Welcome to CryptoNewsICO, on this occasion I will discuss Qurrex Project. Why am I writing about the Qurrex Project?
Because I am sure you will need this project in your life very much, this project is very useful for us all around the world.
Yes please, you guys on the Qurrex project.
INTRODUCTION
Today, in the expanding crypto-economy, a paradoxical situation has developed. On the one hand, a total hegemony of the centralized exchanges has been established, with minimal basic client functionality and service – a position only strengthened by the growth in the volume of cryptocurrency trade and capitalization. On the other hand, the “teething troubles” of the centralized platforms, and the successful running of ICO projects linked to cryptocurrency trading, have led to consistent demands by the community for both an improvement in the quality of service of the centralized model of trading platforms and for the creation of effective decentralized cryptocurrency systems.
When an average customer chooses from cryptocurrency markets he pays attention to security and transparrency, but first and foremost, to liquidity. The liquidity is not a virtue in itself. The liquidity depends on the ability of marginal trading, transferring fiat money, providing friendly GUI.
There are a number of niche products on crypto market. Each of these projects does well in addressing one or two specific concerns. Still there is no universal solution to all the cryptocurrency market challenges.
These projects boast striking serviceability in one area or another. Such platforms, as a rule rarely possess the characteristics they boast, and have primitive key indicators, such as KPI, unsuitable for the “mature” markets.
At the same time, institutional players on the financial market, backed by hundreds of millions of clients and funds amounting into the trillions of dollars, understandably lack faith in the cryptocurrency trading market due to its lack of industry standards and transparency, its vulnerabilities, as well as the technological backwardness of trading platforms and their infrastructure when compared with the classic, regulated exchange systems.
The cryptomarket will reach the next stage of maturity only by adopting institutional traders.
In November 2016, a group of like-minded people began work on the first hybrid cryptocurrency exchange with an innovative platform for social trading and investing.
This group brought together experts with many years of experience in working on the currency markets, developers of trade terminals allowing both manual and automatic trading, and founders of successfully operating stock and futures exchanges – all of whom saw the significant potential in applying the best practices and industry standards of the traditional sector to realizing projects in the cryptocurrency sphere
ROADMAP
BACKGROUND AND SOLUTION OVERVIEW
Originally, 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 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.
TERMS AND DEFINITIONS
· Latency, Roundtrip Latency : waiting time, the time taken by the system to process a request, usually calculated as the time elapsed from the moment the request is registered at the gateway until the moment information about the said request being processed is issued.
· Capacity : the number of transactions that can be processed by the trading system module/node or the whole trading system in units of time, usually per second (tps - transactions per second).
· Digital asset : a cryptocurrency, token, or coin of the blockchain network. HFT (High-Frequency Trading): a form of algorithmic trading on the financial markets characterized by minimal time for position holding (over fractions of a second) taken by up-to-date equipment and special algorithms. This abbreviation also refers to a trader using such trading strategies(High-Frequency Trader).
· DVP (Delivery Versus Payment): an order of settlements that implies the presence of a sold/alienable asset (whether cryptocurrency or fiat) with the client when requesting a purchase or sale. After successful verification of the asset’s availability, the application may be submitted (if the required asset is absent, the application will be rejected). After this transaction occurs, simultaneous settlements between the parties take place.
· CEX: the centralized exchange
· DEX: the decentralized exchange Fiat,
· Fiat Currency: traditional cash or non-cash money of centralized issue and recognized by the global community.
PROBLEMS WITH THE CURRENT STAGE
The main failings of existing cryptocurrency exchanges communicated by the community, and which we plan to resolve by creating Qurrex, can be set out as follows:
• 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.
NICHE PRODUCTS AND THE UNIVERSAL EXCHANGE
In the modern realities of the developed client services on the financial markets, and also due to the digitization of all processes and the establishment of universal companies which provide their clients’ ecosystems with the widest possible range of services, the client wants to have a single entry point for an exchange’s entire functionality. The leading players in the classic finance, banking, and brokerage businesses have long been catering to customers by developing appropriate product lines. By contrast, in the cryptocurrencies and cryptoassets sector, the majority of players have until now maintained precise specializations and a sharply defined niche quality.
We identify the following types of cryptocurrency exchanges:
• Platforms that don’t accept fiat currency, with a wide selection of cryptocurrency pairs (for example Poloniex and Bittrex);
• Platforms that don’t accept fiat currency and that specialize in low-liquidity coins/tokens (from recent ICOs) and the trading of one or two popular cryptocurrencies (for example CoinExchange, C-CEX);
• Exchanges that do accept fiat currency and that specialize in one or two cryptocurrencies, with platforms for clients to enter the cryptocurrency world (for example Bitstamp, Lykke);
• Exchanges that accept fiat currency and specialize in a wider range of traded cryptocurrencies/coins most popular with platform speculators (for example Bitfinex, Bithumb);
• Futures exchanges (for example BitMEX, Deribit);
• Platforms that aim to mix the approaches listed above (virtually absent, possibly refers to hitBTC, YObit.net).
Okay now we are at the end of the article, my suggestion please you visit the official website, whitepaper, and their official media below to get more information. Thank you for visiting my website, see you later.
Website : https://qurrex.com/
Whitepaper : https://goo.gl/ZmucrR
Telegram : https://t.me/qurrex
Facebook : https://www.facebook.com/qurrex/
Profil : https://bitcointalk.org/index.php?action=profile;u=1929863;sa=summary