We are going to make a new standard of cryptocurrency trading by using best practices and infrastructure of traditional stock exchanges. Qurrex will prepare the infrastructure of cryptocurrency industry for classic and FX brokers, HFT, banks, liquidity providers and other institutional players.
At the same time, we believe that decentralized exchanges are the future of cryptocurrency trading industry and we can give a new impulse for its development.
- our customers service will offer maximum transparency, formalization of all procedures, the safety and high quality of implementation;
- we are going to focus on b2b-sector. Our platform will have high performance and high-speed protocols. It will help us to attract to cryptocurrency market a new category of participants (brokers, banks, HFT etc) and to ensure loyalty of the existing customers;
- for b2с market we are developing a comprehensive and adaptive trading platform, which includes copy-trading (trading signals), algo-trading etc, tech analysis and user-friendly interface.
By providing technical and clients support solutions for those institutional participants who are not that much involved yet into crypto currency trading we expect them to join us: they will have the most of the services they are used to:
- end-of-day reports;
- different types of protocols that are so important for HFT and algotraders + co-location zones,
- also via APIs brokers could connect their risk management systems;
- 24/7 support desk available;
- easy crypto currency settlements and fiats' crediting and debiting;
- Margin trading as well as swaps and repo trades.
The platform consists of a centralized node (core exchange module), comparable to modern, cutting edge traditional exchanges with equal performance and reliability. Its client functionality meets the demands of users of leading exchanges and FX brokers in professional interface, technical analysis functions and connection (i.e. for high frequency traders). Moreover, the DEX and its blockchain network eliminates intermediaries and provides aggregated liquidity from all network nodes, including the centralized node.
June 2019 - Qurrex trading functional
Attention. There is a risk that unverified members are not actually members of the team
QURREX is a platform for hybrid crypto exchange that integrates industrial infrastructure for traditional stock exchange with decentralized network
Market Competitive environment:A very competitive space with well funded and strong cryptocurrency advocates, influencers, and dev teams already working on decentralized exchange projects. Hybrid exchanges can work but only until full decentralized exchanges resolve the scalability and and liquidity issues.There are both large centralized players and projects with blockchain:Crypto Exchanges - 100+ (Binance, Bitfinex, BithumbBittrex, Coincheck, etc)DEX - 10+ (Etherdelta, BitShares, OpenLEdger, Bancor Network, DDEX, Waves DEX, etc)Fiat Exchanges - 30+ (Bitstamp, Cex.io, Coinbase, Kraken, OKEx, etc)Hybrid Exchanges - 5+ (CGCX, NEX, LYKK, Legolas, Streamity)
The project advantages:Capacity for > 70,000 transactions per second, operation execution speed of < 800 ms;Latency - 650 microseconds;Availability of safe "cold" storage of user data;"Hot" wallets with connected insurance;The presence of high-performance API, native FIX / FAST, WebSocket, REST.
SOCIAL ACTIVITYThe project popularity in the social networks and discussion forumsTelegram: 5k members, user activity is mediumFacebook: 5.2k followers, average number of likes per post is 550, average number of sharing ings per post is 545.Twitter: 4.2k readers, average number of likes on one tweet is 320, average number of retweets per post is 290Bitcointalk Forum: Read 6.2k timesMedium: 161 followers, post commenting activity is very lowReddit: 284 followers, average number of comments per post is 14
An interesting idea of creating a decentralized network on the base of existing traditional exchanges can shoot, because they don’t need to create everything from scratch, the base is already there, and what is left is to add features of a decentralized platform. The team looks solid and experienced in creating systems of that kind. What is important is their intent to make all the processes transparent, fair, and open. Just recently they launched CEX matching module for load testing, you can join this campaign. The team also established several partnerships with other companies. Again, we see the main challenge in beating other competitors trying to create exchanges for crypto assets.The first attempt to create a hybrid exchange for cryptocurrencies on the base of existing traditional exchanges. And the attempt is promising to become successful.
In our opinion, the idea of the project is topical and in demand, as the rapidly growing crypto market requires new and innovative approaches to increase its efficiency and further development. The founders of Qurrex want to draw the attention of both single and institutional investors and brokers to the platform, thereby offering their services to a wide range of users.
The project is described as being the "first hybrid crypto exchange", but in our opinion, this statement could mislead users for at least two reasons. First of all, there are already a number of hybrid crypto exchanges, which combine centralized and decentralized elements. Secondly, the founders of Qurrex expressly state in their documentation that there is still no effective way for fast and secure decentralized cross-channel trade, as a result of which, this service will only be available after the invention of a suitable technology for this.
Therefore, the key risk of the project is the situation in which the implemented Qurrex architecture cannot effectively integrate the found solution. Meaning that the only advantage of Qurrex over a number of already existing centralized exchanges, will be the team's promise to comply with all norms of the traditional financial sphere.
This problem is compounded by the initial stage of development of the project and the lack of experienced blockchain developers in the Qurrex team. As a result, we cannot assign a higher rating to the project.
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