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| https://qurrex.com/ |
The Qurrex platform was designed exclusively as a centralized cryptocurrency exchange system. The reason for this was related to the team’s background: having worked for over 10 years on the creation of various exchange and broker systems and products for the traditional markets, we inadvertently became adherents of this approach. However, research into distributed networks as part of delivering the current project led us to new approaches and tools for solving many of the problems that we had encountered over the course of recent years. Here we refer, first and foremost, to the need to increase liquidity of separate instruments, as well as to increase clients’ confidence in unregulated infrastructure providers.
The Qurrex multifunctional trading platform is a hybrid system that consists of:
• a centralized node, which is comparable in its effectiveness to modern, cutting edge traditional exchanges;
• client functionality that meets the demands of users of leading exchange and FX brokers;
• a blockchain network which, on the one hand resolves problems of secure storage and eliminates middlemen, and, on the other, provides the user with aggregated liquidity from all network nodes, including the centralized platform.
In reality, Qurrex is setting the industry standard in the crypto-economy for a universal cryptocurrency exchange – one which existing platforms will eventually achieve only after years of independent effort. The platform will become the first cryptocurrency exchange based on high performance architecture from the leading international trading platforms. Rather than respond to the market demand of “yesterday”, it is designed for the future – for the coming growth explosion in cryptocurrency trading.
Moreover, the project will become an important factor in the development of the crypto-economy, as it not only satisfies the demands and solves the problems of current users of existing exchange platforms, but also creates favorable conditions for a new wave of participants, those not currently represented in the crypto world. As a demo-model, we’ve prepared a test web version of the trade terminal which will serve as the interface for our exchange system.
The test version is able to reflect current quotations for key cryptocurrency pairs, provides trading and analytical capabilities, and supplies a newsfeed from various sources. At present, the client end of the service – the platform’s functionality for social trading and investment – is 60% operational. At the back end of the exchange system, the concept of delivering the CEX and DEX has been developed, and work has begun on separate sections of the system, for a readiness level of around 20%. By the start of February 2018, the order-matching module will be launched in test mode and presented for external load testing.
The outcome of our investigations was the understanding that, in order to create an effective exchange system and meet the demands of a wide circle of users, what is necessary is the harmonious merging of centralized and decentralized elements.
The main thing we understood was the fact that, within an infrastructure set up to handle various assets, the potential of the community behind the public blockchain networks must be taken into account, as it is precisely this community that is the
basis of the future crypto-economy.
In order to provide clients with user-friendly tools for executing operations and maximizing liquidity, we formulated our approach in the following way:
• The centralized exchange (CEX) will, in the long-term, remain the most effective solution in creating maximum possible liquidity across the majority of types of trading instruments;
• At the current time, it is only within a centralized infrastructure that effective creation of partial pre-deposit of funds is possible (the function of guaranteeing the fulfillment of obligations of the transaction party is always undertaken by the central link of the infrastructure) and this technology, in our view, will ultimately be introduced onto the cryptocurrency market;
• Decentralized exchanges (DEX) with high capacity remain, unfortunately, an unattainable goal in the medium term, whereas clients need a high-quality service now.
Given this, we believe that:
• Eventually, obstacles to the creation of a high-capacity DEX will be overcome
• DEX is an indispensable tool for creating liquidity in low-liquidity instruments such as tokens issued as part of an ICO or the numerous altcoins;
• DEX is a natural protection from those technical problems which inevitably arise from time to time in the central node of any centralized system;
• DEX is the best understood and most transparent mechanism for lowering the risks around the function of the infrastructure’s central link, albeit it at the cost of other product qualities (operation processing time, for example).
This approach lies at the heart of our system and inspires us to simultaneously create a successful, advanced, and effective centralized project, and to move forward, heeding the call to build and utilize decentralized systems.
Qurrex hybrid exchange feature: CEX one of the DEX nodes.
The establishment of a combined order queue based on data received from all system nodes, (both centralized and decentralized nodes).
Route the combined queue to the Blockchain Technology network.
Identify the system nodes in which the best instrument prices are located and which are required to deliver orders / transactions sent by the client, (when possible to make a deal with the price specified in the order).
Includes orders at Blockchain Technology. Receive information about matching results.
Note :
An order that can not be fulfilled at that time is displayed, due to the absence of a corresponding price on the entire Hybrid exchange system, listed on the node where it originated. Essentially, any node of a hybrid exchange will provide users with the Best Execution service, mandatory for brokerage firms in most countries with developed financial markets.
Problems to solve with QURREX Hybrid Crypto Exchange.
The problem with CEX is this :
1). Lack of protection and inadequate security level (fraud, Cryptocurrency theft from wallet, personal data theft).
2). Liquidity is not sufficient, especially in instruments with low liquidity.
3). Lack of API is fast and friendly connection.
4). Low capacity and substantial delay in completing operations in the supply system.
5). Lack of formal transparency, in particular, public protocols and links to interact with clients in the event of any problems.
6). Impaired function due to limited productivity; insufficient performance for peak trading activity periods.
7) .Compliance with clear business practices rules.
8) .Malfunctions as a result of excessive traffic.
The interface, (both graphical and application programming) provides only limited analysis and trade functions, for example :
Lack of mobile apps.
Incomplete tool set for graphical and technical analysis.
The interface is not easy to use.
User interface that can not be adjusted properly.
Slow down the process of depositing / withdrawing, limited withdrawal / withdrawal means.
Unsatisfactory customer service levels, such as long response time from technical support services, lack of phone support.
The choice of narrow trading instruments, the lack of new "hot" / Cryptocurrency and Token.
While the DEX problem is this :
Safe deposit of fund / crypto assets.
Vulnerability of the central / intermediary link.
Looking for a counter-counter interested in an agreement.
Complete operating transparency.
Cross-block exchanges, (eg Bitcoin for Monero).
Volume of supply / demand with the same requirements for all market participants.
Conclusion :
Therefore, combining CEX and DEX into a single Hybrid exchange will make things easier and more reliable for Crypto merchants. QURREX will be the optimal solution that every veteran, beginner trader and broker will use in the future. Positively, this will attract more clients as it will offer better stability and better service in terms of handling users.
- Token Symbol: QRX.
- Standard token: ERC20.
- Token Type: Utility.
- Total token supply: 70m.
- Total tokens on sale: 55m.
- Total token for pre-sale: 17m.
- State merge - Cayman Islands.
Token distribution
78,6% Crowdsale
3,6% PreICO investors
7,1% Team
6,4% Loyalti program
4,3% Bounty fund
Crowdsale fund distribution
13% Team
11,1% Operation cost
29,5% CEX
7,7% DEX
12,9% Liquidity program
4% Legal
10,3% Marketing
11,5% Interface
ROADMAP
2001-2014: Legacy Product
NOV 2017: Qurrex prototype
FEB-APR 2018: Token-sale
JUN 2019: Qurrex trading functional
SEP 2019: Social trading services
DEC 2019: Hybrid platform
Information Details:
Website: https://qurrex.com/
Telegram: https://t.me/qurrex_chat
Facebook: https://www.facebook.com/qurrex/
Twitter: https://twitter.com/qurrex
Bitcointalk Thread: https://bitcointalk.org/index.php?topic=2899211
Bitcointalk Name: Th3-K1n6
Bitcointalk Url: https://bitcointalk.org/index.php?action=profile;u=1715436
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