What is DxChain Token?
DxChain (DX) is a platform that allows Big data and Machine learning to be powered by a central computing blockchain with its own token (DxChain Token).
This project serves the data trading platform for those who want to sell data most simply. Big data and machine learning will be applied to make data usage easier and more flexible.
The DxChain platform provides users with not only a data exchange platform but also a business analytics platform for data processing, supporting the provision of detailed information about the business. The design of the platform also aims to handle Big data computing in a decentralized environment by applying blockchain to data storage and computation.
DxChain Token (DX) is a cryptocurrency token issued on the Ethereum platform. (Ethereum: Bitcoin 2.0, is a distributed computing platform that runs on blockchain technology, through the use of Smart Contract function.)
The token was originally issued as an Ethereum ERC-20 code. And once the DxChain blockchain is launched, it will be converted into a separate token. DxChain Token is a utility token, used as an exchange unit in DxNetwork. The token’s market capitalization will increase with the usage of this network.
Pros and Cons
The team has secured partnerships with various established companies, increasing the potential for major project support. DxChain provides a large data platform with blockchain machine learning that has brought many advantages to users. The project targets storage capacity, which is what Bitcoin and Ethereum are not yet doing. They will then have large data calculations, not supported by Ethereum. The advisory team and the investors must say “respectable” – lots of big funds backed.
The number of members in the Telegram group is increasing, but having many members does not mean the interaction level in the group chat is high. Because most Telegram discussions are for referral/bonus links sharing, which is not project information. Bounty and airdrop have happened twice, which may not be a perfect idea for marketing. Although big data is very popular and controlled by third parties, it still requires high technical expertise and cost to implement. Hiring or contracting big data experts is expensive. Extending big data environments also requires important technical capabilities. Big companies with big pockets can do this, but not everyone can.
The bounty program for the community from its inception until now is a minus of DxChain.
Allan Zhang (Founder): Expert in blockchain and network security.
James Li (Co-Founder): Experienced in designing and creating blockchain system. Tripwire’s main security architect. He has over 10 years of experience in network security.
Tony Wu (Investor Relations): Managing partner of Sparkland Capital. He has over 10 years of experience in Global Market Investment Banking Sales and Transactions.
Xiaofei Liu (BlockChain Engineer): Master’s degree at Zhejiang University. Former senior software engineer at Alibaba. Extensive experience in the system and consensus mechanism in blockchain.
Taosheng Shi: Blockchain engineer Former principal system architect and innovation manager at Nokia, with over 10 years of experience in researching and developing distributed systems.
Li Lu (Blockchain Researcher): Ph.D. in distributed systems at the University of Rochester. He has over 10 years of experience in distributed systems and big data.
Jacky Wang (Block Chain Engineer): He holds a bachelor’s degree from Fudan University and a master’s degree from the University of Arizona.
Eric Wang: Full Stack Engineer, a former software engineer at google
Together with other core members, contribute to the creation and development of the platform.
DxChain’s outstanding features are chain-on-chain design, storage, calculation with consensus protocol and incentive mechanism. DxChain is learning more about the Proof of Useful Work, Proof of Storage and Proof of Computing programs on its platform to address the disadvantages of big data. DxChain has eliminated Big Data issues, the initial problem is high cost and mandatory for data storage services; The second is difficult in collecting data sources for small organizations; The third is the unfair distribution of profits earned from the data and last but not least is the resolution of security and privacy issues.
With DxChain, data will not belong to organizations, nor will it be centrally managed in a company’s database. The data will belong to each individual, represented as a token or coin on an identity blocking chain. It is clear that DxChain is not a new idea, but still a promising project in practice.