New generation exchange
Intensive development of the cryptocurrency market, an increasing number of businessmen in this sphere leads to an urgent need for reliable and affordable exchange services of a professional level. The Qurrex project aims to create a full-fledged resource in a short time. It will be a hybrid system that operates as a centralized exchange (CEX), as well as a network of decentralized exchanges (DEX) simultaneously. It will give an opportunity to attract many new participants who are not yet involved in the world of cryptocurrency, which will serve as a serious impetus for the crypto economy development.
Advantages of hybrid architecture
The combination of CEX and DEX in one service will create a universal exchange with the maximum number of advantages of both systems. Despite the emergence of innovations, centralization will remain in the long term a reliable and effective tool for the traders. So, the possibility of partial pre-deposition of funds with a guarantee of obligation fulfillment is realized only in traditional exchanges. Also, CEX provides high capacity, when as new solutions in this area are still at the stage of their development.
In turn, DEX provides a unique chance to make altcoins and tokens that are issued to provide ICO liquid. Decentralization also makes it possible to completely eliminate the frequent technical problems that arise at the central nodes. DEX is a more understandable and transparent mechanism aimed at reducing risks, even if at present we have to accept the fact that the waiting time remains rather long. But this is nothing compared to the security of storage facilities that the decentralized system provides.
At the stage of online exchanges development, the hybrid systems will put their best foot forward. Practice shows that the declared as fully decentralized services still depend on the centralized nodes. It includes such issues as keeping order books, reserves for collateral, matching incoming orders and selecting the technology for mutual settlements. That’s why Qurrex’s goal is the effective application of the two standards, and a lot of technical work has been carried out and is still being carried to implement the project. In the nearest future, the MVP testing capability of the matching engine will be implemented.
5 Reasons to Choose Qurrex
- Developers in Qurrex have many years of experience in the traditional exchange systems security providing.
- Exchange and brokers resources launched by the specialists have been functioning for many years, and have never suffered from the third party.
- All the hardware and software used by Qurrex is the best one presented on the market.
- The company plans using hardware wallets for cold storage of funds with the protection of multi-signature and a Hardware Security Module (HSM).
- The activities of Qurrex will remain as transparent as possible and are constantly monitored by independent rating agencies.
It should be added that Qurrex plans to cooperate with leading insurance companies, organize a reliable depository for cryptocurrency, attract independent auditors and develop the DEX system according to the latest developments in this field. Exchange service liquidity will be provided by attracting serious bidders, including institutional investors, liquidity providers, brokers, also traders / HFTs, and arbitrageurs.
The Qurrex Token
QRX is the project token. The period of its public pre-sale begins on 27 February and ends on 27 March 2018. QRX sale price is fixed and equals 800 QRX = 1 ETH or equivalent in BTC/LTC. The minimal volume is 15 ETH or equivalent in BTC/LTC.
Within the CEX, the token can be used as an individual discount for commission payment when organizing trades on users’ own accounts, a means of payment for services and fees when dealing with other currencies, and also be considered a quoted exchange commodity and the crypto token.
In the DEX system, QRX is not used as a utility. Due to it the token is protected from a variety of problems, for example, inflationary growth, the limiting the number of users, etc. This way also provides protection against conflicts of interest of DEX subjects when Confirmation Nodes enlarge the commission size, while User Nodes reduce it.
Bearing the above in mind there a conclusion that the DEX blockchain will have two types of nodes, they are confirmation and user ones. Holders of QRX tokens may acquire the right to create Confirmation Nodes at the open competition, which will attract mining and brokers’ community as the main buyers of QRX.
Basic milestones of the Road Map
The Road Map of the project is described in detail in the Whitepaper. The document marks the milestones in the development of the idea. The first steps to the goal were made in November 2016. At the moment, there is a viable trading terminal version with the display of quotes of key currency pairs, the ability to conclude transactions in the test mode, view information and other functions. The preliminary ICO was held exactly one year after the idea was born – in November 2017. 17 large investors entrusted their funds to the project. Investments amounted to 1 million US dollars.
The Qurrex team leaders are Matthijs Johan Lek (Founder and CEO), Slava Baikalov(Co-Founder and Head of East Europe Office), Andrey Sitaev (CTO) and Konstantin Sviridenko (Adviser, Chairman of Supervisory Board, Board member of St.Petersburg Stock Exchange, CEO of Investment System«Voskhod).
The project team is competent in all financial and technical matters, has the necessary experience and skills in the legal field, promotes exchange and brokerage activities, cooperates with government bodies and strictly adheres to the rules of KYC.
Communication with partners and interested in the project and the acquisition of tokens people is organized through social networks. Welcome to the Qurrex Telegram, Twitter and FaceBook accounts. The official web site also features the possibility of direct chat.