QUICK X REVIEW

QUICK X REVIEW

  • Quick X is an innovative, decentralized platform that is intended to provide effective solutions to some critical problems with blockchain technology. These include time, cost, scalability, and cross-transfer of blockchain assets, while making cryptocurrencies suitable for mass adoption in day-to-day transactions, at the same time providing solutions to enterprises.

 

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IDEA:

  • QuickX provides instant, seamless transfer of different cryptocurrencies between two parties. This transfer occurs without users having to pay a high network fee; the utilization of pooling facilitators who facilitate cross-chain transactions instantaneously, drastically reduces the costs.

PRODUCT PROTOTYPE:

  • Quickx launched its MVP (Multi Currency Wallet): It allows the users to have complete control over their money through private keys.
  • Link: https://www.quickx.io/mvp

 

WHITEPAPER HIGHLIGHTS:

  • QuickX features a multicurrency wallet, a multicurrency debit card, a cryptocurrency swap option, and a payment gateway using the QuickX Protocol
  • QuickX is a project of Secugenius, a leading cybersecurity company established in 2010.
  • Secugenius started its research into blockchain technology in 2016, and later came up with the concept behind the QuickX platform. This was followed by a patent application for the QuickX protocol. In Q3 2017, it successfully raised USD 1.2 million from a group of angel investors to develop the QuickX platform.
  • QuickX identifies the following problems, within existing blockchain ecosystems that can hinder the mass adoption of blockchain assets as a medium of exchange for day-today transactions:
    • Time & Speed: Blockchain transactions are recorded in the blockchain as blocks. Most blockchain protocols have a limited block size and take a certain amount of time to generate a block. Bitcoin blockchain takes an average of 10 minutes before a transaction receives a network confirmation. Ethereum takes 10 to 19 seconds.
    • Transaction Cost: One way to reduce these transaction fees is to remove the intermediaries.
    • Scalability: Almost all blockchain protocols, be it Bitcoin, Ethereum, or Ripple, have one common limitation in scalability: each node or the computer on the blockchain needs to process every transaction.
    • Cross Chain Transfers: Due to different blockchains having different protocols, there are limited ways in which communication between two can take place.
  • QuickX provides transfer of blockchain assets of different blockchain protocols between two parties instantly, just like traditional electronic transfer mechanisms. Additionally, it will provide a decentralized, cheaper method for people to buy goods and services using their cryptocurrencies.
  • 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
  • Maker receives the offered tokens
  • The proposed QuickX platform’s off-chain solution will allow:
  • Thousands of transactions per second, with no requirement of confirmation;
  • Very low commissions, which will allow micro-payments;
  • Instant payments, as users do not have to wait for the miners to confirm;
  • The ability to swap/exchange cryptocurrencies instantaneously
  • Transaction facilitators maintain the off-chain order book and charge negligible fees for maintaining these records. They approve transactions such as conversion from ETH to EOS, or TRX to ETH. The transactions are negotiated off the chain. Only once the trade is complete, the on-chain settlement take place.
  • The backbone of QuickX’s interoperability lies in its pooling facilitators. pooling facilitators enable instant interconnection among different blockchain protocols such as Bitcoin, Ethereum, Monero, Dash, or any ERC20 token, using a liquidity reserve.
  • The uniqueness of QuickX lies in its ability to make cross-chain transactions instantaneously with the use of pooling facilitators. This fulfills a long-felt need for the crypto world: connecting different blockchain protocols so that they may communicate with each other.
  • Their main competitors include the Kyber Network and the 0x protocol, which are based on propositions for decentralized exchange and on-chain services.
  • QuickX provides more system components, such as debit cards, which provide direct accessibility of funds from the wallet, and pooling facilitators, which can work both off chain and on-chain.
  • QuickX users’ respective dashboards will display details of all the rates and provide a means to manage portfolios.
  • QuickX excels in other value propositions such as speed, control over operation, interoperability, costs, operation scalability, and more as well.
  • Advantages for QuickX Users:
  • Lower costs for users: The least cost option is selected by default for users by the algorithm. The transaction costs are expected to reduce over time when more and more pooling facilitators join QuickX.
  • 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.
  • A global market: QuickX can expand globally without the need of any physical presence.
  • Total control: Users have full control over their crypto assets. Etc.

 

  • The wallet is accessible from both web browsers and mobile apps. The Android version of the app is already developed and is being tested.
  • The QuickX crypto-debit card allows the user to not just increase the value of the money invested in the various cryptocurrencies, but also spend it, while on the go. With this card, the user spends cryptocurrency just like fiat currency, hassle-free.
  • The card is already in the testing phase. As of January 2018, it has successfully executed transactions worth over USD 100,000 with merchants in different countries.
  • The QuickX protocol enables the swapping of cryptocurrencies instantaneously and safely with negligible fees. For instance, a user can exchange Bitcoins to ETH instantaneously at the market rate.
  • QuickX offers a payment gateway for merchants that can be used to accept customer payments in cryptocurrencies instantaneously, like other online payment gateways. This enables merchants to expand their reach with new customers who are willing to make purchases with their cryptocurrencies.
  • QuickX’s potential market segments can be the following:
  • Different blockchain protocols and wallets,
  • Enterprise solution,
  • Individuals who receive and make payments in cryptocurrency,
  • Individuals and businesses who are likely to become pooling facilitators,
  • Individuals who are transactions facilitators.

 

HYPE:

  • 8.1K+ telegram users, 44K+ followers on Facebook and 829 Twitter followers.
  • They have got 216 subscribers for their official YouTube Channel and 2.6K views for their videos.
  • 4.6 ratings on ICO bench.

 

LONG TERM:

  • QuickX aims to change the status of cryptocurrency from a share-like object to real, spendable currency that appeals to the masses.
  • They want capture multicurrency debit cards, payment gateway and atomic swaps market.

 

EXPERTS REVIEW:

  • “I don’t see proper and enough people in the team who could make the written technical solution. A few main people in the team have not noted in their LinkedIn they work there. The whitepaper is short and not convincing to me. Though the market they aim is very competitive, there should be more clear explanation why they can succeed.” – Igor Karavaev (ico advisor and investor).
  • “Very good and interesting idea, good using blockchain technology, vision is good for me. Many team members, advisors, KYC verification for team members passed and its good, team deserved good rating. Mvp available.” – Vladimir Nikitin (ADVISOR | CONSULTANT | EXCHANGES Listing).
  • “Quickx has a great team, with a proven track record. They have a great team of advisors that can contribute greatly. The company behind the platform has great clients, proving that they are also successful and can reach their goals. The protocol has a great vision and product that can help the crypto-industry. 50 % of tokens sold is a good percentage for industry standards. Awesome project!” – Stephan De Haes (ICO Advisor, Community leader and COO/Co-founder Krypt.ly)

 

TOKEN METRICS:

Token QCX
Pre – Sale Price 1 QCX = 0.07 USD
Price in ICO 1 ETH = 7500 QCX or 1 QCX = 0.0001333 ETH
Country Malta
Platform Ethereum
Website https://www.quickx.io/
Whitelist/KYC KYC & Whitelist
Restricted Areas USA
Pre-Sale It will begin this month itself, dates will be announced soon.
Public- Sale 20th Aug – 20th Sep 2018(Approximate)
Tokens for Sale: 300,000,000
Soft Cap 4,000 ETH
Hard Cap 34,700 ETH
Total Token Supply 500,000,000
Token Supply Breakdown Token Sale – 60%
Liquidity Reserve – 15%
Founders & Team – 13%
Strategic Partnership – 5%
Advisors – 5%
Bounty – 2%
Bonus Public Pre-Sale – First 50% of Token – 15% Bonus
Crowd Sale – Next 25% Tokens – 10% Bonus
Crowd Sale – Last 25% Tokens – 5% Bonus

 

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