Project overview

DxChain Network is a big data and machine learning network which is powered by a computing-centric blockchain with a native protocol token. It is based on a side chain architecture called “chains-on-chain structure”. Their master chain is in charge of maintaining transactions while their two side chains are in charge of computation and storage respectively.

In order to ensure the correctness of the computations, DxChain uses two mechanisms. The Verification Game Algorithm is designed as a system based on three roles (solver, verifier and judge) that can testify the correctness of a computation without using much computation power. Provable Data Computation (PDC) is a statistical framework to testify to the correctness of computation results with few copies of redundant computing.

DxChain Network has also integrated the big data platform Hadoop in its network in order to even further facilitate big data and machine learning.

 

Token model

The DxChain Network has its own native token, the DX token.

DXs have different functionalities in the DxChain ecosystem. First of all, they will serve as a secure and primary method of payment between participants in the network. Secondly, they will be used as an incentive for users to lend their resources to the network. Providers of computational and storage resources that are required for running various apps and transactions will be rewarded with DX tokens. Finally, miners will be rewarded with DX tokens based on the usefulness of work that they passively provide.

 

Whitepaper

The DxChain Network whitepaper is extremely extensive and very well structured. It covers in detail all the different functionalities and features of the DxChain Network as well as the interactions between the different actors. It also explains clearly the token model as well as the possible use cases of the platform.

 

Team

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

Wei Wang – Co-founder & Chief Scientist
Graduated from Columbia University, Wei was the Principal Scientist at AT&T research on blockchain technology and the Principal Scientist at Hortonworks research on big data and artificial intelligence.

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

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

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

Maizie Feng – Product & Community Manager
Former senior product manager at Tencent and Xunlei, with combined background and experience in product design, operation and community growth.

Chaowen Li – Public Relations
Influential writer with 9 years of experience in tech reporting and PR. Former chief writer of CBN Weekly and Bloomberg Businessweek China, and senior journalist of Jiemian in the Silicon Valley office.

Sunny He – Investor Relation & BD
Partner of CKCIC; Global account manager of China Telecom Americas; Columbia University MIA.

Claire Yu – Digital Marketing Manager
MFA in advertising at Academy of Art University, help build up and manage DxChain community with a fresh perspective and dedicated attitude.

Nicole Fan – Digital Marketing Intern
Graduated from University of Minnesota, conduct market research and help create, organize and distribute marketing material through different channels.

 

Roadmap

DxChain Roadmap

 

ICO terms

The public sale will begin either in late July or early August, depending on the KYC process.

Ticker: DX
Token type: ERC20
ICO Token Price: 1 DX = 0.0014 USD
Hardcap: 21,500,000 USD
Sold in private sale: 17,500,000 USD
Total Tokens: 100,000,000,000 DX
Available for Token Sale: 22%

DxChain has an ongoing Whitelist Scoring System where only the users with the most points are allowed to participate in the public sale. Users can earn points by passing the KYC, referring friends and following DxChain’s various social media accounts.

Token distribution

DxChain token

Community hype

Telegram: 57,319 members
Twitter: 28,120 followers
Reddit: 194 subscribers

 

Strengths

  • DxChain is the first project to apply blockchain specifically to data storage and computation
  • The chains-on-chain infrastructure will allow DxChain to easily scale to a high throughput of transactions

 

Red flags

  • The Proof-of-Spacetime consensus algorithm is new and has yet to be extensively tested
  • They have not disclosed how they plan to use the funds they will raise in the ICO
  • The token model doesn’t provide enough incentive for users to hold DXs, which will put a downward pressure on its value in the long run

 

DxChain Ratings

Team: 8.5/10

The team behind DxChain is impressive. They are very experienced in big data and system architecture as well as in entrepreneurship. They are also extremely well versed in blockchain technology.

Token Model: 2.5/10

The token model is quite weak. Their token is only used as a mean of payment within the ecosystem and as a mining reward. This doesn’t give an incentive for users to hold tokens.

Token Distribution: 6.2/10

Their token distribution is decent but the fact that only $4M will be raised through a public sale might lead to a more centralized token distribution than preferred.

State of the Project: 6/10

While the mainnet is only scheduled for Q1 2019, they have a precise roadmap with clear milestones, so it will be easy for investors and users to see if they are on track.

Market: 6.4/10

The big data market is huge, growing incredibly fast and can really benefit from the decentralization that blockchain offers. However, it is a very competitive sector and already filled with many companies fighting for market shares.

ICON score: 5.92/10

 

Conclusion

At ICON Partners, we think that this project is promising as it is the first one to focus on bringing big data to the blockchain. Their chains-on-chain architecture will allow their blockchain to easily scale to accommodate a higher volume of transactions. However, their token model is quite weak, giving no incentive to users to hold DXs. This will increase the volatility of the token and put a downward pressure on its price in the long run. Also, the fact that they are relatively far from the mainnet release is an issue. On the other hand, the team behind DxChain is very impressive so we have no doubt that will be able to deliver everything they mentioned in the whitepaper.

We encourage you to do your own research and come to your own conclusions when investing in an ICO. All the information in this review are either facts or ICON Partners’ opinions and should not be used as investment advice.

 

Links

Website
Whitepaper
Telegram
Twitter
Reddit

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This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations.