QURREX

bellatrixe (0)(1)in #crypto • 6 years ago

THE FIRST HYBRID CRYPTOCURRENCY EXCHANGE INTEGRATING INDUSTRIAL INFRASTRUCTURE OF TRADITIONAL STOCK EXCHANGES WITH DECENTRALIZED NETWORK

ABOUT QURREX

Qurrex, a first of its kind hybrid cryptocurrency exchange, is proud to announce its strategic partnership with Andromeda Group. Through this partnership, Qurrex aims to expand and enhance market making, OTC desk operations, listing exchanges and attracting crypto investors. Andromeda Group has announced that the total transaction amount of the deal exceeds 5 million US dollars. Andromeda Group intends to develop future fundraising strategies, assist with the fundraising process and with business development strategy and commercial partnerships.

Qurrex has been designed to create a suitable gateway for professional traders in traditional financial markets to the crypto economy and to meet the challenges of the exponential growth of cryptocurrency trading. The new platform will integrate the centralized exchange based on enterprise technology of traditional stock exchanges with decentralized network consisting of thousands of nodes of liquidity with partial exchange functions for miners, brokers, liquidity provider and other institutional players.

Matthijs Johan Lek, Qurrex CEO stated: “We expect the partnership with Andromeda Group to strengthen our capabilities and enable us to deliver new features to our novel product. It is an important milestone in Qurrex’s journey in becoming the first professional and truly global hybrid cryptocurrency exchange platform”

Andromeda Group is a private holding company focused on investing into high growth, sustainable blockchain assets. It has extensive experience and understanding of both traditional and evolving cryptocurrency markets. Its areas of operation include venture capital, crypto-brokerage and other opportunities in the blockchain sector.

Andromeda Group has offices in New York, London, Zug and Moscow. Its team has a proven track record in investing, operating and trading blockchain and cryptocurrency assets across multiple sectors and countries.

“We see Qurrex as potentially strong player in the market and glad to develop our relationship. We also believe that the quality of QRX token buyers will be one of the key factors of the future success of the project” – stated Pavel Kornilov, Andromeda Group Co-Founder.

Qurrex’s new generation platform integrates the industrial-grade centralized infrastructure of traditional stock exchanges (CEX) like NASDAQ, NYSE and LSE with a decentralized blockchain-based network (DEX). The platform will substantially increase the market’s liquidity and set a new standard for crypto-exchange products. Its reliability, security and speed are game changers for the crypto industry and professional traders alike.

QURREX Integrating Bancor Protocol to Provide Token Liquidity for Crypto Currency Buyers

By integrating the Bancor Protocol, Qurrex (QRX) token holders will gain access to continuous liquidity regardless of trade volume or exchange listings, through the Bancor Network, where any integrated token can be automatically and directly converted to any other. Currently, integrated tokens include ETH, EOS, TRX, BNT (the Bancor Network Token), GNO (Gnosis), BNB (Binance), and a long list of announced projects soon to be activated.

Bancor is a decentralized liquidity network based in Zug, Switzerland. It completed a historic Token Generation Event in June 2017. Bancor aims to unlock the long tail of user-generated currencies by solving the liquidity challenge, allowing any token to be instantly convertible to any other at continuously calculated prices, regardless of volume and outside of traditional exchanges.

Tokens integrate the Bancor Protocol to join the Bancor Network. The Bancor Protocol utilizes a “connector” method which networks connected tokens together through formulaically calculated prices, without needing to match buyers and sellers.

Qurrex will activate a Relay Token on the Bancor Network with $200,000 of QRX and $200,000 of BNT within a week following the successful completion of the Token Sale. Users will be able to buy and sell QRX tokens with any other token in the Bancor Network at a formulaically calculated price.

ABOUT BANCOR

Bancor Protocol is a standard for the creation of Smart Tokens™, cryptocurrencies with built-in convertibility directly through their smart contracts. Bancor utilizes an innovative token “connector” method to enable formulaic price calculation and continuous liquidity for all integrated tokens, without needing to match two parties in an exchange. Smart Tokens interconnect to form token liquidity networks, allowing user-generated cryptocurrencies to thrive. To convert tokens instantly, visit the Bancor Web App or join the Bancor Telegram group for more information.

Qurrex, initiated in November 2016, has integrated industrial-grade infrastructure of traditional stock exchanges with a decentralized blockchain network. The team behind Qurrex includes seasoned professionals with expertise in investment banking, stock exchange infrastructure development, and business development. Netherlands-based CEO Matthijs Johan Lek leads it. Matthijs Johan Lek has had over twenty years of experience in finance and investment banking and leading financial institutions. His team includes knowledgeable traders and consultants with significant roles in the cryptocurrency community as well as accomplished architects and experts of traditional stock exchanges from various countries.

