How Pooling Facilitators will Enhance Cross-Chain Transactions with QuickX
. As of early 2018, the combined market cap of cryptocurrencies is over $500 Bn with over 1500 different cryptocurrencies.
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However, the cryptocurrency ecosystem is not without its fair share of problems. Transaction fees have increased because of the high transaction volume. Transaction times have also increased due to the same reason. Scalability is also an inherent challenge because each node on the blockchain needs to process every transaction. Moreover, inter-chain transactions are time consuming and expensive, which creates a major challenge for mass adoption.
A new technology, named QuickX Protocol, can solve these problems by introducing the concept of pooling facilitators that inject the necessary liquidity in the ecosystem, enabling inter-chain transactions through an off-the-chain mechanism.
Here’s How Quick X Enables Inter-Chain Transactions by Introducing Pooling Facilitators
Quick X makes use of pooling facilitators to connect different blockchains with each other. Pooling facilitators are individuals or businesses, which act as liquidity providers to enable cross-chain transactions in the ecosystem. Pooling facilitators, essentially, act as facilitators between senders and receivers in the decentralized ecosystem, while making profits on their liquidity infusion.
Every time a payment request is made to the Quick X platform, the request is sent to the best selection algorithm, which finds the best pooling facilitator with the lowest transaction cost, from a decentralized liquidity pool of pooling facilitators. The algorithm maintains the record of every pooling facilitator in the decentralized liquidity pool along with its transaction costs.
If a pooling facilitator doesn’t have enough liquidity, it can even take a loan from another pooling facilitator at a predetermined cost, which makes the system even more efficient. Pooling facilitators are constantly checked by a routing protocol and algorithm for trustworthiness, which makes the entire system extremely secure and trustworthy.
Quick X Presents a New Investment Opportunity for Investors
The introduction of pooling facilitators has created a new investment opportunity for potential investors. Pooling facilitators make profits at nearly zero costs, as transactions are not added to the blockchain under normal circumstances. Anybody can become a pooling facilitator, and contribute to the overall health of the Quick X ecosystem, by providing a minimum amount of liquidity. Large-scale investors can also lend money to analyst teams, which can act as pooling facilitators on behalf of investors.
The Quick X technology is being built by Secugenius, a leading cybersecurity company with a clientele of over 200 global companies. Quick X can overcome the limitations of cryptocurrencies such as slow transactions, high transaction fees and lack of interoperability by combining ‘trustless decentralized blockchain’ with ‘algorithmically trusted decentralized pooling facilitators’.
Quick X has the potential to create a larger interconnected network of blockchains, which can accelerate the adoption of cryptocurrencies by solving the various challenges associated with them.
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