DRK Updates for Q2/2020
DRK Chain was born with the mission of optimizing blockchain application in the field of Decentralized Finance, a new trend of world finance, promised to thrive in the coming years. We are delighted that the testing phase and launching of DRK Chain’s Mainnet has been completed with success and used for the creation of over 700 new wallets. This is a favorable initial result with the vision of DRK Team set for blockchain platform optimized for DeFi. In this article, DRK team would like to inform the community of new events and updates in the future, particularly in the second quarter of 2020.
DRK Coin Airdrop Program
A good platform needs to be well known and widely applied by the public. Therefore, DRK team is pleased to announce the commencement of our DRK Coin Airdrop program. This is an opportunity for the community to experience the performance of DRK Chain and get a better understanding of our technologies and vision. The program is expected to reach over 30,000 registered members. Program details will be announced in the next few days.
Draken Decentralized Exchange (DRK DEX)
A decentralized exchange is an exchange market that does not rely on a third-party service to hold the customer’s funds. Instead, trades occur directly between users (peer-to-peer) through an automated process. Such a system can be established by creating proxy tokens (cryptoassets that represent a certain fiat or cryptocurrency) or assets (that can represent shares in a company for example) or through a decentralized multi-signature escrow system, among other solutions.
The most obvious benefit to using a decentralized exchange over a centralized one is their “trustless” nature. You are not required to trust the security or honesty of the exchange since the funds are held by you in your personal wallet and not by a third party.
Another advantage to the decentralized model is the privacy it provides. Users are not required to disclose their personal details to anyone, except if the exchange method involves bank transfers, in which case your identity is revealed only to the person that is selling or buying from you.
Furthermore, the hosting of decentralized exchanges is distributed throughout the nodes involved — meaning that there is no risk of server downtime.
In addition to inheriting the strengths and trends of DEX, DRK DEX is also a Cross Chain system when combining both DRK Chain and Ethereum Blockchain. DRK DEX is scheduled to be released within the second quarter of 2020.
Draken to become a decentralized autonomous organization (DDAO)
A decentralized autonomous organization (DAO) is an organization represented by encrypted rules as a transparent computer program, controlled by shareholders and not influenced by the central government. DAO’s financial transaction records and program rules are maintained on the blockchain.
Draken or DRK sets a long-term development vision with products that shape a decentralized financial platform for the future of humanity. We envision that in the future, credit transactions, user data, accounting books, etc. will all be automated and operated by the DRK Chain network with the help of Smart Contract. Therefore, Draken or DRK will become a representative organization to create the initial operating scale and to be decided by users and content creators participating in the development system of DRK. A financial platform model of the users, for the users and not controlled by any particular party.
Imagine when you want to make a profitable loan from your savings. The only decision under your control is whether you will lend or not. All information about the borrower, borrower’s credit rating, bad debts, incurred fee, terms of contract,… will all be processed in just a few seconds. Each month, interest will be added to your account and liquidated the contract in accordance with the original regulations. It has no manager and does not require trust from both lenders and borrowers. All processes and information are operated by DRK Chain, Smartcontract and have been encrypted.