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Author Topic: DxChain ICO Review  (Read 872 times)

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DxChain ICO Review
« on: August 24, 2018, 03:29:21 AM »



DxChain ICO Review

The DxChain ICO and DX token sale are raising funds toward a decentralized platform for big data, powered by a compute-centric blockchain protocol. Through a purpose-built, multi-chain architecture, DxChain provides a comprehensive solution for data acquisition, computation and storage, with an emphasis on privacy and security.

The platform integrates components of Hadoop, such as high-level language support for data analysis and a framework for machine learning, combining proven data processing tools with the benefits of blockchain.

DxChain ICO Value Proposition
DxChain proposes a decentralized platform for big data as a solution to the issue of data monopolization by large enterprises. Huge volumes of data and services are currently controlled by only a handful of corporations. For smaller entities, accessing and analyzing large data sets holds enormous potential but remains both technologically and financially prohibitive. DxChain is designed to provide a decentralized solution to this issue with a multi-chain architecture that handles data acquisition, computation and storage on a single network.

As part of the network infrastructure, DxChain will incorporate decentralized components of Hadoop, a leading open-source utility suite for distributed computing. A tokenized reward mechanism for sharing data will offer access to untapped sources of data, incorporating features such as anonymous sharing and encryption to reinforce user security on the network.

DxChain envisages a myriad of use cases for the platform, including a data exchange market, analytics service network, and foundation for the development of dApps.   

DxChain incorporates a “chains-on-chain” architecture comprised of a master chain and two side chains; namely, the Computing Side Chain (CSC) and Data Side Chain (DSC). The CSC and DSC communicate with the master chain via smart contracts. Even though the chains are interconnected through smart contracts and microservices, each side chain operates its own consensus mechanism. Below is a diagram of the network.

 

The Master Chain serves as an Ethereum-compatible, immutable ledger to record asset-related transactions on the network. After data processing tasks are completed, transaction, state and receipt information is stored on the Master Chain via an accounts-based model.   

The Data Side Chain (DSC) facilitates the transfer and storage of data via a decentralized p2p network such as IPFS. Data is broken down into pieces and stored on the p2p file network, while corresponding metadata and a hash of each fragment are recorded on chain. A virtual logic layer called the DxChain Storage Layer sits between the DSC and p2p distributed storage to facilitate the distribution of storage tasks, data transfer and verification. The DSC utilizes a Proof of Spacetime (PoST) consensus mechanism.

The Computing Side Chain (CSC) provides an environment for organizing and distributing parallel computing tasks between users and nodes on the network. When a user makes a computation request, it is propagated through the network to miners. Upon completion, the result is sent to the CSC for verification. Verification relies on one of two mechanisms depending on the task: verification game (between nodes who stake tokens) or Provable Data Computation (PDS). The CSC then saves a time-bound log of the task and results. 

DX is the native protocol token of DxChain, serving as a unit of exchange for transactions, storage and computation. DX provides the reward mechanism for nodes that offer resources or validation services on the network. DX will initially be released as an ERC20 token until launch of the mainnet.

DxChain ICO Team
The DxChain team is comprised of 12 members. Profiles of the 3 Co-founders are provided below. Complete information on the whole team and advisory board is available here.

Allan Zhang (Co-founder) has over a decade of experience in cybersecurity. Allan spent the first 4 years of his career as a Software Engineer at Lucent Technology. For the following 8 years, Allan served as a Senior Security and Vulnerability Research Engineer with nCircle, TELUS, and Palo Alto Networks, before moving on to found his own startup. In 2013, Allan established Trustlook AI Cybersecurity, launching a line of malware threat protection products for mobile and IoT devices. He has served as the CEO of Trustlook for the past 5 years.

Wei Wang (Co-founder and Chief Scientist) is the former Principal Scientist for Blockchain Database Research at AT&T, where he spent 1.5 years focused on integration of privacy preserving computation and deep learning with blockchain. Prior to joining AT&T, Wei Wang spent 2 years as the Principal Scientist of Big Data and Parallel Computing at Hortonworks, building and designing a big data platform based on Hadoop. Wei Wang has an additional 2 years of experience as a Data Scientist with Apixio and is a certified Apache Hadoop 2.0 Developer. He holds an MS from Columbia University.

