What Is DxChain Token (DX)?
DxChain is a revolutionary blockchain project aiming to provide a decentralized data network for artificial intelligence (AI) researchers and big data companies. It relies on provable data possession between the users on the network and is built for sustainability and security.
The DxChain Token (DX) is the cryptocurrency of the DxChain network, a decentralized blockchain storage solution for businesses. The DxChain token powers the network, allowing users to stake it and secure the network.
The DxChain network allows more than just decentralizing the way people can store their files. It also facilitates the exchange of huge sets of confidential information. The blockchain that runs in the background makes this data immutable and inherently secure thanks to privacy-centered protocols. Thus, it is the ideal environment for scientists to conduct large-scale testing for machine learning and AI.
The network relies on a Proof-of-Spacetime consensus which allows for an extremely fast network that consumes very little power. Additionally, this allows users to assess whether they have used any of the storage resources of the network.
DxChain Token Price History
Because the DxChain network was released amidst the 2019 bear market, the DxChain token price didn’t pick up right away. For the first year of its market presence, the DX price chart seemed to show mainly horizontal price action, without many changes.
Once the mainnet was released in 2020, theDxChain token price in USD shot up considerably and registered new heights shortly after. It also followed the rest of the market during the 2021 bull run. However, after the market crash in May 2021, the DxChain Token to USD exchange rate doesn’t seem to have followed the rest of the market. Now DX is struggling to show any positive trend.
Circulation of DxChain Token
Token supply and circulation are essential factors when evaluating cryptocurrencies. The lower the total supply is, the higher the scarcity and value of the DX token. To this day, a total of 100 billion DX tokens have been minted by the team. 50 billion of those tokens have been released into circulation, with half of them being distributed during the public sale (ICO).
The team hasn’t communicated a maximum supply for the tokens, and the inflation rate or the release rate for the rest of the 50 billion minted tokens is still unknown.
Ways of Buying DX
To convert DxChain Token to USD, you will need to use one of the few exchanges that offer this trading pair. For other cryptocurrency pairs, you might find the DxChain token exchange procedure quite challenging, as this token isn’t very widespread. If you want to convert DX, you should use Godex as a reliable, anonymous, and versatile solution.
On Godex, you will be able to convert DX for 300 different cryptocurrencies, including BTC, ETH, and many other popular tokens and coins. What’s more, the DX converter on our DX exchange page will allow you to swap DX tokens seamlessly, without the need to register an account.