CRYPTOKID: QuickX Protocol: Quickest Cross Blockchain Transactions

The Blockchain Technology

Plenty of startups are now using blockchain for everything, from music sharing to global payments, from monitoring diamond sales to the legalized marijuana industry. This is why the technology has a vast potential. When it comes to digital transactions and assets, you can place anything on the blockchain.

Blockchain is basically a distributed database that keeps shared records. These records are blocks, and every block of encrypted code has a record of the block history before it. Each block includes time-stamped information on the transactions made down to the second. The effect is a chain of those blocks to get them together; hence, its name.

A blockchain has two major components: an immutable ledger that the network keeps, and a decentralized network verifying and facilitating transactions. Everyone with access to the network could see this shared transaction data, but there is no possibility that the records can be corrupted or hacked. This decentralized trust means there is no one organization that controls the data, be it a tech giant or a big financial institution.

Challenges of Blockchain

Blockchain technology has the potential to revolutionize the world the same way the internet did- maybe even better. Already, it’s proving its capabilities in areas like finance, identity management, governance, asset management and many more. Blockchain network features such as; transparency, immutability, security, cost-effectiveness, and trustlessness will forever change the way institutions and individuals operate.

Nonetheless, most real-world businesses have been slow to adopt this technology because of two major challenges currently associated with it.

1. Connectivity

In a conventional crypto world, each Blockchain has to create a complete ecosystem with its users, native currency and DApps. This has resulted in Blockchains operating in silos, which makes it difficult for the networks to communicate with each other. And without connectivity, direct transfer of assets between Blockchains is indeed an uphill task.

As you can rightly guess, this lack of interoperability is a big hindrance to the mass adoption of Blockchain technology.

2. Scalability

Leading Blockchain networks such as Ethereum and Bitcoin have trouble supporting massive transactions on their network. Network congestion here often results to slow transactions and an increase in transactions fees.

Therefore any emerging Blockchain network hoping to host users at a global capacity and meet the practical needs of businesses has to increase its blocktimes tremendously.

QuickX: The Revolution of Blockchain Transaction

QuickX is a novel protocol designed specifically to cure the many fatal flaws that plague blockchain and cryptocurrencies today. It performs transactions off the chain for 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.

QuickX intends to provide effective solutions to some of the critical problems with blockchain technology such as time, cost, scalability and cross transfer of blockchain assets while making cryptocurrencies suitable for mass adoption in day-to-day transactions and provide solutions to enterprises.

QuickX provides transfer of different cryptocurrencies between two parties instantly just like any other traditional electronic transfer mechanism. Thus allowing transactions to happen seamlessly and instantly without user having to pay a high network fees as it is taken care by the pooling facilitators in the network who facilitate the cross-chain transactions to take place instantly!

QuickX Features

QuickX is a platform that effectuates the transfer between users in a rapid manner and with low transaction fees. The platform also includes a multicurrency wallet, debit card, swap action, and payment gateway. With the various elements available through the Quick X protocol, users will be able to conduct transactions that replace their traditional banking system. Further, the platform represents a new and more powerful approach to transactions which users may be hard pressed to find elsewhere.

QuickX Benefits

There are numerous advantages related with Quick X. Here are the main favorable circumstances of this platform with the goal that users know what to anticipate:

Time And Speed

QuickX basic role is to give users more noteworthy levels of speed and a significantly shorter time allotment for transactions. As the brand explains, the transactions here can take a matter of seconds so users can satisfy their errand and proceed onward with their day without having to stress over the procedure.

Transaction Fees

QuickX platform allows users to lead their transactions at a low cost. Here, there are no intermediaries involved, which tend to drive up the cost. Here, users can lead their transactions without having to use up every last cent Further, because the transactions are quick, users are certainly getting the incentive also.

Versatility

QuickX platform offers a high level of versatility as well. This quality empowers users to lead the transactions that they have to without being hindered by constraints that can adversely obstruct their prosperity. As the brand explains, versatility is a typical issue and this platform means to address it great.

Obviously, there are numerous advantages related with the Quick X Blockchain. This is a powerful, viable, and solid platform that gives users the help that they require in conducting transactions.

QuickX Team

QuickX Token and ICO Details

QuickX tokens, QCX, is an Ethereum ERC-20 token. The QCX token can be used as the fuel for every transaction done using the QuickX platform, whether it is off-chain transactions within a blockchain, or cross-chain transactions using pooling facilitators .All transactions that take place on the QuickX platform need QCX to be paid as transaction facilitation fees.

In order to raise funds for the platform development, QuickX launches an Initial Coin Offering (ICO) According to the roadmap, https://www.quickx.io/roadmap, QuickX token sale will be held on Q3 2018. The estimated token price is about 1 ETH = 7500 QCX, and the overall token supply is 500,000,000 QCX. QuickX sets an initial hard cap of 34,700 ETH.