James Li (Co-Founder) spent over a year as the Manager of the Mobile Department at Trustlook before joining DxChain full time. He has over 12 years of experience at nCircle Network Security as a Principal Security Engineer. Prior to that, James spent 5 years as a Senior Software Developer at Lucent Technologies.   

On the advising end, DxChain is receiving support from seasoned blockchain advisors Kevin Hsu, Founder of BlockVC, and Leo Wang, Founding Partner of PreAngel.

DxChain ICO Strengths and Opportunities
DxChain recently debuted a demo of their Alpha MVP, called Rocky Mountains, which can be viewed here. As an initial MVP demo of DxChain, Rocky Mountains demonstrates storage and retrieval of files on a 5 node network. The demo also introduces the mining and storage functionality of nodes, and the successful upload and download of a test file.

With a testnet release scheduled for Q3 2018 and mainnet in Q1 2019, the debut of the Alpha MVP before the public sale provides an important indication of the team’s ability to follow through on their commitments.

The first enterprise partnership that will leverage DxChain is with Trustlook, Allan Zhang’s own company. Founded in 2013, Trustlook produces AI-based cybersecurity products to protect against malware. Enterprise users of Trustlook products include Huawei, Oppo and Qualcomm. The partnership is significant in that Trustlook provides the built-in virus scan engine for Huawei mobile phones currently in use on hundreds of millions of devices. A cursory glance at Google Play shows beyond the built-in engine on Huawei devices, Trustlook’s mobile security app has 10 million+ installs.

To test the product in a real use case scenario, DxChain plan to launch a dApp via Trustlook rewarding users for sharing behavioral data, which will in turn be analyzed and utilized by partner companies. The partnership with Trustlook provides a channel to streamline acquisition of users via an existing, successful product- a crucial element most competing projects lack.

DxChain has also established a partnership with QuarkChain. DxChain plan to provide data computation and storage functions to QuarkChain. In turn, QuarkChain will assist with improving the performance of the data and computation chains on the DxChain network through sharding. The two projects also plan to collaborate on building a shared ecosystem of partners and users.

Contribution from the QuarkChain team toward development of DxChain represents another positive indicator for the tech progress, as the high-throughput capacity of QuarkChain has already been successfully demonstrated and independently verified.

DxChain ICO Weaknesses and Threats
With three separate core functions built into one platform, DxChain faces competition in the transaction, distributed computing and data storage markets. The distributed computing space is rife with contenders such as Golem, iExec, and Sonm.

Decentralized file storage presents a similar situation; Filecoin, Storj and Arweave represent just a few of the many players vying for dominance in the space.

In the protocol realm, the partnership with QuarkChain is highly strategic, as DxChain will benefit from the success of a project that would otherwise make for more competition.

While the project is up against some of the biggest players in the decentralized computing and storage markets, the value proposition of a comprehensive big data platform could prove crucial to adoption. DxChain offers a full suite of data processing features that would otherwise require the use of disparate blockchains. Leveraging this factor toward the goal of user adoption will be vital for the long-term success of the project.

Targeting adoption from the individual up to the enterprise, the success of the DxChain ICO will also rely heavily on a go-to-market strategy involving partnerships beyond Co-founder Allan Zhang’s own company. Building a thriving and sustainable ecosystem from the ground up will ultimately depend on a strong user base at both the supply and demand ends. We will be closely monitoring progress indicators to this effect as the project progresses.

The Verdict on the DxChain ICO
The DxChain ICO offers an all-in-one, decentralized platform that targets three areas where the big data industry is ripe for disruption.

The novel concept, solid track record of the team and timely release of the Alpha MVP before the public sale make the DxChain ICO a standout project.



Project Name: DxChain

Website: https://www.dxchain.com/

White Paper: https://docsend.com/view/8w3fman

Crowdsale Hard Cap: $21.5 Million

Total Supply: 100,000,000,000

Token Distribution: 22% to investors, 48% to ecosystem, mining and community, 10% marketing and business partners, 10% to team, 10% to foundation

Price per Token: 1 DX = $0.0014

Maximum Market Cap (at crowdsale price): $97 Million



SOURCE :  https://cryptobriefing.com/dxchain-ico-review-dx-token-analysis/

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DxChain ICO Review
« on: August 24, 2018, 03:29:21 AM »

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