Introduction
Cryptocurrency created a paradigm shift in the financial world. It offered a new way of transaction through virtual currencies. With time, virtual currency exchanges were put in place to monitor, trade, and provide market stats and analysis on each cryptocurrency. This gave rise to centralized cryptocurrency exchanges like Bittrex. Yes, the exponential rise in the number of cryptocurrency and the increased desires for services that enables conversion of fiat currency into cryptocurrency, lead to the development of centralized exchanges. Although centralized exchanges provide a common platform for transactions, they come with security risks. Most bitcoin and cryptocurrency owners lost their coins when some of these major exchanges were hacked. To curb this occurrence and to ensure transparency and liquidity, decentralized exchanges were set up to meet these targets. Decentralized exchanges are not only impervious to hacking, but they are fast, efficient, and cost less hhan centralized exchanges.
Challenges of Decentralized Exchange
Popular decentralized exchanges includes WAVES DEX, Bitshares, nvo.io, and other Ethereum-based exchanges like Delta, OasisDex, and others. However, decentralized platforms, in a bid to solve the problems of centralized exchanges, also faces different challenges such as a reduction in the speed of transaction, low liquidity of cryptocurrencies, absence of protocol and APIs for connecting algorithms.
Qurrex's Hybrid Solutions
Qurrex aims to develop the first multi-functional hybrid virtual currency exchange by combining a decentralized blockchain protocol with a centralized exchange platform as one of its node. The nodes that makes up this network will be able to send orders to nodes for the best value for a commodity. Furthermore, the nodes will be able to exchange information with other nodes on the latest active request. Mind you, this can only occur by participation of each nodes in the creation of a collective market data for each electronic asset.
This platform features a high secure and high speed hybrid architecture as opposed to the challenges facing both centralized and decentralized exchanges.
Features of Qurrex Hybrid Architecture
• It routes collective queue order to the blockchain network.
• Each nodes provides all the stakeholders in the hybrid system with the best execution service
• Receives data on matching results
Impact of Qurrex on Transparency
Transparency is a major challenge for most cryptocurrency exchanges, especially in centralized platforms. This is mainly due to users inability to access information from these platforms. Information such as the identity of those controlling and managing the exchange's activity, and the secrecy surrounding the way the funds of users are being utilized. To tackle this, Qurrex aims to provide a quarterly report of the exchange's activity. Furthermore, users on the Qurrex platform, are privy to detailed information about the state of their account.
Impact of Qurrex on Security
Qurrex has a decade's worth of experience in providing security for traditional exchange systems. Qurrex aims to provide top notch security systems by storing about 86 percent of its funds in cold storage wallets. Additionally, these wallets will be multi-signature protected and by a hardware security module.
Token Details
Token Name: QRX
Token Standard:ERC-20
Accepted Currency: ETH
Token Type: Utility
Exchange Rate: 500 QRX = 1 ETH
Total Token for Sale: 55 million
Total Token Supply: 70 million
Deposit Now: https://tokensale.qurrex.com/
Useful links:
Website: https://qurrex.com
Whitepaper: https://goo.gl/ZmucrR
Blog: https://medium.com/qurrex
Twitter: https://twitter.com/qurrex
Facebook: https://www.facebook.com/qurrex/
Reddit: https://www.reddit.com/r/QurrexOfficial/
Author: sweedy
Email address: cryptobaby255@gmail.com
