What does the company/project do?
DxChain Network is a blockchain platform dedicated to big data and machine learning. The DxChain Network makes use of provable data computing, to insure data integrity. The DxChain design can be classified as chains-on-chain with one master chain and two side chains. The platform supports smart contract functionality.
Potential usage scenarios for the DxChain Network include machine learning, data mining, data storage as well as video and music streaming. While allowing data analytics for enterprise users, DxChain uses obfuscation techniques in order to protect end user privacy.
How advanced is the project?
DxChain has completed the initial design research and released the white paper. It is currently working on the minimum viable product network launch. Additionally the team managed to secure a broad base of institutional investors. The launch of the main network for the main chain and the two side chains is planned for the fourth quarter of 2019.
What are the tokens used for and how can the token value appreciate?
The native DxChain protocol token is called DX. The token will initially be issued as an Ethereum ERC-20 token and once DxChain blockchain launched, converted into the native token. The DX token is an utility token that will be used as the unit of exchange on the DxChain Network. The token is required to purchase services such as computational and storage resources on the DxChain Network. The market capitalization of the token will increase with the usage of the DxChain Network.
? URL: https://www.dxchain.com/
? TG: https://t.me/dxchain
Team & Advisors
The DxChain team counts with three co-founders and another six members of the core team plus one intern.
Allan Zhang is a co-founder at DxChain. He has previous experience with blockchain technology and is a serial entrepreneur.
Wei Wang is a co-founder at DxChain and a previous principal scientist at AT&T for blockchain research. Before that he was engaged in research for big data and artificial intelligence for Hortonworks.
James Li is the third co-founder of DxChain. He has experience in blockchain design and security architecture.
DxChain counts with four advisors: Yan Gong, who is a professor at the Chinese Business School CEIBS, Kevin Hsu, who is the founder of BlockVC, a blockchain investment fund, Leo Wang, who is the founding partner of PreAngel, a Beijing-based investment fund, and Fan Zhang, who is a partner of Vancoin.
The DxChain Network offers two resources: computation and storage. For this reason the DxChain Network will come with two side chains. The Data Side Chain (DSC) will store all non-assets information. The Computing Side Chain (CSC) is designed to solve real world business problems. A master chain is responsible for managing the overall transaction and communicating with the two side chains through smart contracts. Each side chains uses a different consensus mechanism. The DSC uses Proof of Spacetime (PoSt) while the CSC uses Provable Data Computation (PDC).
The computation engine of the DxChain Network will be Hadoop. Apache Hadoop is an open source software that enables to use a network of many computers to solve computational problems.
DxChain wants to empower users to trade their own data, which then can be used by a third party to derive meaningful conclusions with machine learning and big data.
Strength and Opportunities
Using the blockchain for the services that DxChain wants to offer provides several advantages. The DxChain blockchain puts users in control which data they wish to share with enterprises and what price they want to charge for their collaboration. Furthermore, through blockchain the user data becomes immutable and is stored encrypted so that data breaches can be avoided.
The DxChain team managed to form a strong base of institutional investors. More than 20 funds have provided funding for the project. This will be helpful when it comes to establish credibility in the public token sale. The high number of investors is also a validation of the concept elaborated by DxChain in their white paper.
Weaknesses and Threats
DxChain will likely not be the only project operating in their niche. With Hypernet, a blockchain project that uses parallel computing, there exists a platform with a similar focus. In addition, the segment of providing distributed computational power via the blockchain is crowded and dominated by already established projects such as Golem. It will be a challenge for the DxChain team to sufficiently differentiate their service from other market players in order to provide sufficient value added for prospective customers.
The consensus mechanisms used by DxChain have not yet been tested in a real world setting. Despite the theoretical validation of the consensus mechanisms, there are risks associated with them. It is unclear how well these mechanisms will perform in practical circumstances and how smoothly the implementation will be.
DxChain is an interesting and highly specialized blockchain platform. The challenge for a successful ICO and later on market penetration will be to signal the novelty of the approach and the unique design features that differentiate them from other projects with a similar focus. The solid institutional investor base points towards a strong ICO performance in the short run.
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