Qurrex ecosystem

The Qurrex multifunctional trading platform is a hybrid system that consists of:

a centralized node, which is comparable in its effectiveness to modern, cutting edge traditional exchanges;
client functionality that meets the demands of users of leading exchange and FX brokers;
a blockchain network which, on the one hand resolves problems of secure storage and eliminates middlemen, and, on the other, provides the user with aggregated liquidity from all network nodes, including the centralized platform.

In reality, Qurrex is setting the industry standard in the crypto-economy for a universal cryptocurrency exchange one which existing platforms will eventually achieve only after years of independent effort.

The platform will become the first cryptocurrency exchange based on high-performance architecture from the leading international trading platforms. Rather than respond to the market demand of “yesterday”, it is designed for the future – for the coming growth explosion in cryptocurrency trading.

Moreover, the project will become an important factor in the development of the crypto-economy, as it not only satisfies the demands and solves the problems of current users of existing exchange platforms, but also creates favorable conditions for a new wave of participants, those not currently represented in the crypto world.

As a demo-model, we’ve prepared a test web version of the trade terminal which will serve as the interface for our exchange system.

The test version is able to reflect current quotations for key cryptocurrency pairs, provides trading and analytical capabilities, and supplies a newsfeed from various sources.

At present, the client end of the service the platform’s functionality for social trading and investment is 60% operational. At the back end of the exchange system, the concept of delivering the CEX and DEX has been developed, and work has begun on separate sections of the system, for a readiness level of around 20%.

By the start of February 2018, the order-matching module will be launched in test mode and presented for external load testing.

Advantages

Key features

HIGH-END PERFORMANCE, SCALABLE AND RELIABLE CORE EXCHANGE MODULE

Throughput >=70,000 trx/sec.
Latency: <= 650μs at 99%
Capacity >= millions of connections
Zero loss of data

HYBRID INFRASTRUCTURE
Integration of CEX and DEX with the Single Order Book

CEX with high-end performance for algo- and HFT-traders
DEX with high liquidity of Single Order Book

NEXT-GEN SECURITY LEVEL

Security System Infrastructure of Traditional Exchanges
Secure «cold» storage
«Hot» wallets’ insurance programs
Supervision by recognized IT Security Company

BROAD FUNCTIONALITY

Algo trading functionality embedded in GUI
Auto-copying of trading signals
Wide range of analytics tools & charts
Social Trading Segment
Information Services (Real-Time Market Data Sources and Analytics)
Non-Trading Segment (Corporate Services, Market Technology, Trade Management Services)

LIQUIDITY

Cooperation with major liquidity providers
Qurrex’s sufficient liquidity fund
Best practice in launching new instruments

TRANSPARENCY
We will be the first at cryptomarket acting as traditional public company

Maximum formalization of all processes (rulebook etc.)
Regular disclosure of financial statements and reports
Annual audit by Big 4

Hybrid architecture

SYNERGY OF:
Blockchain technology - ensures secure storage, eliminates intermediary and provides aggregated liquidity from all network nodes, including the centralized node
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Centralized node - centralized exhange (CEX) with performance comparable to modern, cutting edge stock exchanges

THE FEATURED FUNCTIONS OF THE HYBRID EXCHANGE:

formation of an aggregated order book based on quotes collected from all the system’s nodes (both the centralized and decentralized nodes);
dissemination of the aggregated order book to the blockchain nodes;
choice of the blockchain nodes with the best instrument prices/quotes to place the order submitted by a client (if the order is not marketable, it is entered in the order book of the original system node);
sending the order to the selected system node (for marketable order); entry of information on the order into the blockchain (for queuing order);
receipt of execution confirmation.

BEST EXECUTION LOGIC:

Each node of the hybrid exchange provides the Best Execution service to the user. Broker companies operating in countries with a developed financial market are obliged to provide the Best Execution service. In Qurrex this service is implemented by a special module – Smart Order Router, which is part of all the blockchain nodes, incluing the centralized (CEX) node.

Qurrex DEX blockchain is built of two types of nodes: confirming nodes and user nodes. The DEX protocol allows confirming nodes to charge other nodes a commission for the deals and transactions. The commission is charged in the deals's (transaction's) cryptocurrency.

There is a special kind of trading orders: DEX Cross-Chain cross-platform atomic orders (transactions). Cross-platform orders are charged just once, when being placed on decentralized nodes. Such orders are included in blocks as DEX transactions, while the confirming nodes charge their commission.

Qurrex founds special cryptocurrencies (qBTC, qETH). A trader can exchange these cryptocurrencies through DEX and his trades are to be charged for the deals theirselves, not for separate blockchain transactions.