QURREX: The Foremost Hybrid Cryptocurrency Exchange

carliyke (49)in #cryptocurrency • 6 years ago (edited)

PROBLEM DEFINITION

Qurrex is a revolutionary universal cryptocurrency exchange in the sense that the platform incorporates the various features of a Decentralized Exchange also known as DEX, such as an increased transparency in the transaction processes as well as the use of a cryptocurrency monetization (tokens) and a Centralized exchange also known as CEX, which would convey features such as an increased transaction volume amongst many others in the same functionality as NASDAQ, FOREX and the likes . The fusion of a Centralized Exchange into a Decentralized exchange came about as a result of the cognizance of key trading features lacking in the existing cryptocurrency exchanges present in the market today. Thus this intends to serve as a major deterrent to the Big players of the conventional exchange system to take part in the emerging decentralized exchange system. Hence an A-list of seasoned Exchange system developers with over 10 years of experience on the field of exchange and broker systems development as well as the creation of various trading instruments for the traditional financial markets, decided to develop a system that would satisfying the needs of the existing users of the cryptocurrency exchanges and also that of new and prospective customers and Big Whales who would be joining the crytocurrency sphere in the nearest future.

PROJECT ECOSYSTEM

After the successful integration of the ecosystem into the blockchain technology, The Centralized Exchange (CEX) becomes a single node amongst the nodes in the Decentralized exchange (DEX). As every node on the DEX ecosystem is interconnected, each of which is subsequently connected to this centralized core (CEX) sends trading orders and transactions to other nodes within the generic blockchain ecosystem along with the optimal price for an instrument and exchange details with the rest of the nodes about current active requests by participating in the creation of aggregated market information for each electronic asset.

DISTINCTIVE FUNCTIONALITY

Among the many features of this platform includes some pretty distinctive feature which tends to make the project stand out when compared to the other cryptocurrency exchanges available on the market today such as;

The implementation of an insurance program with the provision of a secure "cold" wallet mechanism(unlike most conventional decentralized exchanges that utilizes a "hot" wallet storage mechanism) so as to save 90-95% of all wallet details where this 5-10% are fully insured in case of wallet details loss, theft or hacking.

As a measure of the limit to which a market permits the trading of a particular asset (token in this case) at fixed prices, Liquidity stands as a significant impedance to mainstream adoption of cryptocurrency. Qurrex focuses on eradicating the complexities involved with a low liquidity rate as this tends to favor smaller exchanges who suffers this most since they can barely withstand the charges involved when trading a high volume of cryptocurrency. QURREX tends to implement a system with higher liquidity by coming into a partnership with the major liquidity providers in the economy.

The operation of a cold storage system that would keep track of 90-95% customers' wallet details on a centralize yet transparent protocol unlike the traditional Decentralized Exchanges (DEX) that implements a hot wallet storage system which is prone to malicious attacks. An Insurance mechanism to insure the 5-10% customer wallets

The Inclusion of an extensive range of analytic tools and charts as well as a Social Trading Platform for the publication and distribution of trading strategy informations and signals as well as the provision of a trading Monitoring System.

A Multi-purpose exchange conversion interface with the capability for subscribers to deposit and withdraw fiat Centralized Exchange(CEX) and the subsequent conversion of the various fiats available on the Centralized Exchange(CEX) into the Decentralized Exchange(DEX) as cryptocurrencies on the same platform.

The Major aim and objective of the QURREX project is to create a secure, transparent and user-friendly trading ecosystem with the potential of the stakeholders of the cryptocurrency community at heart at heart as a continuous satisfaction of the community would further bolster mainstream adoption indelibly.

QURREX PARTNERS