Due to numerous requests in a PM we have prepared comparative analysis with the project NEX
1. Idea- NEX want to create DEX, which will be able to reach the level of existing successful CEX solutions in terms of service quality and performance.
- Qurrex want to creation of the world’s first in-demand decentralized exchange with turnover exceeding 1 billion USD a day. Qurrex would economically encourage the liquidity providers to participate in the organization of trading by means of providing the liquidity and act as Exchange.
2. ArchitectureNEX
- Decentralized exchange: Off-chain matching engine + trade execution smart contract + payment service where global assets such as NEO and GAS can be converted to tokens that can be transfered directly by smart contracts, making them compatible with the exchange.
- Principle of operation: orders are signed and sent from user addresses to the matching engine, where they are processed. Once the order is matched off-chain, the engine will call the smart contract to execute the order. Matched orders are signed off-chain and committed back to user accounts on the blockchain.
- To ensure trust, NEX provides a public record of orders, so that users can verify orders matched off-chain and claim an award in the event of incorrect behavior.
- Complex orders and cross-chain trading.
Qurrex
- Decentralized exchange based on decentralized ledger protocol with own matching engine, SOR, order book, local routing, API where centralized exchange is one of the liquidity node in decentralized exchange.
- Principle of CEX operation: orders go through one of API to Risk-Engine for verifying after send to smart order router for choose CEX engine execution or DEX node. Information about orders send to clearing, posttrade and market data systems.
- Principle of DEX operation: trade orders are registered and verified in master node, after go to liquidity pool nodes (one of which is operated by CEX) where its matched by local matching engine.
- In blockchain published only executed orders.
- Clearing is carried out either in the parent network (ETH, BTC etc).
- Centralized and decentralized exchanges can operate autonomously.
- Complex orders and cross-chain trading.
- Any cryptoexchange can own a decentralized liquidity node of the Qurrex DEX.
3. Type of tokenNEX – Security
Qurrex – Utility
4. APINEX
- No information provided.
Qurrex
- mBinary
- FIX/FAST
- WebSocket
- REST
5. PerformanceNEX
- No information provided.
Qurrex
- 10 000-15 000 transactions per sec
6. Business modelNEX
- Clients: retail.
- Fiat custody: banking partnerships for the first fiat gates in DEX.
- License – Organized Trading Facility license.
- KYC, AML – No information provided.
Qurrex
- Clients: institutional, brokers, other exchanges, retail.
- Fiat custody in DEX through Qurrex CEX or owners of liquidity node pool (brokers other institutional players)
- License – yes.
- KYC, AML: necessarily for all users.