Database X, popularly known as DBX.ONE, is a digital platform that operates on the blockchain to help people exchange and explore valuable data. The platform is the world’s first to utilize the D-DPoS consensus mechanism.
Database X is a brainchild of Tomi Wen, a renowned technical expert and a holder of BA Degree from Renmin University. Wen is a winner of several accolades and competitions such as the gold medal that he won in the CASTIC computer category. At DBX, Wen works together with a team of experts:
- Ben Fu—Technology
- Summer Xu, MBA—Operating and Marketing
- Trinity Wang, PhD—Director, developer ecosystem
- Alex Xiang—Product
- Alvin Zhou—Economic system
- Oceanus Zeng—Risk control
DBX.ONE draws a great deal of support from established investors such as Bing Li and Charles Xue, who are involved with big names in the crypto space such as the Huobi Group, Manzi Fund, and UT Starcom. According to their team page, DBX.ONE works with 16 investors and 2 consultants.
According to the information on their website, the DBX community consists of blockchain-based information. The community seeks to consolidate all online data on a decentralized platform that gives people equal chance to explore and exchange information. The team believes that a lot of data, which people often discard, is actually important. In fact, such data has some undiscovered demand, which users simply need to unveil. DBX enables all its participants to explore and exchange data through fair trading, at low cost, and with greater efficiency.
DBX Core Product
As a community of global asset data, DBX brings a new dimension of data sharing through its DBX Data Game. The game promotes data sharing through an incentive mechanism. DBX notes on its website:
“The atomized accurate data transactions promote the self-improvement of the data ecosystem.” In the end, the huge amount of data gathered ignites an exponential growth of important applications such as AI/IoT in the DBX ecosystem.
Data Contest is one of the components of the DBX world, in which participants in the community can commence a Data Contest to gather information through the DBX network. A contest operates on various nodes, which connects different ‘data islands’ into a continent. This eventually maximizes the value of data by bringing together a more inclusive package.
With the aid of smart contracts and the blockchain technology, participants can be able to utilize a decentralized and encrypted network for direct data transfer. By utilizing such technologies, there is no data leaking. There is guaranteed execution and protection of users’ rights.
Through the Data Contest, users are able to earn prizes and a DBXChain reward, which motivates them keep collecting data and participating. Members can equally earn income if they sell on the platform and benefit from their interactions. The Data Contest requests produce a precise and well-edited data glossary. Through the Keso search engine that operates upon this dictionary, users can search and explore specific data with precision. It’s also possible to trade by columns, rows, or individual pieces of data.
If you are interested in a contest, you can simply request a sample of the collected data to verify its quality. You can do this by simply running a specific DApp through the Trinity Nodes. Besides, the platform offers ultimate protection such that hackers cannot carry out any form of DBXChain Reward scam because of the trade-cost-verification. Any discovered dishonest nodes receive severe punishment to deter the act.
The Data Game DApp
Another important component of the DBX ecosystem, the Data Game DApp is a well-designed DApp, which enables users participating in Data Contests to choose to bring on the platform different kinds of data for which they can earn rewards or payment. The Data Game also enables a data requester to distribute tasks on the platform such as collecting certain types of images, sounds, videos or just a few paragraphs to fit a certain description. Through crowdsourcing members can collect data from various scattered sources and transform them into big data. Once lumped into one big data, all members can benefit from the data asset because they can share and authorize the big data for trade by contributing.
The Data Game DApp is downloadable and can give users permission to data contests from which they can win rewards. Members can also use the application to store and encrypt data assets through the distributed storage and the blockchain technology. The app already has millions of cooperators owing to its user-friendly and beneficial features. With the Data Game DApp, members can:
- Win DBX using RoDS
- Participate in data contests
- Encrypt storage
- Encrypt multiple DApps
The third component of the DBX platform, DBXChain enables developers to create various DApps, which they can use to explore the value of data. While it works with smart contracts and BaaS, DBXChain equally provides several different structured and unstructured data sets. It also provides instant trading network for data, a great number of data analysis DApps, and a highly efficient blockchain system that hosts up to 100,000 TPS. This eventually sets a solid foundation for the commercial product.
The DBX platform is growing. Since its inception in 2016, it has accomplished several milestones.
- Completion of its GitHub open-source code
- Launching the first DApp
- First financing
- DBX wallet launch
- Test net launch
The platform is currently engaged in follow-up events and propelling the project to the next level.