Qurrex Crypto Exchange
Day Trading, as we know it, has been around for more than a century. Today, we have electronics to help, but the concept of buying and selling securities on an exchange. As with cryptocurrencies, it has also has exchanges. Individuals or big institutions are in the hype of cryptocurrency exchange.
Cryptocurrency exchanges are businesses that allow customers to trade cryptocurrencies. They can be market makers that typically take the bid/ask as transaction commissions for their services or simply charge fees as a matching platform. Most digital currency exchanges operate outside of Western countries, avoiding regulatory oversight and complicating prosecutions.
They may accept credit card payments, wire transfers, postal money orders, cryptocurrency or other forms of payment in exchange for digital currencies.They can send cryptocurrency to your personal cryptocurrency wallet. Many can convert digital currency balances into anonymous prepaid cards which can be used to withdraw funds from ATMs on some countries globally.
A lot of cryptocurrency exchanges are now competing around the globe. And another exchange will take a risk on entering the competition. But how can you become a game changer of this market with a lot of big established players? Let me tell you about Qurrex Crypto Exchange.
Qurrex will be the first cryptocurrency exchange integrating industrial infrastructure of traditional stock exchange with decentralized network. They are the first one to develop multifunctional hybrid cryptocurrency exchange ecosystem by combining a centralized industry platform with a decentralized blockchain protocol in which the centralized exchange will serve as one of the nodes.
The capabilities of this project will be:
A highly secure, high-performance hybrid architecture supported by an independent technical audit
A broad functionality that satisfies the demands of users of any level
Maximum transparency for users: an independent audit, publication of financial accounts, maximum formalization of all processes
Payment gateways for depositing and withdrawing fiat money
An advanced interface that is highly customizable and comes with an advanced API
A platform for social trading and investing with its own marketplace
Fast and responsive multilingual user support operating 24/7.
Qurrex will have its openness towards the community, which will be achieved by way of:
quarterly reporting of the exchange’s activity;
conducting of an independent audit of the exchange’s activity by one of the Big 4 auditing companies;
publishing of audit results;
creating of an exchange management board of independent industry experts and community representatives;
Supplies users with the most detailed information possible regarding the state of their account and completed trading and non-trading operations.
The first attempt to create a hybrid exchange for cryptocurrencies on the base of existing traditional exchanges has a big chance to become successful. With its team that includes specialists, most of them are IT professionals, but the team also have people who has experienced in finance, exchanges, law, and advertising.
The featured functions of the hybrid exchange will be: • The formation of an aggregated order queue based on data received from all the system’s nodes (both the centralized and decentralized nodes); • Routing of the aggregated queue’s orders to the blockchain network; • Identification of the system nodes where the best instrument prices are located and to which it is necessary to send the order/transaction submitted by the client (when it is possible to make a deal at the price specified in the order); • Including the order in the blockchain; • Receiving information on matching results.
The liquidity of the Qurrex exchange system will be assured, first of all, by providing access to the trading system to bidders who at the present time are not widely represented on the cryptocurrency market. We are talking here about institutional investors, liquidity providers, brokers, algotraders/HFTs, and arbitrageurs. The project team is currently in active negotiations with large international liquidity providers on developing cooperation after the pilot launch.
Qurrex adheres to the following principles in implementing social trading mechanisms: • maximally detailed and scrupulously assessed statistics of trust managers (statistics are as detailed as possible, with over 20 indicators; • reliability of provided data and protection from compromise; • minimal interference by the exchange in the process of selecting an investor from the strategies presented, or directly in the mechanisms for the copying of trading signals.
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. They intend to change common practice, providing users with multi-lingual, round-the-clock client support via various means of communication, not only email. Regardless of how many assets they have, clients will receive a prompt response regarding any issue involving the functioning of the platform.
Future bidders on Qurrex will be: • Private investors who will receive a wealth of tools for analyzing and executing operations; • Other (niche) cryptocurrency exchanges and exchange offices which need the high liquidity of our platform; • Classic and FX brokers who want to give a new product to their existing clients but who cannot find one of sufficient quality (negotiations with several major international FX players are ongoing, preliminary agreement has been reached); • Institutional and corporate investors, as well as cryptocurrency funds whose current solutions are not sufficiently reliable; • Algotraders, arbitrageurs, market makers (the first cryptocurrency exchange which one can describe as having a client group such as HFTs).
The average daily volume of trading in cryptocurrencies didn’t exceed $300 million until early 2017. Significant growth in turnover began after overcoming a BTC exchange rate of $1,000 and the rally of altcoins in the first quarter of 2017. As early as May 2017, the daily trading volume was $2.5 billion, and by the end of August it exceeded $6 billion. After the adjustment of the trading volume up to $3.5 billion per day in September there was new rally both of Bitcoin and altcoins. As a result, daily trading volume grew to 35 billion per day. Despite significant growth, the cryptocurrency market is still in the early stages of development. For comparison, the daily trading volume on the stock markets is $200 billion, on futures it is more than $400 billion, and on FOREX this number is around $5-6 trillion. When extrapolating the retrospective dynamics of changes in the volume of trades on cryptocurrencies for the future in various scenarios, we see a multiple increase by 5 to 30 times or more. They estimate QURREX’s market share for the next 5 years to be around 1-2% on the low end and 5-7% on the high end. With the growth of trading volumes on the market, competition will also increase, which will result in a classic price war and expansion of the product line with subsequent differentiation.
The functions of the Qurrex Token on the centralized exchange are as follows: • an individual discount for paying commission fees accrued for organizing trades; • a medium for paying for services and fees with other currencies; • a quoted exchange commodity.
The authorized owner of the token on the exchange may only use the earned discount only to pay accrued commission fees for organizing trades in the reporting period on their own accounts. In order to obtain the right to use the discount, the user must deposit the necessary number of tokens into a special account, which suspends their circulation until the next reporting period. The discount does not roll over and is eliminated in the next reporting period.
By creating the DEX, we are striving to enhance security, increase the competitiveness, liquidity pool and trade volume of the Qurrex ecosystem. At the same time, we decided not to use our token as utility, in order to avoid some systemic problems that appear in the case of limited issue of tokens: • inflationary growth of the token’s value and commission fees within DEX; • in case of deposit model - limiting the number of users (demand); • deterioration of consumer properties of DEX: decrease the availability and usability of services when consumer should to use the token in daily operations; • a conflict of interest of DEX subjects: Confirmation Nodes tend to increase the size of the commission, while User Nodes reduce it.
An idea of creating a decentralized network with the concept of traditional exchanges can be a success, because they don’t need to start from scratch. The idea and technology is there and they will just incorporate features with a decentralized platform. With its team and the technology in it, few years from now, this might lead to the closure of some competing exchanges in the industry.
Website: https://qurrex.com/
Whitepaper: https://goo.gl/ZmucrR
Bitcointalk Ann: https://bitcointalk.org/index.php?topic=2899211.0