ICO Review: DxChain | Big Data Meets Blockchain

by birtanpublished on October 1, 2020

hey guys welcome back today I want to
review another ICO but first I want to
clarify that just like the rest of my
content besides interviews these ICO
videos are not sponsored content I'm
receiving no reimbursement from anyone
from making these videos and I wanted to
clarify because I have been getting
questions for a good reason it's totally
fair that you guys want to ask me but I
just want to make sure that everybody
knows that this is not paid for quick
shoutout to everyone who's been liking
subscribing and sharing my content you
guys are the best if you like my t-shirt
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my normal disclaimer this project is an
ICO so it's still very much in
development please always do your own
research as usual I am NOT a financial
advisor all investments have inherent
risk and my videos are for entertainment
purposes only don't forget to subscribe
to my channel I put out content pretty
frequently and I'd hate for you guys to
miss out let's get into it what is the X
chain D action is the world's first
decentralized big data and machine
learning network built on the blockchain
in other words DX chain aims to design a
platform to solve the problems of
computation of big data in a
decentralized manner in 2017 data
surpassed oil as being the most
sought-after commodity and because of
that it's honestly no surprise that the
importance of controlling your own data
has found its way into the blockchain
tech currently only big companies have
the capability to run these big data
tasks because not only can these
companies are for the very expensive
hardware but these companies also owned
most of the existing consumer data the X
chain is designed to serve as a data
trading platform to give power back to
the users so what's Big Data then it's
extremely large data sets that are
usually related to human behavior and
interactions nowadays almost every
action we take leaves a digital trail we
generate data whenever we go online when
we carry our smartphones around with us
when we communicate with our friends
through social media or chat
applications and when we shop the
majority of what we do leave some sort
of digital footprint and that footprint
is very valuable data the term big data
refers to the collection of all of this
data and our ability to have it analyzed
computationally to reveal patterns
trends and associations which give
people and businesses
over a wide range of areas alright let's
go over the team alan zhang is one of
the cofounders of DX chain he's an
expert in blockchain tech and network
security he has a BA in information
management and he's the founder and CEO
at Rus look AI cyber security and is a
self-proclaimed serial entrepreneur way
Wang is the co-founder and CTO he's an
MS from Columbia University and the
University of Pittsburgh he was the
principal scientist at AT&T and research
related to blockchain technology and
he's the principal scientist and
Hortonworks research on big data and
artificial intelligence James Lee is
also the co-founder he's experienced and
blockchain systems design and
architecture he was a tripwire principal
security architect with 10 plus years of
experience in network security overall
ok so up next to the details of the ICL
dam Sheena is running their ICO on the
etherium Network and will be ongoing
sometime this month which is in July the
team states their exchange listings will
be shortly after their ICO is completed
the funding goal is 17 point 2 million
30% of their total hundred billion token
supply will be available for the token
sale there'll be a one-year token lockup
for this IC o—- participants will
receive 25% of the token prior to it
being listed on an exchange 25 percent
three months after the listing and then
in increments of 25% every three months
until it's all distributed they have a
soft cap of 8,000 eath and a hard cap of
sixteen thousand eighth under the
technology the purpose of their DX token
is for utility and for fuel it will be
the fuel for the cost of transactions
storage and for using computational
power within the network it will also be
an incentivized reward for those users
for providing storage to the ecosystem
and giving computational power d'action
is combining the way Hadoop is solving
distributed storage of data within an
organization but on the blockchain let
me back up a little I just mentioned DX
chain is using concept similar to Hadoop
prior to making this video I'd never
heard of this before so I did a little
googling Hadoop is an open source
distributed framework that manages data
processing and storage for big data
applications it is currently at the
center of a growing ecosystem of Big
Data technologies and is used to support
the processing of data in an advanced
way including predictive analysis data
mining and machine learning applications
today it's the most widely used system
for providing data storage and
processing because it's a relatively
inexpensive off-the-shelf solution
opposed to the traditional expensive
systems the take away from this
explanation is that although it's
confusing director
it is the best way to handle big data
right now and DX chain wants to bring
