How will Qurrex solve problems facing decentralized methods of money transfer?
Decentralized technology came like a storm. Everyone felt it. People thought that it will have no weaknesses. It has been applied in various fields and there are still some problems facing the decentralized exchanges that need to be solved. Qurrex has adopted different approaches that will help to solve problems facing the decentralized networks. One of the approaches will focus mainly on practical implementation. Let us have a look at the approaches and what they have to offer.
Cross chain atomic transactions
Atomic transactions have already been conducted between two different blockchain platforms and we have seen the results. The first transaction of this kind happened when they were testing lite coin and DECRED environments. The code samples of the operations were shared. Technology will continue to develop and it is expected in the near future to have the chance to finish transactions between different blockchain networks that support cross chain atomic transactions. The challenge in using this technology has already been solved but still, we need to find a counterparty to do operations.
There will be the creation of a new blockchain network to help in solving this problem. The new blockchain will link the two counterparties. This will help to reflect the desires of the two parties to make a deal. The transaction will then be conducted outside the network. It will not have any effect on the performance of the transaction.
This is a proposed solution where we expect development for a local multi-currency wallet. The wallet is expected to have the ability to exchange different quotes within the network.
This technology will ensure that all transactions are done and finished within the network.
Professional centralized custody
This approach will enable the ability to create an asset in the Qurrex network block. The asset will be secured with an existing crypto asset or asset. This is not a new technology. It is just an existing technology that has been improved. Qurrex wants to exclude any gateways that are not trustees of the provided asset’s release from the chain. Currently, this idea is still being studied by professionals from different countries such as Germany, Singapore, and Russia. By the time this technology will be implemented, we will be able to make use of the custodies that already exist.
Advantages of the project
The project has a lot of advantages and that is why it is going to be the next big thing in the market. There will be minimal risks from the involvement by third-parties. The storage will be highly reliable.
This is a great opportunity and it will be achieved by the creation of a consensus algorithm used to carry out transactions within the contract. It will also be achieved by coming up with an advanced technology to maintain exchange’s condition. We will not have to worry about losing the key of our wallet which was created as part of the contract. There will be technology to defend people against double spending.
Website URL : https://qurrex.com/
White Paper URL: https://drive.google.com/file/d/1klzZPHdjCBnurHCJjJbjwsed_5rx4W1U/view
Facebook: https://www.facebook.com/qurrex/
Twitter: https://twitter.com/qurrex
