THE FIRST HYBRID CRYPTOCURRENCY EXCHANGE INTEGRATING INDUSTRIAL INFRASTRUCTURE OF TRADITIONAL STOCK EXCHANGES WITH DECENTRALIZED NETWORK
Introdution
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 prossess 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
The Qurrex multifunctional trading platform is a hybrid system that consists of:
- a centralized node, which is comparable in its effectiveness to modern, cutting edge traditional exchanges;
- client functionality that meets the demands of users of leading exchange and FX brokers;
- a blockchain network which, on the one hand resolves problems of secure storage and eliminates middlemen, and, on - the other, provides the user with aggregated liquidity from all network nodes, including the centralized platform.
- DEX is an indispensable tool for creating liquidity in low-liquidity instruments such as tokens issued as part of an ICO or the numerous altcoins;
- DEX is a natural protection from those technical problems which inevitably arise from time to time in the central node of any centralized system;
- DEX is the best understood and most transparent mechanism for lowering the risks around the function of the infrastructure’s central link, albeit it at the cost of other product qualities (operation processing time, for example).
This approach lies at the heart of our system and inspires us to simultaneously create a successful, advanced, and effective centralized project, and to move forward, heeding the call to build and utilize decentralized systems.
The NEXT GENERATION HYBRID EXCHANGE PARADIGM
INHERITANCE FROM THE TECHNOLOGICAL, ORGANIZATIONAL, AND OPERATIONAL EXPERIENCE OF EXCHANGES
In searching for the optimal solution to the many problems with the existing cryptocurrency exchange platforms, we turned to the experience of classic exchange and broker companies, an area in which we have great expertise. Set out in the table below are the characteristics of the Qurrex exchange that were previously absent from cryptocurrency platforms
QURREX’S SOLUTION FOR DELIVERING DEX
By studying the proposed solutions and protocols of decentralized exchanges, we have adopted two approaches that will be applied in decentralized networks of the next generation, one of which we will focus on for practical implementation.
INTEGRATING CEX AND DEX: THE PATH TO A HYBRID EXCHANGE
After the modification/integration of the blockchain network selected for delivering the decentralized exchange and after the completion of work on the functionality of the DEX, the centralized exchange will become one of the nodes in the aforementioned network. The CEX node (or the central node), along with other nodes that make up the network, will send orders to nodes with the best price for an instrument and exchange information with the rest of the nodes about current active requests by participating in the creation of aggregated market information for each electronic asset.
THE KEY FEATURES OF OUR SOLUTION
- Transparency: Financial Openness
- Transparency: Formalization of all Exchange Processes
- Security and the Maximum Guarantee of Safety for Assets
- High Capacity of the Exchange’s Central Link
- Formation of the Ecosystem with the Necessary Products and Services
MISCELLANEOUS CHARACTERISTICS
- Multiresidency : Qurrex plans to become the first international cryptocurrency exchange system whose activity will comply with the standards of the world’s leading jurisdictions. We plan to observe all KYC and AML procedures, as well as other standards aimed at securing maximum legitimization of the exchange process. At first, the project plans to be awarded a European license (Luxembourg or Switzerland), followed later by the opening of representations in the US and Japan.
- Client Support : One of the most burning issues for virtually all cryptocurrency exchanges is the lack of fully-fledged prompt client support. In the event of a problem occurring, users have to wait for hours or even days for the support service to get back to them.
QURREX is much faster than any existing cryptoexchange
https://qurrex.com/metrics.html
HIGH-END PERFORMANCE, SCALABLE AND RELIABLE CORE EXCHANGE MODULE
- Throughput >=70,000 trx/sec.
- Latency: <= 650μs at 99%
- Capacity >= millions of connections
- Zero loss of data
HYBRID INFRASTRUCTURE
Integration of CEX and DEX with the Single Order Book
- CEX with high-end performance for algo- and HFT-traders
- DEX with high liquidity of Single Order Book
NEXT-GEN SECURITY LEVEL
- SECURITY SYSTEM INFRASTRUCTURE OF TRADITIONAL EXCHANGES
- SECURE «COLD» STORAGE
- «HOT» WALLETS’ INSURANCE PROGRAMS
- SUPERVISION BY RECOGNIZED IT SECURITY COMPANY
BROAD FUNCTIONALITY
- ALGO TRADING FUNCTIONALITY EMBEDDED IN GUI
- AUTO-COPYING OF TRADING SIGNALS
- WIDE RANGE OF ANALYTICS TOOLS & CHARTS
- SOCIAL TRADING SEGMENT
- INFORMATION SERVICES (REAL-TIME MARKET DATA SOURCES AND ANALYTICS)
- NON-TRADING SEGMENT (CORPORATE SERVICES, MARKET TECHNOLOGY, TRADE MANAGEMENT SERVICES)
LIQUIDITY
- We plan to provide Qurrex with high liquidity thanks to:
- Cooperation with major liquidity providers
- Qurrex’s sufficient liquidity fund
- Best practice in launching new instruments
TRANSPARENCY
We will be the first at cryptomarket acting as traditional public company
- Maximum formalization of all processes (rulebook etc.)
- Regular disclosure of financial statements and reports
- Annual audit by Big 4
ROADMAP
2001-2014 Legacy Product
NOV 2017 Qurrex prototype
FEB-JUN 2018 Token-sale
JUN 2019 Qurrex trading functional
SEP 2019 Social trading services
DEC 2019 Hybrid platform
TOKEN DISTRIBUTION
CROWDSALE FUNDS DISTRIBUTION
More Information can find out in here;
WEBSITE : https://qurrex.com/
WHITEPAPER : https://drive.google.com/file/d/1klzZPHdjCBnurHCJjJbjwsed_5rx4W1U/view
TWITTER : https://twitter.com/qurrex
FACEBOOK : https://web.facebook.com/qurrex/
Telegram Chat : https://t.me/qurrex_chat
Telegram Channel : https://t.me/qurrex
Author
BitcoinTalk Username : purwapw_
BitcoinTalk Profile : https://bitcointalk.org/index.php?action=profile;u=2087445
Email : [email protected]
ETH Address : 0x0FE4743bc2b99b97d98D14609D7155d71723B8B6