Dear KuCoin Users,
KuCoin is extremely proud to announce yet another great project coming to our trading platform. DxChain (DX) is now available on KuCoin. Supported trading pairs include DX/BTC and DX/ETH. More events for DxChain are coming as well, please stay tuned.
Please take note of the following schedule:
Deposits Effective Immediately
Trading: 18:00 Mar 22, 2019 (UTC+8)
Withdrawal: 18:00 Mar 24, 2019 (UTC+8)
Trading competition: 14:00 Mar 25, 2019 (UTC+8)
DxChain (DX) Company Summary
DxChain is the world’s first decentralized big data and machine learning network powered by a computing-centric blockchain. Through the revolutionary “Chains-on-chain” architecture, DxChain provides a comprehensive solution for data storage and computing problems, with an emphasis on privacy and security.
DxChain's core theory is to empower individual users to share his/her idle hard drives, data storage, and computing capacities to build a low-cost, secure, decentralized blockchain cloud network. In other words, DxChain will provide decentralized data storage and computing services, and build a data exchange marketplace powered by blockchain and machine learning technology.
DxChain released the Data-Side Chain Testnet in September 2018, marking the beginning of DxChain’s productization. In January 2019, the official launch of DxChain’s Testnet and SDK, showcased DxChain’s capability of implementing the distributed storage powered by blockchain. Moreover, the release of DxChainPy SDK and a demo Dapp – “DxBox” can provide engineers and researchers with blockchain solutions to data storage and file management in a distributed and secure system using DxChain’s SDK.
The technical description is written on an academic level with all aspects of the mathematical cryptography explained with formulas and charts. It traced back the technology implemented in the DxChain Network and explains the features of all technologies. The advanced level of writing can be explained by the top-notch technical skills of the team.
DxChain is a decentralized big data and machine learning network powered by a computing-centric public blockchain. The system is designed based on the “Chains-on-chain” architecture, includes:
Master chain is a distributed public ledger system with PoW consensus algorithm. It stores the transaction, state, and receipt, as well as the Ethereum compatible mart contracts. The master chain manages the two other sidechains with a two-way peg protocol.
Data storage side chain (DSC) is a p2p distributed file storage network. The data storage is based on creating and revising file contracts between renter and client in an untrusted environment.
The Proof of Spacetime (PoSt) and Provable Data Possession (PDP) are used as the consensus method to validate the provision of storage.
Computing side chain (CSC) supports the specific computing task on the virtual machines. It takes the technological advantages of Hadoop, which are repeatedly verified in the industry over the past decade, to combine with the unique mechanisms of blockchain to solve the distributed storage and computing. The Provable Data Computation (includes setting, solution, and proof three stages) and verification games are the two consensus algorithms to verify the computing result and in-deep computing steps.
Legal & Disclaimers Description
There is a separate document regarding the token sale terms and conditions can be found on DxChain website.
Roadmap & Milestones
- June 16, 2018 – Released the MVP
- September 30, 2018 – Released the Testnet Beta
- January 7, 2019 – Launched the Testnet, SDK and the first blockchain cloud storage product DxBox
Roadmap for 2019
- 2019 Q1 – Testnet 2.0: add smart contract
- 2019 Q2 – Mainnet Beta: improve large-scale storage system
- 2019 Q3 & Q4 – Mainnet 1.0 RC: Improve security, stability, reliability; add features for ecosystem support
Team And Advisors
Mr. Allan Zhang has a considerable history in cybersecurity. He has founded Trustlook and has been the CEO for the last 5 years. There are two co-founders who with a wealth of experience in software security and seem to be sharing the leading role. They are forming a perfect combination for the project.
Team and Advisors
- Allan Zhang – Co-founder
Allan is a serial entrepreneur and expert in blockchain and network security. He previously founded Trustlook, an information security company based on big data, and he was the initial engineer of Palo Alto Network.
- James Li – Co-founder
James has over 12 years of experience at nCircle Network Security as a Principal Security Engineer, with a wealth of experience in blockchain system design, architecture and network security. Prior to that, he spent 5 years as a Senior Software Developer at Lucent Technologies.
The DxChain team is composed of both experienced experts in algorithms and passionate young engineers graduated from leading Universities. There seem to be experts in each relevant field within the team. Highlights include an Innovation Manager for Nokia, a former Software engineer at Google, Product Manager at Tencent, Financial Director at Deutsche Bank & Calyon and a Ph.D. in computer science.
Team skills, experience and structure
The team is well spread in terms of skills available to them. There are software developers, blockchain experts, marketing people, and proven business developers. They are more than capable of developing a successful project.
