge and profound experience in IT solutions, blockchain and cryptocurrency.
The project’s Co-founder Allan Zhang is an entrepreneur, an expert in the blockchain and network security. He is in charge of the Trustlook, an innovative AI technology providing total threat protection against malware and other forms of attack.
His colleague and another Co-founder James Li has a huge know-how in the blockchain design. He’s a major security architect and has more than 10 years of experience in the network security. Another member of the DxChain team is Tony Wu. He’s in charge of Relationships with Investors. He is also the Managing Partner at Sparkland Capital, an early-stage venture capital firm that invests in frontier technologies.Read More