DxChain is described by its creators as the world's first decentralized machine learning and big data network that is powered by a computing-centric blockchain. Industry experts believe that DX has the power to give projects like Sia and Dfinity a run for their money.
This short guide will explain what DxChain is designed for, the team behind it, the way it works, and the various uses and applications.
What Is DxChain Token Designed For?
DxChain is built on the premise that data is a valuable resource and creators of data should be able to benefit from their hard work. The team designed DxChain to tackle major issues in big data, including privacy, ownership, and security. They also designed it to support machine learning and business intelligence applications.
Who Is The Team Behind DxChain Token?
There are 12 members in the DxChain team. Allan Zhang is the co-founder with over a decade of experience in cyber-security. In 2013, after a notable career as a Senior Security and Vulnerability Research Engineer, Allan established the company Trustlook AI Cybersecurity. The company launched a line of malware threat protection products for IoT and mobile devices.
Another co-founder of DxChain is Wei Wang, who is also the chief scientist. Wang is the former Principal Scientist for AT&T in regards to Blockchain Database Research. He also spent 2 years as the Principal Scientist of Big Data and Parallel Computing at Hortonworks before joining AT&T.
The third co-founder is James Li who has 12 years of experience as a Principal Security Engineer at nCircle Network Security. The crypto receives support from seasoned crypto advisors Leo Wang, Founding Partner of PreAngel and Kevin Hsu, Founder of BlockVC.
How Does DxChain Token Work?
The platform is based on an architecture comprising of chains-on-chain, which involves one master chain with two side chains. The structure was created to address and solve the foremost issues related to data storage, computation, and privacy. Tackling these issues would otherwise be difficult to carry out at the same time with just one chain.
Lightning Network inspired the DxChain team for creating this structure by featuring a second layer payment protocol on their regular blockchain code. DxChain is also inspired by Hadoop, which is a famous centralized big data platform developed by The Apache Software Foundation.
The Master Chain on the DxChain platform is responsible for storing asset information and events by way of transactions, states, receipts, and contracts. It makes use of proof-of-work (PoW) to allow its users the highest level of stability and security.
Data Side Chain (DSC) and Computation Side Chain (CSC) are side chains with specific functions. DSC is responsible for storing metadata or non-asset information, and CSC is responsible for storing computing tasks. CSC is also used for recording matching processes of computation to ascertain whether a task can be completed or not.
What Are Current and Future Applications of DxChain Token?
DX is the native token of DxChain and is useful as a unit of exchange for storage, transactions, and computation. The token provides the reward mechanism for nodes while offering validation services or resources on the network. DX is initially going to be released as an ERC-20 token until the mainnet is launched.
The team is hoping for some serious ambitious plans shortly. DxChain has already partnered with Allan Zhang’s own company, Trustlook. The company produces AI-based cyber-security products for IoT and mobile devices to protect them against malware with enterprise users including Huawei, Oppo, and Qualcomm.
This is a significant partnership since Trustlook is responsible for providing the built-in virus scan engine for hundreds of millions of Huawei mobile phones. DxChain is planning to launch a Dapp to test the product in a real-world scenario. It would reward users effectively for sharing behavioral data that will help analyze partner companies.
Another major partnership of DxChain is with QuarkChain for providing storage functions and data computation. QuarkChain in return is hoping to assist the blockchain to improve data performance and chain computation on the network by using a technology called sharding. The creation of a shared ecosystem is also in the plans.
While everything looks rosy for this forthcoming blockchain platform, some major limitations, weaknesses, and threats could pose a risk to its growth. There are three core functions built into the same platform, which does not allow for the distribution of computing data markets.
The only way DX as a token can survive is if the team comes up with innovative solutions to tackle these problems.