Advisors background, experience and community feedback
The advisors include Yan Gong, a Ph.D. in strategic management, who is a Professor of Entrepreneurial Management Practice at CEIBS. Also, Kevin Hsu and Leo Wang are experienced investors with some blockchain history behind their backs. Kevin is the Founder of BlockV, whereas Mr. Wang is a founding partner of PreAngel and active angel investor. However, none of them have shared public information regarding being a part of the project.
Venture Capitals, Hedge funds and other Investors
More than 40 renowned VCs and investors have officially invested DxChain, and the major investors include, but is not limited to, Block VC, Signum Capital, PreAngel, Node Capital and JRR Crypto.
The project has established a relationship with Trustlook (which is the second company of Mr. Allan Zhang) and QuarkChain. DxChain has reached strategic partnerships with some other projects, including NKN, Celer Network, EtainPower, and DoctorChain.
No indications of market makers.
Tokens sold on the private sale are locked-in and will be unlocked at 3 stages for one year. When the token was listed on exchanges, one-quarter of all private-sale tokens were released immediately. Then, after 3 months and 6 months of listing, two quarters were unlocked and released respectively. The remaining one-quarter of the tokens will be unlocked after 1 year from listing.
Speed of selling out the ICO
The team has run both an airdrop and bounty campaign to gain popularity on Twitter, Telegram, and Youtube. The total tokens for the airdrop and bounty campaign is less than 0.01% of the total token supply.
Hard cap amount
Type of blockchain technology
This project is an advanced application platform with a couple of additions – a system for decentralized storage and decentralized process and analysis of data. The integration of AI components into the system is also an indicator that shows high potential for implementation of new technologies.
Tokens sold on Public Sale
The private sale was a complete success reaching the hard cap of USD 17,500,000. Later, the public sale raised around ETH 7,393.
The community seems to be generally positive towards the project.
Technology & Development
Product Development Progress
June 2018, DxChain released the MVP (Minimum Viable Product) called Rocky Mountains, demonstrated the feature of storage and retrieval of files on a 5-node network, as well as the mining and storage functionality of nodes, and the successful upload and download of a test file. The MVP showcased DxChain’s blockchain storage capability as promised.
September 2018, DxChain Data-Side-Chain Testnet Beta – Andes Mountains was launched, marked the beginning of DxChain’s productization. The data side chain enabled transactions, file storage, and product scaling. At the same time, the DxChain Testnet browser was released, allowed users to see DxChain products visually.
Jan 2019, the launch of DxChain’s Testnet and SDK, named Alps Mountains, showcased DxChain research and development team’s capability of implementing the distributed storage powered by blockchain. In this version, DxChain also delivered the DxChainPy SDK and a demo Dapp — DxBox. DxBox is a decentralized blockchain storage product powered by DxChain Testnet, provides secure & private cloud storage for users all over the world.
Currently, the DxChain team also provides free trials for KuCoin users and cryptocurrency supporters to try out the blockchain storage through using DxBox. That means you can have your own secure and decentralized blockchain storage at no cost, and experience the blockchain storage capability provided by DxChain!
Blockchain technology usage and innovation
One of the innovations in the system is a new decentralized computing framework, which introduces a Probable Data Computing and a verification game. Also, DxChain presents a design of a three-chain with two unique properties – Master chains and sidechains, plus immutable master-chain and elastic side-chains. The master chain maintains transactions, whereas the side chains are in charge of storage (Data Side Chain) and computation (Computing Side Chain).
Dependencies to third party platform or service
DxChain is currently dependent on the Ethereum network as the project's ICO campaign took place on the Ethereum network. The DX token is currently still ERC-20 type token and has not been swapped yet. The token will be swapped after the launch of the mainnet.
Blockchain advantage, effects on the market
The unique architecture and innovations of the platform are contributing considerably to the difference of DxChain compared to other systems. Therefore, the platform has a substantial chance of having a disruptive impact on the market.
Decentralization of the system
DxChain presents a 3-chain structure – one main chain and two side-chains. One of the two side-chains will be running parallel computing to solve the problem of general-purpose computing for big data. It will eventually achieve machine learning and provides BI support. The other side-chain is mainly responsible for providing big data storage. It also provides corresponding support for the computation chain. The main chain is responsible for providing transaction-related operations while coordinating these two sides chains. It is a fully decentralized system, controlled by smart contracts.
System security measures
DxChain uses a homomorphic encryption method, while the team also uses obfuscation techniques so that it is not possible to gather private information associated with individual users. MPC (multi-party computing) is also used as a system secure measurement technique, in order to preserve privacy computation. Proof of Spacetime (PoSt) validates whether the storage provider really stores the files. Finally, DX uses two mechanisms to ensure correctness of computation: verification game algorithm and Provable Data Computation (PDC).
We sincerely appreciate your support and understanding, we hope this information proves useful to all users and potential investors.
The KuCoin Team.