DAEX

by DAEX Foundation

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Tendermint

by Interchain Foundation

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IPFS

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DAEX

by DAEX Foundation

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Tendermint

by Interchain Foundation

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IPFS

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What problem does this service solve?

DAEX's decentralized clearing system increases the security of centralized crypto exchanges.The Tendermint consensus algorithm secures transactions in the Cosmos ecosystem.IPFS is a decentralized alternative to HTTP that can be used to make recording blockchain transactions more efficient.

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Company Description

DAEX is developing a decentralized cryptocurrency clearing ecosystem that will improve the underlying infrastructure of centralized exchanges. DAEX aims to solve many of the security and privacy issues related to centralized cryptocurrency exchanges by providing a secure digital asset storage service for developers and trading platforms. Their ecosystem is powered by the Ethereum-based DAX token.

Tendermint is a consensus algorithm that was created by a company called All in Bits. The open source algorithm is Byzantine Fault-Tolerant and uses an authenticated encryption system to secure transactions. The Tendermint consensus mechanism was developed in 2014 for the Cosmos Network. The Interchain Foundation, which is developing the Cosmos Network, continues to employ All in Bits to support Cosmos.

The Interplanetary File System (IPFS) is a decentralized network protocol for sharing hypermedia in a distributed file system. IPFS can be used to link blockchain transactions This effectively timestamps and secures the content, without having to put the data on the chain itself. Filecoin, an IPFS-based decentralized storage cloud, is closely related with the IPFS protocol, and provides the incentive system.

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