A camel … a desert ship … what first comes to mind when you hear “Camel”? Why exactly it is represented on the logo of the DxChain project. As we all well know, a camel is symbolically connected with research, travels to distant lands, uncharted expanses to be discovered.
We live in an era of information, and who owns the information rules the world. So data has already become the number one product, and their analysis allows you to get valuable information and statistics that large companies are happy to collect, buy and sell. This can be either behavioral information or personal data of users, any big data, received from a geolocation system or Internet of Things devices. Decentralized systems will destroy a kind of monopolization of the information market and return data back to their owners or users. A huge market has already been formed in this area, and our “camel” is trying to take its place in the sun, offering a unique product.
DxChain (literally decentralized network) is developing a decentralized platform to solve the problem of storing and analyzing big data. To achieve these goals, the project uses blockchain and machine learning technologies.
DxChain offers the following solutions:
- Maximum customization of data sampling
- Full control over your data
- Flexible protection of any data in the blockchain network
- Support for business intelligence and machine learning
The platform has two main focuses of its activity: computing and storage.
The project uses the innovative blockchain network architecture for this. In a distributed environment with open source code, the trust between all ecosystem participants is ensured, and all data necessary for the operation of the network is processed and stored. The architecture of this technology is software that combines a large number of equipment into one network to solve various computing problems. In this case, the data is written sequentially in the block and cannot be changed. The DxChain architecture consists of three chains: the main and two side, involved respectively in the work of storing or computing data.
The Master Chain perform the main function of storing data of Smart Contracts and about all ongoing transactions. Consensus in the network is achieved using the Proof of Work (PoW) protocol.
The Data Side Chain (DSC) is a peer-to-peer data storage system. Its function is only storing data that is not related to digital assets, and providing access to this information for users. That is, this chain will provide and regulate all the big data, receive and send them to the server for storage. The registry will be used to process requests and distribute data over the network. The Proof of Spacetime (PoSt) consensus algorithm is used for this.
Computation Side Chain (CSC) is a computing network which processing and storage of any calculation data and queries will take place. It will perform, using machine learning, parallel computing on the platform’s virtual machine, which is requested by the network ecosystem. All this will provide the network`s performs useful work and provide support for BI (Business intelligence).
It is worth mentioning that the DxChain model uses the ideas of Hadoop technology, because it has become the best solution for distributed data storage in organizations or companies. However, the problem of how to achieve trust between different organizations or participants for the implementation of distributed storage cannot be solved using Hadoop. Fortunately, blockchain technology offers the perfect solution.
DxChain takes technological advantages that have been repeatedly approved over the last ten years of using Hadoop, combined with unique blockchain technology mechanisms to solve the problems of distributed data storage and cloud computing.
It is interesting that a whole theory can be built regarding the logo of the project, because the Bactrian camel is the largest representative of the entire family of camels, which indicates about the ambitiousness of the project. A camel is an extremely adapted animal to harsh living conditions, can travel without water for a long time, saving and storing fat in both humps as a food reserve for long trips. It is similar to how data is stored on the blockchain for future use, in a distributed and always accessible form.
What has already been done.
At the moment, a test network has been launched and is working, which has already undergone several iterations. The last major update took place on July 8, 2019. At the moment, the network operates on 128 nodes, and you can see how blockchain explorer works.
The DxBox dApp is cloud decentralized storage also runs on the test network, and anyone can easily upload their file to the network just in few clicks (the artificial restriction is currently set: you can’t upload file larger than 10 megabytes). If you want to save your data, such as memorable photos, you will be very worried about the safety, security and privacy. You can store them at home, but the disk storage may fail and the data will have to be recovered. Moisture, physical damage or electromagnetic waves, the jump in voltage can destroy all the data. By uploading your data to the network, privacy may suffer, as today the data is downloaded and stored on a centralized server and practically not protected. The blockchain technology and its solution from the DxChain project, called DxBox cloud blockchain storage, comes to the rescue, which will solve all these problems at once. So all the data will be uploaded to the blockchain network and will never be lost, but they will be protected and encrypted, broken into pieces and scattered throughout the network, so that no one can get the whole information. What else will interest the user is the simplicity, speed and ease of use of the service, and now at the stage of the test network, you can see how friendly it is.
Also, anyone can join the project and begin to participate in the development of the network by filling out the application form and become a network node. The node can be run on Linux or Mac OS.
There are three roles that you can choose for the operation of the node:
- to actively support the network, you can run the miner
- as a server, provide free space on your hard drive
- as a client to rent free space for storing files
For the first two roles, you can receive a reward in DX tokens.
Thus the technical part of the project related to the development of the Data Side Chain has been totally completed in the last update. The journey continues, and our Camel is on its way to launch the main network. According to the project roadmap, this phase is planned for the end of 2019 — the beginning of 2020.
Almost exactly a year ago, an ICO was held from August 3 to 6, 2018, early investors could support the project, an ERC-20 standard tokens were issued on the Ethereum platform. It should be remembered that after the launch of the main network, tokens will migrate to the DxChain blockchain. Currently, about 46.2% of issued tokens are involved in the turnover. At the ICO stage, there was a lot of hype around the project, after hitting the exchange there were those who managed to earn in the first days of trading and those who lost part of their money. There is no finished product, and the tokenomics of the project in fact do not work, a paradise for speculation around the price of the token. Over time, hype fell, and routine work began for developers…
For those who are looking at the future, it should be remembered that many large venture funds invested in the project, and the project team did not abandon their brainchild, and gradually moves forward to implement all the planned ideas.
All the most interesting is waiting for us ahead, because if the DxChain project team after launching the main network manages to find business partners and real applications for its product, then you should not even talk about current prices. And there are really many areas of application. Everything related to the support of various machine learning algorithms and data mining, data streaming, music / video and many other applications. So in Smart City systems and the Internet of Things, DxChain users will be able to directly run machine learning analysis in the dataset that the sensors generate every day, create effective analytical reports to make the right decisions regarding, for example, settings for the functioning of the Smart Home. Many applications with self-learning and self-regulating systems will appear. In the field of healthcare, it’s already clear that people’s medical history can be analyzed as big data, and artificial intelligence can be used to identify similar medical histories, make a more accurate diagnosis and prescribe the right treatment, machine learning allows medical providers to create their own AI to monitor patient’s health and transmit critical vital signal. As a result, DxChain will reduce the cost of data storage and the amount of traffic. At the same time, patient data will be safely stored in encrypted form on the blockchain, and only a pre-regulated circle of people can get access to them.
In the future, DxChain will be able to break the information monopoly of giant companies, thereby moving the Internet into a new, multidimensional and fully decentralized era. The Internet of the Future is not beyond distant mountains and endless deserts, but our journey has already begun!
Also read on Reddit.