meterqubes as been designed for both active traders and beginners and optimized with
Artificial Intelligence and Machine Learning powered tools to help the crypto community
maximize their trading profits.
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Centralized vs decentralized exchanges
Centralized exchanges operate as intermediaries, similar to third-party providers working as middlemen, so as to streamline trading on their platform. As a result, centralized exchanges collect trading fees which are usually the main revenue source for them. The process of trading is self-explanatory however, the ecosystem itself has ample restrictions. The biggest drawback that is attributed to centralized exchanges is stemming from their centralized architecture, which grants an absolute control over user’s funds to a single entity, thereby rendering users vulnerable in the event of any adversities occurring on an exchange.
Problems and challenges
Cryptocurrency exchanges, unlike hedge funds, are still missing out on major trader-centric tools necessary for enhanced and automated trading environment. AI-based algorithms have only been theoretically applied within the cryptocurrency exchanges and no actual MVP has been launched to date. Another major pain point is the lack of advanced analytical tools in the hands of crypto traders. Beginners and advanced traders alike have to do with basic charting tools that do not provide any edge in the market. There are multiple vendors touting trading solutions but they are either unreliable or too limited in scope.
Binance reported annual profits to the tune of $446 million in 2018. CoinBase had reported revenue of more than $500 million for 2018. Crypto trading volumes are touching all-time highs and with the prospect of institutional investors entering the cryptoinvesting space, the industry is poised to grow multi-fold in the next decade. As per a report by CryptoCompare in October 20184, the total average 24h-volume produced by the top 5 decentralized exchanges totals just under 2.4 million USD. This constituted just 0.4% of total exchange volume.
The web platform of MeterQubes is based on the Ethereum Blockchain and uses the Hydro Protocol. Hydro Protocol defines the rules for executing decentralized orders and provides the mechanism for order matching. This will power “peer-topeer swaps” a.k.a atomic swaps that allows trades to be made directly from one user’s wallet to another. This removes the need for escrow, deposit or any third party service. The stored tokens in the traders’ wallet will be eligible for atomic swap via smart contracts once the consent of both the maker and taker has been confirmed.
MeterQubes’ wallet app will be introduced on both Android & iOS. Cross-Chain Trading will be enabled through the implementation of the MQ Protocol, linking multiple blockchain
infrastructures. As mentioned earlier, the MetaMask wallet will be used as the wallet on the website initially but will be replaced by MeterQubes’ in-house developed wallet, MQ-Wallet. Later, Metamask will only function in the web-app and shall be replaced by MQ-Wallet on mobile application, which will function on both the web and mobile applications.
Quboid is MeterQubes flagship trading bot that is currently being developed. It is a data driven automated trading engine that uses a well-balanced mix of machine learning algorithms, neural networks, natural language processing, artificial intelligence, technical analysis, on-chain data, and fundamental analysis to identify trading opportunities and execute trades with the maximum probability of success. Quboid’s advanced deep learning algorithms coupled with natural language processing and neural networks study the
Cryptocurrency space via news & blogs, forums, social media.
Ahmed Al Marjeby CO-FOUNDER & CHIEF EXECUTIVE OFFICER
Fahd Saifuddin CHIEF TECHNOLOGY OFFICER
Neville Epa CHIEF TRADING STRATEGIST
Quote This article is writing on 23 July 2019 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: [email protected] Or Whatsapp Us- +13098896258
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