that to the blockchain d'action has a
few components that make up the project
they will be utilizing a multi chain
structure the first which is their
master chain this stores asset
information such as States transactions
receipts and contracts it is in charge
of providing transaction related
operations while coordinating with the
other two chains this chain we utilize
proof-of-work as its consensus protocol
because it requires the highest level
security and stability next is the data
chain which is built on a peer-to-peer
file storage system and stores all of
the non asset data it is responsible for
providing and settling big data storage
handling privacy issues and providing
support to the computational chain it's
going to utilize proof of space-time or
post-2015 space-time this is consensus
protocol that allows the prover to
convince a verifier that he or she has
spent space-time as a resource this
would be defined as someone storing data
or using space over a period of time a
paper I found online defined POS T is
the trade-off between CPU work and
space-time compared to prefer work POS C
requires less energy to be used and the
difficulty can be increased by extending
the time period over which the data has
been stored without increasing
computational costs another project that
actually utilizes this consensus
protocol is file coin and the last major
component of DX chain is the computation
chain which supports specific computing
tasks on the DX chain virtual machine
unlike the hash mining of Bitcoin this
side chain is designed for useful work
to solve real-world business problems
and support the specific computing tasks
required by the DX chain ecosystem the
computation chains validation uses
something they call provable data
computation or PDC basically this allows
them to frequently efficiently and
securely verify that a storage server is
faithfully storing its clients
potentially very large outsource data so
how would the X chain work well a client
will assign a job to the master chain
which would then would be forwarded to
the computation chain the computation
chain will receive the data from the
data chain and that it has access to run
our required computation and execute the
tasks the computing chain will then
write the results into the data chain
and inform the master chain that the job
is complete all the participating nodes
will receive rewards for providing
computational power and storage power
what are some use cases in the medical
field research institutes and
pharmaceutical companies need patient
data to conduct research sharing patient
data is often challenging due to privacy
concerns making the research process
difficult and slow not to mention the
patient's typically don't benefit from
using their own data DX chain could
allow storage computation and the
exchange of the patient's data in a
secure and private way on the blockchain
and patients would also be compensated
for their data being utilized under
their partnerships so trust look AI
cyber security has said that they will
be using the X chain important to
mention that this company also belongs
to one of the cofounders of the X chain
as far as investors go they have a very
long list which I won't go through but
as you can see by the image next to me I
don't know which side is going to be on
it's pretty vast if you're interested in
reading more about that you can check it
out on their website who are their
competitors in the transaction space
they've a lot of competitors focus on
increasing transaction speeds such as
quark chain and zelicah to name the
bigger you know more newer ones in a
shared computing space they're up
against Gollum and anchor in the shared
storage space there battling foul coin
and storage the extremes advantage is to
tackle transaction storage and
computation simultaneously so the
blockchain technology can expand its
capabilities in big data and machine
learning and thereby providing more
values to businesses and consumers
what's coming up that we have to look
forward to well DX's test chain is still
in development process their ICO is
supposed to begin in August of this year
and by q3 of this year they're hoping to
launch their network beta final thoughts
although they have a lot of competitors
– instructure is innovative and unlike a
lot of the rest of the projects out
there it could be a breakthrough by
allowing block chains to have big data
and machine learning capabilities it's
also backed by a large amount of VCS who
will bring in more partnerships and
opportunities for DX chain that being
said they have a long road map
it's estimating that all the components
of the project will be live q4 2019 and
the company doesn't have other major
partnerships besides its co-founders
company I also think for the average
person this project in itself and the
white paper are a little heavy to get
through and it may be a deterrent for
the non tech savvy person that's not to
say that the project won't be successful
and that's also not to say that I'm tech
savvy but it will say it was a harder
project to review alright guys that
about wraps it up for me today thank you
for watching and thank you all for the
support as usual and I will see you all

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