Dear DxChain Shareholders,
At the end of the year 2018, we would like to share with you the growth of DxChain in the past year, and our plans for the new year 2019.
In 2018 — 10 years after Satoshi Nakamoto published the Bitcoin White Paper, the blockchain industry has burst out tremendous vitality and energy, and the prices of BTC and ETH reached $19,000 and $1,300 in this year. However, the accompanying violent fluctuation of the whole market brought us an extraordinary year.
What is still fresh in the memory is that after months of hard work, the DxChain’s White Paper was completed on February 16, 2018. Thanks to the support and trust of our investors, eight days later, the seed-stage financing of DxChain was completed. In the following months, more than 40 investment institutions joined DxChain in succession, while the DxChain global community grew rapidly to nearly 200,000 members. In early August, after the accomplishment of a two-day, four-round public sale, DX was listed on three exchanges and became a tradable token.
In the future, both big data and AI technology will be based on the secure storage, value mining and privacy protection of data. At present, centralized internet giants monopolize the data, however the decentralized blockchain technology provides us an opportunity to break the monopoly. Beyond the mainstream consensus of PoW, data storage as a useful computing power will become a new field with a great value. Therefore, DxChain project team is working hard to explore this new field and to lead the new trend of the internet of value.
In terms of the product development, the DxChain research and engineering team has completed the development of two test net versions — Alpha (Rocky Mountains) and Beta (Andes Mountains). And the release of the official test net (version Alps Mountains) is projected in the first week of 2019. At that time, everyone can set up his or her own DxBox — a decentralized Dropbox based on DxChain Testnet, which indicates the implementation of the distributed data storage powered by DxChain Network.
Although the ETH price and the cryptocurrency market has fallen dramatically after the launch of DX, we still believe in the future of blockchain technology and we are making every effort to promote the research and development progress. We believe the young and dynamic team that survives in the cold winter will rise rapidly when spring breeze comes.
Moreover, we would like to share some updates of token distribution and exchange listing plans:
1) In terms of operating funds: the fund is sufficient to sustain DxChain research and development in the following few years.
2) The tokens for the foundation have never been sold in the secondary market, and the tokens for the DxChain project team are all locked and will be released linearly after a one-year cliff as planned.
3) All the financing funds have been and will be used for the DxChain project and community development. Also, we are in close communication with multiple exchanges, and DX will be listed on more exchanges to increase the liquidity.
To have a long-term vision, we will focus on the project research and development rather than the fluctuation in secondary market. Because we are fully confident of the future of DxChain Network, and we will continue working hard to create long-term value return for all the investors.
Thanks again for all the investors for choosing DxChain and believing in the future of data storage based on blockchain. We believe that everyone’s determination will eventually usher in a tremendous return.
Thank you and wish you all a happy new year!
Allan Zhang & DxChain Project Team
With regards to DxChain: A Decentralized Big Data and Machine Learning Network Powered by a Computing-Centric Blockchain.