Qurrex: The Future of Centralized and Decentralized Exchanges I
Cryptocurrencies have come a long way since 1983 when David Chaum received an electronic cryptographic money. A few years later, he implemented the Digicash which was considerably accepted as a form of payment which was untraceable to banks and major financial institutions. A number of cryptocurrencies have existed since then but the whole market experienced a boom in the last decade. A lot of questions have been asked in recent months about the possibility of cryptocurrency ever replacing fiat currency but there seem to have been no definitive answer to that.
Most cryptocurrencies developed nowadays aim to decentralize certain aspects of day to day activities. Some focus on AI, some on business, some on transport, etc. They all develop a currency particular to whatever aspect of life they focus on. Many at times develop a network for their implementation but use different platforms for their trading especially. Over the years too, there have been quite a number of trading platforms and exchanges; some being centralized and the others being decentralized.
The Centralized exchanges are the traditional exchanges that allows users trade cryptocurrencies for fiat or other cryptocurrencies. These are usually big platforms with a number of advantages- the fact it allows for liquidity is what makes it a better choice over decentralized exchanges. Decentralized exchange on the other hand is more like a peer to peer form of exchange which allows users trade anonymously while using some sort of escrow to facilitate the trade. Although the benefits of both exchanges can go on and on, Qurrex aims at bringing the benefits of both exchanges onto one platform while also curbing off the disadvantages of both which shall be briefly discussed below.
What is Qurrex and how do they intend integrating both Centralized and Decentralized exchanges?
Qurrex can best be described as a platform aimed at becoming the first ever hybrid exchange for cryptocurrencies with additional multifunction. In simpler terms, Qurrex intends to incorporate both features of Centralized Exchange (CEX) and Decentralized exchanges (DEX) all on one platform. The CEX is usually not user-friendly as it is quite complicated to use while the DEX is much easier to use with much more advanced features over the CEX and that is why the target users of Qurrex are both the first timers and big brokers in the industry.
The Qurrex skeleton is set to have the CEX and DEX at the core of the whole setup, gateways to trading platforms, websites, analytics, trade signals, APIs, mobile applications and so much more serving as the moving parts which all make up the system. As expected, the Qurrex ecosystem is set to use the Blockchain network also because of the transparency and security it provides. This allows the users to have control over the funds and see what happens with them. That which is one of the banes of CEX which stores funds and makes them very prone to attacks by hackers and money launders.
This post hence is to give an oversight into Qurrex and its aims. The next post shall focus solely on the rudiments of how the Qurrex ecosystem operates and how it would be beneficial to all and sundry.
For more information, visit the links below:
Website: https://qurrex.com/?utm_source=bitcointalk&utm_medium=link&utm_campaign=bounty
Whitepaper: https://drive.google.com/file/d/1klzZPHdjCBnurHCJjJbjwsed_5rx4W1U/view
Blog: https://medium.com/qurrex
One Pager: https://qurrex.com/files/Qurrex_Onepager.pdf
Telegram: https://t.me/Qurrex_bounty_chat
Bitcointalk Topic: https://bitcointalk.org/index.php?topic=2899211.0
Bitcointalk Username: DJHaywire
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=2037035