DxChain (DX) Blockchain - ICO Review, Rating and Details of DxChain ICO (Token Sale) - Rating: Not Rated

DxChain is a big data and machine learning network powered by a computing-centric blockchain with a native protocol token (DX). With several major innovations, especially the revolutionary “Chains-on-chain” architecture design, DxChain provides a comprehensive solution for running machine learning algorithms and businesses intelligence on big data and keeping data privacy with security.

Problems & Solutions

Blockchain is an undeniably ingenious technological invention at the heart of Bitcoin and other cryptocurrencies. It is the brainchild of the person or group of people known by the pseudonym Satoshi Nakamoto.

A blockchain is a form of digitised and decentralised public ledger; it is used in all cryptocurrency transactions. The distributed ledger is a type of database that is shared, replicated and synchronised among the members of a network. It records the transactions, such as the exchange of assets or data, among the participants in the network. Since the Bitcoin network started on January 2009, many other cryptocurrencies have emerged. The most popular consensus protocols are still based on the idea from Nakamoto either Proof of Work (PoW) or Proof of Stake (PoS). However, the consensusbased protocol by Nakamoto uses a huge amount of computational power to maintain the blockchain itself but does not provide useful work for the community.

Proof of Useful Work (uPoW) has been proposed to utilise this computational power. However, there are only a few cryptocurrencies that really use uPoW. Unfortunately, there are no existing solutions in the market to provide a decentralised parallel-computing environment that supports big data and machine learning.

Functionally, the entire system is designed as a platform to provide big data and machine learning related computation services with the support of decentralized data storage services. Database query and business intelligence tasks are performed for data that could not be owned by any commercial company but can be traded and stored on the DxChain Network. This platform is designed to connect personal computers, as well as specifically designed miner machines, to potentially facilitate easier data computation at a lower cost.

DxChain Network provides two fundamental capabilities: computation and storage. Currently, only big companies have the capability to run big data tasks, because not only can these companies afford expensive hardware but these companies also own most of the existing consumer data. If third parties can sell navigation data, combined with other commercial data, then advertising campaigns will be more accurate and customised. Most importantly, big companies like Google and Facebook will not monopolise the usage of these data. This is the dream of decentralisation. The DxChain Network is designed to serve as a data trading platform for users who want to sell their data. Big data and machine learning computation is intended to make the use of data easier and more flexible.

Features & Highlights

Four major innovations make DxChain stand out from other blockchain projects and existing big data services:

  • PDC (Provable Data Computacion): A new decentralized computing framework to introduce the Provable Data Computing and verification game.

  • Chains-on-chain Architecture: A new chains-on-chain design to orchestrate a master chain and two side chains - data side chain and computing side chain.

  • Migrate the Hadoop ecosystem to a decentralized environment: Incorporate Hadoop to DxChain to facilitate big data and machine learning.

  • Support business data exchange and analytics: Flexible and powerful DxChain-based system architecture, dedicatedly designed to support most business data exchange and data analytics requirements.

Token Utility & Use Cases

The native digital cryptographically-secured utility token of the DxChain Network (DX) is a major component of the ecosystem on the DxChain Network, and is designed to be used solely as the primary token on the network. DX will initially be issued by the Distributor as ERC-20 standard compliant digital tokens on the Ethereum blockchain, and these will be migrated to tokens on the native blockchain when the same is eventually launched.

DX is a non-refundable functional utility token which will be used as the unit of exchange between participants on the DxChain Network. The goal of introducing DX is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on the DxChain Network.

DX is required as virtual crypto “fuel” for using certain designed functions on the DxChain Network, providing the economic incentives which will be consumed to encourage participants to contribute and maintain the ecosystem on the DxChain Network. Computational and storage resources are required for running various applications and executing transactions on the DxChain Network, as well as the validation and verification of additional blocks / information on the blockchain, thus providers of these services / resources would require payment for the consumption of these resources (i.e. ”mining” on the DxChain Network) to maintain network integrity; accordingly DX will be used as the unit of exchange to quantify and pay the costs of the consumed computational resources. DX is an integral and indispensable part of the DxChain Network, because without DX, there would be no incentive for users to expend resources to participate in activities or provide services for the benefit of the entire ecosystem on the DxChain Network. Users of the DxChain Network and/or holders of DX which did not actively participate will not receive any DX incentives.

