QURREX: THE SOLUTION FOR CRYPTO EXCHANGE PROBLEMS

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As of the moment, there are so many cryptocurrency exchanges on the internet where we crypto traders can do our trading. Most of these exchanges recently facing some issues such as security, demand, unstable website, poor API, poor support and many more. In summary, current exchanges are providing poor services to their users.

These issues would like to be addressed by QURREX. It is a combination of CEX- centralized exchange) the most effective solution in creating maximum possible liquidity across the majority of types of trading instruments, and DEX -decentralized exchange an indispensable tool for creating liquidity in low-liquidity instruments such as tokens issued as part of an ICO or the numerous altcoins. It is a multi-functioning platform that has a centralized node, which is comparable in its effectiveness to modern, cutting-edge traditional exchanges. It has a client functionality that meets the demands of users of leading exchange and FX brokers. It is using the blockchain network which resolves the problems of secure storage and eliminates the man in the middle, and, on the other, provides the user with aggregated liquidity from all network nodes, including the centralized platform.

If we will compare to other exchange, qurrex exchange platform is achievable for some exchange with years of effort.

Features of the Hybrid exchange Qurrex: CEX one of the nodes of DEX

The formation of an aggregated order queue based on data received from all the system’s nodes (both the centralized and decentralized nodes).
Routing of the aggregated queue’s orders to the blockchain network.
Identification of the system nodes where the best instrument prices are located and to which it is necessary to send the order/transaction submitted by the client (when it is possible to make a deal at the price specified in the order).
Including the order in the blockchain. Receiving information on matching results.

Note: an order which cannot be fulfilled at the time it is displayed, due to the absence of a suitable price on the whole hybrid exchange system, is listed on the node on which it was originated. Essentially, each node of the hybrid exchange will provide the user with the Best Execution service, obligatory for broker companies in most countries with a developed financial market.

ISSUES TO BE SOLVE BY QURREX HYBRID CRYPTO EXCHANGE

The issue with CEX are these:

lack of protection and an insufficient level of security (fraud, theft of cryptocurrency from wallets, theft of personal data);
insufficient liquidity, especially across low-liquidity instruments;
lack of rapid, connection-friendly APIs;
low capacity and substantial delays in completing operations in the bidding system;
lack of formal transparency, in particular, public and liaison protocols for interacting with clients in the event of any issues arising;
malfunctioning due to limited productivity; insufficient performance for peak trading activity periods;
non-adherence to the obvious rules of business practice;
malfunctions as a result of excessive traffic;
interfaces (both graphical and application programming) provide only restricted analysis and trading functionality, for example:
lack of mobile applications,
incomplete set of tools for graphical and technical analysis,
non-user-friendly interface,
poorly customizable user interface;
slow processing of deposits/withdrawals, limited means of such deposits/withdrawals;
unsatisfactory level of customer servicing, for example long response time from technical support services, lack of telephone support;
narrow choice of trading instruments, lack of “hot”/new cryptocurrencies and tokens.

While DEX issues are these:

secure storage of funds/crypto assets;
the vulnerability of the central link/intermediary;
the search for a counteragent interested in a deal;
the transparency of completed operations;
cross-blockchain exchange (e.g. Bitcoin for Monero);
supply/demand volumes on equal terms for all market participants.

CONCLUSION:

Therefore, Combining CEX and DEX to a single Hybrid exchange will make more thing easier and reliable for a crypto trader. Qurrex will be the optimal solution that each and every veteran, newbie traders and brokers will use in the future. Positively, it will attract more clients as it will offer more stability and excellent service in terms of handling their users.

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