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 Sale & Economics
- Project website: https://www.dxchain.com/
- Project whitepaper: https://www.dxchain.com/static/assets/docs/DxChain-Whitepaper.pdf
- Token sale start time: TBA
- Ticker: DX
- Token type: ERC20
- Total hard cap: $21,500,000
- Total supply: 100,000,000,000 DX
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
- 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
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.
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