What Is the DxChain Token (DX)?

DxChain is a storage network that seeks to store valuable data. The whitepaper mentions that the core theory of DxChain is to influence individuals to share their unused hard drives or data storage capacities to establish secure, low-cost, and decentralized blockchain networks.

DxChain intends to build a storage network to address data storage issues of valuable data such as data security, data circulation, and data-rights confirmation. DxChain also attempts to address practical challenges in decentralized finance (DeFi), non-fungible tokens (NFTs), and other disciplines. The platform offers solutions to the problems concerning decentralized storage. DxChain also aims to create a platform for the DxChain ecosystem to grow, enabling people to transfer assets between other chains with scalability and security, and creating a public chain for all kinds of decentralized apps.

The platform also offers enterprise-level services of data storage that intends to effectively control the data storage cost in the DxChain 3.0 version. For enterprise-level services, DxChain has a blockchain system framework that helps to secure data. The platform has mining machines designed with the aim to store valuable information on DxChain.

The native token of the platform is DX. DX is an exchange part on the platform among users.

The token aims to offer economic incentives for different on-chain events, and users can also use it for managing fees. Users can contribute to the DxChain platform by voting DX token for receiving block rewards or becoming validators to uphold the stability and security of the network. A validator is a significant part of the DxChain platform, responsible for producing and verifying blocks on the chain. Moreover, users can also use DX tokens to partake in staking and various other events on the platform to enhance the consumption of DX in different applications.

History of DxChain Token (DX)

DxChain platform was created in 2018, with the release of its whitepaper in the same year. The team of DxChain comprises members from the field of the internet and blockchain. Having ten and above years of expertise in cyber security, James Li is the co-founder and CEO of the DxChain platform. Another cofounder is Allan Zhang, an expert in cyber security and blockchain.

The total supply of DX tokens is 100 billion, out of which 45 billion is the ecosystem pool.