Team - 8/10
Market & Future Growth - 7/10
Product / Platform - 8/10
Token Metrics - 8/10
WhitePaper Technical Explanation - 8/10
Qurrex has well-experienced team members which is plus point for them. They are trying to make a new crypto exchange which will have features of both decentralized and centralized exchange. Their whitepaper explains technical details very well. The biggest problem for them is very big competitors like Binance, Huobi.Pro which currently ruling on the complete crypto trading market. Binance is also working on the same type of new exchange which is based on DEX. So, Qurrex needs lots of efforts to alive in this market. Overall Qurrex is a good project.
Nowadays there are plenty of cryptocurrency exchanges in the market. All of them are using a centralized exchange platform to meet their needs. The idea of bringing a decentralized exchange platform sounds quite airy to the exchanges present in the market. With the arrival of Qurrex which is a hybrid of centralized as well as decentralized exchange most of the problems of cryptocurrency exchange will be resolved and it will become an exchange platform for the future. The idea behind bringing the hybrid system of Qurrex is to mix CEX and DEX together in such a way that it becomes more transparent, secure and reliable exchange platform.
Current Problems in the world of Crypto Exchanges:
The exchange platforms had certain issues which are mentioned below that marked the arrival of Qurrex:
The major issue with the cryptocurrency exchange is of security. Most of the exchange platforms are not that much secured so that they could provide their users a relief about their investment. Price manipulation has always been another issue with cryptocurrency trading. Cases of insolvency have also been witnessed in the exchange market. Many times defaulters do make fake news and this causes the harassment of the investors.
Delay in the transaction has also been a pain in the neck for many cryptocurrency trading platforms. Insecurity regarding ICOs has also been seen which causes investor trouble. These are the major problems that are faced while trading in cryptocurrency with other platforms.
There were certainly other issues with CEX which are mentioned below and will be resolved in Qurrex’s hybrid platform.
Current Issues with CEX:
- CEX was prone to security issues and was lacking in terms of protection and providing the users the security they need which marked to many frauds occurring during the exchange of cryptocurrency among which major was theft-related issues.
- CEX platform was not very fast with the absence of connection-friendly APIs. Which brought forward many complaints related to it and hence a bad reputation for the exchange platform.
- CEX lacked in terms of providing liquidity (especially across low-liquidity instruments) and transparency which was a reason for interaction issues with the customers.
Solutions By Qurrex:
Qurrex has been developed with an idea to ease the process of trading in cryptocurrency market. Qurrex will solve the issues that investors are facing while trading. Developers have worked hard in order to provide the solutions for existing issues with the exchange platforms. The majority of the problems with DEX are based on marketing innovations and developers have found that dependency of the decentralized platform over centralized platform will solve most of the issues. In the view of developers, the certain issues with DEX are a no obstacle in the effectiveness of DEX in a commercial market. Developers of Qurrex have been working hard ever since the arrival of it on the issues. Most of the issues are resolved and others are being worked upon.
DEX is always a better choice over CEX as it faster, cheaper, easier and more secured to be operated but for certain universal issues the dependency is must and that’s what you get in Qurrex, a hybrid platform.
Read More about them,
•Website: Qurrex Website
•Whitepaper: Qurrex Whitepaper
Published by, Tushar Ramani (Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1135615 )