SHANGHAI, July 12, 2018 /PRNewswire/ -- The Global DAEX Foundation (www.daex.io) are the creators of DAEX (Digital Assets Exchange), which is an open and distributed clearing ecosystem for cryptocurrency exchanges. The goal of the project is to alleviate the responsibilities of centralized exchanges by providing them with identity authentication, asset registration, asset clearing and asset settlement services. Centralized exchanges who are part of the ecosystem will remain in control of matching trades, although the aforementioned services will be provided by DAEX using distributed ledger technology and smart contracts. With a wide range of products, the ecosystem will provide several benefits to all participants (exchanges and traders) involved.

The DAEX Clearing Chain, also known as the DAEX Blockchain, will be the core product of the ecosystem. The Clearing Chain will serve as a means to store transaction data for multiple types of digital assets. It will also feature a cross chain structure that supports connections to the Identity Chain and Settlement Chain. The DAEX Wallet (available for both enterprises and user level customers) is a multi-asset wallet that will include a multi-segment private key mechanism.

The team behind the Global DAEX Foundation includes several experts in both financial and blockchain fields. The community activity of DAEX mainly takes place in WeChat (a Chinese messaging application that is widely used across Mainland China). There are more than 15 thousand users across the multiple DAEX WeChat groups, and more than 12 thousand users in the Chinese language Telegram group. For the English speaking community, the DAEX official Twitter account (https://twitter.com/daexblockchain) has more than 11 thousand followers.

Regarding the roadmap and upcoming plans for DAEX, the test net is set to be live in Q4 of 2018 and the main net is scheduled to be ready in Q2 of 2019. The technical whitepaper will be released in several versions throughout 2018. See below for the scheduled release dates and topics each version will cover:

Q2 2018:  Overall design of the clearing ecosystem, including the ASPoS consensus mechanism

Q3 2018: Clearing Value Factor (CVF) and wallet solution based on a trusted computing environment

Q4 2018: DAEX Fund report, token plan (clearing-as-mining), node deployment and governance model