QuickX is a protocol that is created with the aim of changing the outlook of cryptocurrency. Its whitepaper states that the QuickX platform intends to transform the position of cryptocurrency from a share-like item to real tradable currency that can fulfill the demand of the masses.
QuickX is a decentralized platform that intends to offer effective solutions to some serious issues concerning blockchain technology. These problems may include scalability, cost, time, and cross-transfer of blockchain items. QuickX identifies these problems in the current blockchain ecosystem that has the possibility to hamper the mass adoption of various blockchain items as a source of exchange for daily transactions. QuickX seeks to build a decentralized platform that can offer a solution to speed, time, scalability, and cost by carrying out transactions off the chain for similar crypto assets.
QuickX features a multicurrency debit card, multicurrency wallet, a payment gateway, and a cryptocurrency swap. These features of the platform make cryptocurrencies feasible in the non-virtual mode of global transactions suitable for the masses. QuickX also provides different crypto-centric products like the mining watch and CNexchange. CNexchange is QuickX’s decentralized exchange through which users can exchange their desired cryptocurrencies from the available currencies.
The native token of the platform is QCX, which is built on the Ethereum blockchain and is an ERC20 token. QCX serves as the fuel for all the transactions taking place using the QuickX platform. The transactions on the platform require QCX tokens to be paid as facilitation fees. The collected fees in total are shared among wallets, partners, and decentralized exchanges that influence the transaction, and the reserved liquidity pool of the platform. The collected QCX in the reserve liquidity pool gets burned and removed from circulation.
