Over the past five years, the cryptocurrency market has witnessed a rapid growth attracting new investors year in year out. As at December 2017 alone, there were over 80 million cryptocurrency wallets registered all over the world. Also, the number of blockchain wallets has been growing since the generation of Bitcoin, getting as far as 24million wallets users at the end of March 2018.
Though gaining extensive popularity, the cryptocurrency ecosystem is still believed to be in its early stage due to the fact that the current system still has some defects which limits its integration with the real world. Also, it was reported by Wall Steet Journal that private investors are dominating the cryptocurrency industry. However, from research carried out, it was deduced that several banks and institutional investors are yet to actively participate in the crypto economy, as much of what is done now is majorly observation. Despite the upsurge in the number of participants entering the crypto economy daily as well as the potentials, much of the questions still borders around the issue of asset or funds security, transparency, low-tech trading platforms and liquidity. These issues have been of key concern and also played a big role in affecting the entry of institutional investors into the cryptocurrency economy.
Currently, there are several projects which exist on the crypto market but do not address these concerns holistically. Each one seems to only deal with one or two concerns. Having identified the current issues, Qurrex aims to provide a high-end performance multifunctional hybrid cryptocurrency exchange for social trading and investing. Qurrex aims to provide a platform that will allow users to have a single point of entry in order to enjoy the varieties of services offered. This will eliminate the current stress experienced with other exchanges if users want to invest or participate in several cryptocurrencies or ICOs.
Qurrex will build its foundation by combining the most triumphant features of centralized exchanges (CEX) and decentralized systems (DEX). The combination of the CEX and DEX will provide a high-end performance for algo- and HFT-traders and high liquidity single order book.
Key distinctive features: Transparency; Centralized node; user-friendly client functionality; blockchain network to furnish users with aggregated liquidity from all network nodes, address problems of secure storage and also put an end to middlemen; social trading; the ability for over 70,000 transactions/sec at an operation execution speed of less than 800ms.
The rapid growth of the cryptocurrency ecosystem coupled with an increase in demand for using fiat to purchase digital assets has led to the evolution of centralized exchanges. However, the cons associated with this evolution is that the security of funds is not guaranteed and is under threat from exchange operators and cyber-attacks. Due to this, decentralized exchanges are beginning to gain acceptance, as it seems to address the security issue Currently, there are several decentralized exchanges that have tried to resolve some of these issues, however, some major defects still evident are issue of speed, liquidity, collateral, lack of automated operations and matching algorithm. However, Qurrex's DEX platform is built on confirming nodes and user nodes and will make use of a DEX cross-chain cross-platform atomic orders.
The Qurrex platform aims to address these concerns holistically, as it’s built with a high-level security to protect clients, coupled with the establishment of non- trivial solutions which would enable Qurrex to increase security in the cryptocurrency ecosystem. Qurrex aims to achieve this by executing cold storage, as 98% of the funds will be stored offline using a combination of multi-signature and Hardware Security Module protection. This mode of protection will prevent users' wallets from being hacked.
The Qurrex core team has a combined experience which spans across various sectors such as investment banking, brokerage, corporate finance, investment analysis, business development, software development. Also, the team includes 17 front and backend software developers with blockchain capability.
Token Sale/Distribution: The Qurrex token will be issued in the form of an ERC-20 token, and will function as a utility token on the centralized platform, and will be used to fuel the platform. However, the token will not be used as a utility token on the decentralized platform, in order to forestall systemic issues that might arise.
Token symbol: QRX
Total Supply: 70,000,000 QRX
Current Price: 1 ETH= 300QRX