Roadmap & Updates

  • 2017
    • Identified key techniques and components
    • Researched on big data storage and computation
    • Consensus techniques for blockchain
  • 2018 Q1
    • Released white paper
    • Finished the design and prototype of key technologies
  • 2018 Q2
    • Minimum Viable Product network launch
  • 2018 Q3
    • Test network beta launch
  • 2018 Q4
    • Test network launch
    • API/SDK/library beta launch
  • 2019 Q1
    • Testnet 2.0 launch
    • Support smart contract
    • Support solidarity based economy
    • Build the programming interface between storage and blockchain system
  • 2019 Q2
    • Testnet 3.0
    • Large-scale storage system launch
  • 2019 Q3
    • Mainnet 1.0 Beta
    • Improve and test the Mainnet security, stability, reliability
    • Ecosystem support

Team Members

  • Allan Zhang, Co-founder, Expert in blockchain and network security. Founder of Trustlook and a serial entrepreneur. Linkedin.

  • James Li, Co-founder, Experienced in blockchain system design and architecture. Tripwire principal security architect. 10+ years experience of network security. Linkedin.

  • Tony Wu, Investor Relationship, Managing Partner of Sparkland Capital. 10+ years experience of Investment Bank Global Markets Sales&Trading. Linkedin.

  • Xiaofei Liu, Blockchain Engineer, Master’s degree from Zhejiang University. Former senior software engineer at Alibaba. Has a wealth of experience in concurrent system and consensus mechanism in the blockchain. Linkedin.

  • Taosheng Shi, Blockchain Engineer, Former principal system architect and innovation manager at NOKIA, with 10+ years experience of distributed system research and development. Linkedin.

  • Li Lu, Blockchain Researcher, Ph.D in distributed systems at University of Rochester. 10+ years experience in distributed systems and big data. Hadoop PMC(Project Management Committee) member. Linkedin.

  • Jacky Wang, Blockchain Engineer, Bachelor’s degree from Fudan University and Master’s degree from University of Arizona. Dedicated in next generation blockchain infrastructure and distributed storage system. Linkedin.

  • Eric Wang, Full Stack Engineer, Former Software Engineer at Google. Experienced with full stack web app development and AI domain knowledge. Linkedin.

  • Manxiang Zhang, Blockchain Back End Developer, Graduated from San Jose State University, has a keen interest in blockchain technology, served as an instructor for related courses several times. Assist the DxChain team in the development of distributed storage systems. Linkedin.

  • Xiang Zhang, Blockchain Engineer, Master’s degree from East China Jiaotong University, previously worked at Meitu Blockchain. Focused on the fundamental blockchain technology. Work on DxChain’s consensus algorithm and data storage module optimization. Linkedin.

  • Xu Huang, Blockchain Developer, Experienced in research and development of multiple blockchain projects. will in charge of the Smart Contract and File Contract module, promote DxChain’s technical realization and landing in the business field. Linkedin.

  • Canshi Wei, Software Developer Intern, Junior year student from Rensselaer Polytechnic Institute, completed two blockchain projects independently. Bring DxChain more innovative thinking and energy. Linkedin.

Partnership Overview

  • Node Capital - Node Capital is a venture capital company focusing on blockchain industry. It is also one of the world’s earliest professional investment institutions of blockchain industry layouts. Node Capital aims to connection every node of blockchain industry by project investment and cooperation, thus building industry ecosystem, and promote healthy and stable development of blockchain industry. So far, Node Capital has invested many projects of blockchain industry, such as news information, digital asset transactions, storage, technology development and application. Including enterprises such as Huobi, Coldlar, Bocheninc, fengwo, Jinse Finance , Lianshang Technology, Yulian, Qukuai Leida.

  • LongLing Capital - LongLing investment is an equity investment institution founded by the famous angel investor cai Wensheng. It aims to help more innovation and entrepreneurship and provide strong support for technological innovation entrepreneurs. LongLing investment mainly focuses on the investment direction of the internet and TMT fields. The main investment stages are: seed round, angel round and a round. The B round will selectively follow the investment, and at the same time, it has a clear exit plan. Pre-IPO or later mature projects.

