DAEX:ESTABLISHING A BETTER WORLD FOR THE CRYPTOCURRENCY TRADING INDUSTRY

The problems that has struck the trading exchange of cryptocurrencies today, is a thing of great discomfort, owing to the fact that the well known and used current cryptocurrency exchange has some flaws that has placed it on an imperfection scale.Daex offers a better infrastructure for the cryptocurrency trading industry by playing a reasonable part in the mainstream security trading industry and laying hold of new opportunities offered by the distributed ledger technology.
Cryptocurrency Exchange
It is a business that provides a room for trading of digital currencies or cryptocurrencies for other assets such as conventional fiat money,or different digital currencies.There are two types of cryptocurrency exchanges in the blockchain,distributed exchanges and centralized exchanges.
Distributed Exchange
The distributed exchanges is a kind of exchange that does its running by itself,it does not need the assistance of anybody to maintain its operations.Traders trade directly with themselves in a distributed exchange and all the asset owned by the trader in a distributed exchange, is placed in his/her account,the exchange cannot have access to it.All trade exchange are guaranteed to go through when placed on the exchange underlying technology to make sure that it is cleared and settled correctly.
Advantage of a distributed exchanges
· Elimination of intermediaries or middlemen:Most of the world’s infrastructure consist of intermediaries or middlemen like lawyers who act as an intermediary between the public and the law,or bankers who act as an intermediary between individuals and their access to creditors.There’s a possibility that lawyers, brokers ,and bankers could be made obsolete by blockchain technology in the future.With the distributed exchange it is visibly impossible for these middlemen to come in.
· The asset of traders are well protected:Traders has no need to bother about the security of their asset because the distributed exchange guarantees that.
· Trading and clearing cost are low.
· Traders can trade in any part of the world with anyone as far as that the exchange used are the same.
Disadvantage of distributed exchanges
· The 51 percent attack:If 51 percent of nodes agree that a transaction is fine ,that’s it.It doesn’t look scary at first,a deeper look will show how terrible this can be.When one or more groups of people can work together to commandeer 50 percent of a blockchain network and approve an illegal transaction,the transaction will certainly be is approved.
· Speed of transaction influenced by incentives.
Centralized exchanges
This exchange is an opposite of the distributed exchange in all ramifications.It has a storage where all the cryptocurrencies are received as deposit and stored.Each traders account is issued with an IOUs,these IOUs are used among trader in exchange.These IOUs are used in exchange to send cryptocurrencies to desired addresses.
Advantages of centralized exchanges
· Greater speed and flexibility.
· High level of transparency.
· Fast customer service.
Disadvantages of a centralized exchange
· Surveillance and tracking of transactions is easy because they go through a central clearinghouse,which is opened to criminals.
· Privacy is limited,and risk increased.
· Since they are subject to regulation,centralized exchanges can be more prone to taxation and other government actions.
Solution

Due to the flaws existing in the cryptocurrency trading industry,Daex offers a better infrastructure by handing the mainstream securities trading industry and seizing new opportunities offered by the distributed ledger technology.Unlike the normal thing,trading and clearing are separated into different entities.The clearing services is carried out by daex clearing service,which is based on a distributed ledger technology.The distributed ledger service provides safety,ensuring that assets are kept in the traders account on the blockchain.
Conclusion
So many problems has stormed the current exchange of cryptocurrencies in the blockchain,and it is a thing of great discomfort.Daex has established a saving technology to redeem traders,no more problems of insecurity,because the distributed ledger service has taken good care of it.



To learn more about this Wonderful project, check out the links below:
Website: https://www.daex.io
Non-TechnicalWhitepaper: https://www.daex.io/pdf/DAEX(EN)
Technical Whitepaper: https://www.daex.io/pdf/DAEX(EN)
Twitter: https://twitter.com/DaexBlockchain
Telegram: https://www.t.me/DAEXOfficial_en
Authors Bitcoin username:ngozi76
Authors bitcoin profile link:https://bitcointalk.org/index.php?action=profile;u=2274301