ABOUT QUICKX
QuickX is a novel protocol designed specifically to cure the mass adoption of Cryptocurrencies today. It performs transactions off the chain for the same blockchain assets and utilizes pooling facilitators who supply liquidity for cross-chain transfers of crypto assets. Through this, it accelerates the transaction speed greatly, dissolves the interoperability problem between different Cryptocurrencies, relieves the transaction fees and also solves the issue of scalability.
No more prolonged waiting times; with QuickX, it is now possible for you to make instant transactions for all your Blockchain assets.
How it works - On Chain vs. Off Chain Transactions
Currently, should a user want to transfer cryptocurrency, the user must wait until the transaction is confirmed by the blockchain. This wait time can be anything from minutes to hours, depending on the network load. QuickX overcomes this problem by setting up a decentralized off-chain transaction network, where cryptocurrencies can be instantaneously transferred from one person to another.
In the case of a typical on-chain payment platform, a transaction goes through following steps:
> The first party (maker) adds an offer
> Smart contract takes the relevant tokens to into escrow
> The second party (taker) picks the offer
> Maker sends requested tokens
> Taker receives the offered tokens
Advantages for QuickX Users
QuickX can be easily used for C2C, B2C, and B2B transactions. For instance, QuickX enables a customer to use any cryptocurrency to make purchases online or offline just like other electronic payment methods.
> Lower costs for users: The least cost option is selected by default by the algorithm. The transaction costs are expected to reduce over time when more and more pooling facilitators join QuickX. It is possible that in the near future, the costs become almost zero.
> Instantaneous transactions: Transactions are made instantaneously regardless of the amount, irrespective of whether they are cross-chain.
> Multi-cryptocurrency: Users can hold any QRP-compatible blockchain asset and can convert it to another cryptocurrency at any time.
> Investment opportunity: Pooling facilitators can earn by investing in QuickX. In addition, large-scale investors can lend money to the analyst team and earn a profit; cryptocurrency managers can work on behalf of other pooling facilitators and earn a profit. Pooling facilitators are paid for every transaction and operational costs are next to zero. QuickX is dedicated to providing equal opportunities to participants in the ecosystem.
> Negligible operating costs: Actual transaction costs are expected to be negligible since transactions are not added to the blockchain under normal circumstances.
> A global market: QuickX can expand globally without the need of any physical presence. This can open the door to new markets that are not currently touched by traditional systems.
> Potential for new services: Quickx can also be used for innovations by visionary entrepreneurs that can bring unforeseen advantages to communities.
> Trust and security: Pooling facilitators perform all transactions in a decentralized manner. However, the core infrastructure of QuickX remains blockchain, and the users themselves hold private keys of the crypto assets.
> Total control: Users have full control over their crypto assets. QuickX features a multicurrency wallet, a multicurrency debit card, a cryptocurrency swap option, and a payment gateway using QuickX protocol, the applicability of which in the real world is discussed below.
System Components and their Applications
> Multicurrency Wallet
> Multicurrency Debit Card
> Cryptocurrency Swap
> Payment Gateway
Token Economics
Supply and distribution token
QuickX token (Symbol: QCX) will have a total supply of 500 million tokens distributed as follows:
Bonus On Tokens
There will be a bonus for every 25% of tokens. For the first quarter, 25% will be given, and 20%, 10%, 5% will be given for the second, third, and fourth quarters respectively. This is shown in the figure below.
Token Price
The price is set to be at 1 ETH = 7500 QCX. Only ETHEREUM can be used to purchase tokens
Fund Allocation or Use of funds
ROADMAP
> 2016 Q3 Started Research in Blockchain
> 2017 Q1 Planning of Business Module and resource team allocation
> 2017 Q3 Patent Filed for the technology (QuickX)
> 2017 Q4 Raised $ 1.2 Mn from Private Investors to work on QuickX Protocol
> 2018 Q2 MVP Launch (Decentralized Multi Currency Wallet- Android Version)
> 2018 Q3 Token Sale
> Launch of Fully Functional Multicurrency Wallet (Android version)
> 2018 Q4
QuickX Testnet Launch Platform (Internal)
Launch of Multicurrency Wallet (iOS version)
Launch of Multi currency Crypto Debit Card
> 2019 Q1
Security Testing and Auditing of QuickX Testnet Platform
Public Launch on Testnet
> 2019 Q2
Launch of V.1.0 on Mainnet with Public Liquidity reserve and Platform will be open for Pooling Facilitators to infuse Liquidity
Addition of More Cryptocurrencies in Wallet and Enhance User Experience
> 2019 Q3
QuickX SDK and tools available for different wallets to implement and use features of QuickX protocol
Partnership with more card providers in different Countries to increase user base
> 2019 Q4
Instant Cryptocurrency Swap using QuickX Protocol
Market Expansion and bringing more Blockchains to QuickX Platform
To find more relevant details of the Quickx project please refer to:
WHITEPAPER : https://www.quickx.io/whitepaper/QuickXProtocolv1.7.pdf
FACEBOOK : https://facebook.com/quickxprotocol
TWITTER : https://twitter.com/Quickxprotocol
TELEGRAM : https://t.me/quickxprotocol
Autho r: sarta afdal17
My Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=1519661
My Eth : 0x77921cc7e185e9d57a27DB0adf45f07cC2e91034
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