  • Signum Capital - They are a Singapore-based firm that exclusively consults in Blockchain-enabled companies. They aims to realize the future of Blockchain economy by consulting in game changing projects and companies. They participate in Pre-sale stages of Token Generation Events and Equity investments.

  • Fenbushi Capital - Founded in 2015, Fenbushi Capital is the first China-based venture capital firm that exclusively invests in Blockchain-enabled companies. Their mission is to accelerate the inevitable future of Blockchain economy by supporting as many companies as possible. They strongly believe Blockchain technology will play an important role bringing much more transparency, efficiency, and robustness into the global economy. With their experienced partners in both traditional finance and the blockchain technology and many startup companies, they hope to bring this vision into fruition.

  • Badwater Capital - They invest in and advise blockchain teams they think are a little crazier than the rest. Some of the stuff they're involved with or early supporters of: Vechain, NEX, Red Pulse, APEX, Mainframe, IHT, Hydro, Plair, Fluence, DXChain, MoonX, Dreamteam to name a few.

  • One Block Capital - One Block Capital is a leading blockchain investment & advisory group based in Asia. One Block firmly believes in the transformational nature of the blockchain in (i) bringing about a transparent & more effective financial system; and (ii) pushing forward a decentralized, trustless, and more equitable Internet.

  • BlockVC - BlockVC, also called BlockVanguard Capital, is a leading blockchain investment and advisory firm. It has strategic alliances in Singapore, London and San Francisco sharing best thinking and resources in order to deliver sustainable value. Vision: Bring blockchain into mainstream. Positioning: The most professional investment banking institution in the blockchain field. BlockVC establishes the investment philosophy of “build linkage of primary and secondary market” in system and creates the proprietary investment matrix. The investment strategies BlockVC provides for the blockchain projects include infrastructure protocols, application protocols and financial services and etc. All the invested projects have global and profound impact. At the same time, BlockVC provides asset management and quantitative hedging investment strategies for the secondary market, meeting all the needs of investors and partners. At present, the core business of BlockVC includes asset management, VC investment, project incubation and consulting research. Asset Management. BlockVC provides comprehensive cryptocurrency transactions in secondary market, asset management and investment research services for the customers, also design and provide the best execution plan according to customer needs to achieve long-term stable preservation and appreciation of customer’s assets. 

  • Sparkland Capital - Sparkland Capital is an early-stage venture capital firm that invests in frontier technologies. With Asian-access capital and resources, we back global visionary entrepreneurs who move fast, think big, and are committed to reimagine the world. Connecting Silicon Valley and Asia, we leverage our deep networks to provide market intelligence, strategic advice and local relationships for founders to expand.

  • Fission Capital - Founded in 2018, Fission Capital is headquartered in Hong Kong. Combined with traditional insights into finance and application of advanced technology in blockchain through mining, incubating, and resource managing, Fission aims to build a number of leading world class investment projects and has had multiple successes in the blockchain industry.

  • MainNet Capital - MainNet Capital is a digital asset management firm in blockchain-based capital market. They are a Global Crypto Investment Fund House, focus mainly on outstanding blockchain projects.

  • Origin Capital - Origin’s principals invest in early-stage unquoted businesses and smaller quoted companies. They also have a small network of co-investors who participate in our unquoted transactions (but not quoted ones). Most of their portfolio companies have a technology focus, for example high-value manufacturing, life sciences, software and IT infrastructure, but they also have interests and experience in financial services, consumer products and media.

  • Torque Ventures - After working together for the last few years they brought their activities under one brand, Torque Ventures, in a unified effort to help the projects of the future. They have been on the forefront of the blockchain scene since 2017, supporting early stage projects around the world. They provide support to their portfolio projects from their first day of cooperation: media exposure, events and business development. They believe strongly in the principles of decentralization, which ultimately result in a positive social impact.

  • Block Rock Capital - From simple remittances to handling data and IoT infrastructure, new technologies will change the ways of our lives. By including unbanked in the global economy it will affect the world for good, making a remarkable social impact. Distributed networks and intersecting technology unleash the huge potential for humankind, global trust, automation, and big data. They are a strong, unique team of investors, software engineers, business developers, asset managers, and mathematicians, gathered to team up with entrepreneurs, partners and investors to benefit from this new wave of technology, adding value to the world.

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