Qurrex: The Future of Centralized and Decentralized Exchanges II
In the previous post concerning Qurrex, the overview of how Qurrex intends to incorporate both Centralized and Decentralized exchanges onto one platform was briefly reviewed, focusing on the main issues facing both Centralized and Decentralized exchanges. Both have their advantages which Qurrex intends to adopt while at the same time ridding off the disadvantages of both exchanges and turning them into extra capabilities for the platform as a whole.
This post, however, is to give a broader view of the ways Qurrex intends to solve the problems of both centralized and decentralized exchanges. One of the major issues both centralized and decentralized exchanges were unable to solve as advantages of one over the other was the issue of speed which is a very crucial factor in any transaction whether online or offline.
Whether on Centralized or Decentralized exchanges, the process of trading happens usually between two networks- usually Blockchains. Now, the solution Qurrex is proffering to this problem is what they term “Cross-chain Atomic transactions.” This concept aims at solving the problem of speed as earlier mentioned by creating a new Blockchain network which will serve as an intermediary between two parties attempting to trade. Although this network is to facilitate the trade, the transaction will not be conducted within the created network rather a wallet which can hold multiple currencies, exchange orders and notifications between both parties and execute a request from either party optimally.
The second major issue facing exchanges is that of collateral. Traditionally, a collateral is required for a high-speed transaction on exchanges and many at times the asset released isn’t usually in the ratio 1:1 to the collateral from the origin. Qurrex aims to solve this problem by eliminating gateways that aren’t in any way supposed to be the recipients of the collateral. In lieu of this, the collateral is sent directly to the intended blockchain for proper implementation. This platform is to enable the collateral’s value be kept at an equal ratio to the released one and also defend against double spending and forks.
The integration of both the centralized and decentralized exchanges onto one platform turns them both into nodes. In essence, the hybrid exchange will basically gather all orders on the centralized and decentralized nodes from the network, route them through their appropriate channels on the network, determine the best possible instrument price at specific nodes and prices specified in the order, placing the order and sending results back to the origin. A graphical representation is shown below:
The interesting part of the whole flow is the system’s ability to recognize the best possible execution for an order and carrying it out. Usually, exchanges are obliged to perform the best possible trade execution on behalf of clients who place orders and this is done via The Smart Order Router Module in the case of Qurrex. All these processes are executed to ensure transparency, security and safety of assets and funds, a high capacity platform, social trading, liquidity and so much more.
The Qurrex platform definitely has a token which would be primarily used for accessing discounts on paying of commission fees for trades on the network, a medium of payment for other goods and services and also an exchange token. The token is represented by QRX and 1 ETH is worth 300 QRX. The public sale is currently on and will last till June 30 2018.
For more information, click any of 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