The technology has always been fascinating its creators. What started with figuring out the best method to move goods from place to place using wheels soon initiated the fire and zeal in humans to look for better and feasible alternatives. The practice instantly made people look for better substitutions for the prevailing ones, the technical advancement began. Technology appeared to show unimaginable strength and boosted the progress. The technically running world at once became limitless. The newer options began to appear in almost every sector and are appearing promising. The Blockchain technology is one such niche that is capable of bringing changes to the present economic system.
The advent of Blockchain technology and Cryptocurrency essentially transformed the prevailing economic system. With market adopting online means, the need for a better and secure commerce system was felt. The newer technologies eliminated all the possible threats in the traditional exchange system and designed a reliable one but the Cryptocurrencies too began showing drawbacks that should be rectified. The powerful and potential technical creation needs corrections for its mass adoption. The problems such as speed of transactions, scalability and cross-platform transfers are unavoidable yet solvable. Thus the need for a platform overcoming the demerits was needed.
QUICKX AS A PLATFORM:
The shortcomings in the Cryptocurrency environment were attended successfully by QuickX, a platform with an innovative and best solution possible. The QuickX identified problems such as Speed of transactions, transaction cost, and scalability and cross chain transfers are the core culprits in deterring the mass adoption of Cryptocurrency and are necessary to devise the best solution possible. Every transaction involves blocks allotment and hence is a slower process; the speed needs to be increased with an alternative process for faster and smoother handling of huge traffic. The cross-platform transactions are tedious and time-consuming; a possible solution must be implemented to ease the process.
The problems were approached by designing a dedicated decentralized off-chain transaction network; the network helps in building a seamless and easy establishment of a connection between the maker and taker. The dedicated network also brings down the commission fee involved as it removes the miner's confirmation in the establishment of a connection. The solution will greatly increase the speed of transactions and hence help in raising the number of transactions per second. The resultant platform enables usage of Cryptocurrency to a greater extent such as exchange of Cryptocurrencies instantaneously. Another innovatively devised operation is the pooling facilitators. The problem of cross-platform transactions remained unsolved and it is a much-needed feature to enable mass adoption of Cryptocurrency. The pool facilitators establish instantaneous connections among various protocols and enable exchanges seamlessly. Enabling cross-platform transactions will increase the scope of Cryptocurrency as the future substitute to the present economic system.
CONCLUSION:
Cryptocurrency is a potential technology that once adopted will greatly shape the economic system but it lacks the public interest as the system is not convincing enough; the need for an improved platform was felt. QuickX accurately addressed the glitches observed in the existing Cryptocurrency system by designing a dedicated off-chain network and the problem of cross-platform transactions was solved by featuring a pooling facilitators. The resultant hence is an adequate and desirable platform that can attract and enable people to adopt the Cryptocurrency as a basic commerce source. The technical advancements with user-friendly and desirable features are always a deadly combo.
Website - https://www.quickx.io/
Whitepaper - https://www.quickx.io/whitepaper/QuickXProtocolv1.7.pdf
ANN - https://bitcointalk.org/index.php?topic=3858976.100
Telegram - https://t.me/quickxprotocol
Published by - jessicalaurenbt
Btalk profile - https://bitcointalk.org/index.php?action=profile;u=1936052
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