QuickX Protocol: Fast Cross-chain Transactions and Everyday Payment Protocol

What is QuickX Protocol

Friends, imagine how we use mobile payments or bank transfers in daily life—fast and convenient, right? But in the blockchain world, especially when transferring between different cryptocurrencies, we often encounter slow speeds, high fees, and complex operations. QuickX Protocol (QCX for short) acts as a “fast lane in the blockchain world,” aiming to solve these pain points and make cryptocurrency transactions as quick and low-cost as our everyday electronic payments, even enabling transfers across different blockchain networks.

This project hopes to transform cryptocurrencies from investment assets that resemble “stocks” into “real money” that we can use anytime, anywhere in daily life. Whether it’s person-to-person transfers (C2C), merchant payments (B2C), or business-to-business payments (B2B), QuickX Protocol aims to provide solutions. Typical use cases include online or offline shopping payments, as convenient as swiping a bank card. To achieve this, QuickX Protocol has designed a series of tools, such as multi-currency debit cards, multi-currency wallets, payment gateways, and crypto exchange functions, making real-world applications of cryptocurrencies more feasible.

Project Vision and Value Proposition

QuickX Protocol’s vision is ambitious: it hopes to connect different blockchain protocols, just as the internet connects computers worldwide, enabling them to “communicate” and transact freely. Its core value proposition is to address several key issues facing current blockchain technology:

• Time and Speed: Traditional blockchain transactions, such as Bitcoin, may require waiting several minutes or longer for confirmation, which is unacceptable for daily payments. QuickX Protocol aims for instant transactions.
• Cost: Blockchain transactions often come with fees, especially when the network is congested. QuickX Protocol seeks to significantly reduce transaction costs.
• Scalability: Existing blockchains can only process a limited number of transactions per second, which cannot meet large-scale application needs. QuickX Protocol is committed to improving transaction throughput.
• Cross-chain Interoperability: Different blockchains are like different countries, making direct asset transfers difficult. QuickX Protocol’s goal is to break down these barriers and enable seamless transfers between different cryptocurrencies.

To achieve these goals, QuickX Protocol takes a unique approach. It processes transfers of the same crypto asset via “off-chain transactions,” similar to internal bank transfers that don’t require central bank (main chain) approval, greatly increasing speed and reducing fees. For cross-chain transfers between different crypto assets, it introduces “Pooling Facilitators”—these facilitators provide liquidity, ensuring fast exchange and transfer between different coins. The project has compared itself to some centralized exchanges and decentralized swap platforms (like Shapeshift), emphasizing its advantages in speed, control, interoperability, and cost.

Technical Features

The technical core of QuickX Protocol lies in its unique transaction processing methods:

• Off-chain Transactions

  For transfers of the same cryptocurrency, QuickX Protocol uses “off-chain” methods. It’s like you and your friend both have accounts at the same bank; transfers between you can be completed internally without central bank (main chain) approval. This greatly increases transaction speed and reduces fees.

• Pooling Facilitators

  When transferring between different types of cryptocurrencies, such as exchanging Bitcoin for Ethereum, QuickX Protocol utilizes “Pooling Facilitators.” Think of these facilitators as currency exchange points—they prepare reserves (liquidity) of various cryptocurrencies in advance, and when users need cross-chain transfers, the facilitators instantly complete the exchange and transfer. This mechanism enables fast asset interoperability between different blockchains.

• Compatibility

  QuickX Protocol is compatible with blockchain wallets that use three basic features: Hashlock, Timelock, and Multisig. These technologies are fundamental to ensuring the security of off-chain transactions and cross-chain atomic swaps.

• Technical Architecture

  QuickX Protocol is a decentralized platform. Its interoperability backbone is these Pooling Facilitators. Notably, the QCX token itself is an ERC20 standard token built on the Ethereum blockchain.

Tokenomics

The QuickX Protocol ecosystem revolves around its native token QCX (QuickX Protocol Token).

• Token Basic Information

  • Token Symbol: QCX
  • Issuing Chain: Ethereum (ERC20 standard token)
  • Total Supply: 500 million QCX
  • Circulating Supply: There are discrepancies in circulating supply information for QCX. Some sources show 0 QCX, others show 25 million QCX or about 499 million QCX. This inconsistency should be noted.
  • Inflation/Burn: The QuickX platform charges QCX as transaction fees, which are placed into a reserve liquidity pool and eventually burned, reducing market circulation—a deflationary mechanism.

• Token Utility

  QCX is the “fuel” for all transactions on the QuickX platform. Users must pay QCX as fees when transacting on the platform. Additionally, QCX holders can enjoy cashback rewards and benefits such as waived debit card issuance fees.

• Token Allocation and Unlocking

  According to the whitepaper, QCX token allocation is as follows:

  • Token Sale: 60% (of which 50% or 250 million QCX for public sale)
  • Liquidity Reserve: 15%
  • Founders and Team: 13%
  • Strategic Partnerships: 5%
  • Advisors: 5%
  • Bounty Program: 2%

  The initial ICO price was about $0.072, or 1 ETH for 7,500 QCX.

Team, Governance, and Funding

• Core Members

  QuickX Protocol’s co-founder and CEO is Vaibhav Adhlakha, and the other co-founder and COO is Kshitij Adhlakha.

• Team Features

  QuickX Protocol is a project under Secugenius, a cybersecurity company founded in 2010. The company has a certain reputation in cybersecurity and has won awards for technological innovation.

• Governance Mechanism

  Currently, public information does not detail the specific decentralized governance mechanism of QuickX Protocol.

• Funding Status

  QuickX Protocol raised $1.2 million from investors in Q4 2017. The project raised a total of $1.6 million through ICO and private placement. The ICO soft cap was 4,000 ETH, and the hard cap was 34,700 ETH.

Roadmap

The early development roadmap of QuickX Protocol shows its planning from research to product launch:

• Q3 2016: Started blockchain technology research.
• Q1 2017: Planned business modules and allocated team resources.
• Q3 2017: Applied for QuickX technology patent.
• Q4 2017: Raised $1.2 million from investors.
• Q2 2018: Released Minimum Viable Product (MVP), launched decentralized multi-currency wallet Android version.
• Q3 2018: Conducted token sale, launched full-featured multi-currency wallet Android version.
• Q4 2018: Started QuickX platform internal testnet, launched multi-currency wallet iOS version and multi-currency crypto debit card.
• 2019: Project officially launched.
• August 6, 2021: QCX token listed on Bithumb Global (now BitGlobal) exchange.

It should be noted that currently available roadmap information mainly covers the early stages of the project; the latest future plans and key milestones are not detailed in accessible sources.

Common Risk Reminders

Friends, it’s very important to be aware of risks when learning about any blockchain project. QuickX Protocol also has some potential risks:

• Technical and Security Risks

  Although the whitepaper mentions “off-chain security protection mechanisms,” any technical system may have vulnerabilities. Smart contract security, network attack risks, and reliance on Pooling Facilitators’ security are all factors to consider. If any of these aspects fail, users’ assets may be at risk.

• Economic Risks

  The cryptocurrency market itself is highly volatile, and QCX token prices may fluctuate sharply. More importantly, according to some third-party data platforms, QuickX Protocol is currently marked as a “deadpooled” company. This means the project may no longer be active or has ceased development. Additionally, some platforms show 24-hour trading volume as 0 and inconsistent circulating supply data, all indicating very low project activity and market liquidity, with significant economic risk.

• Compliance and Operational Risks

  Regulatory policies for blockchain and cryptocurrency are still evolving globally. The project may face compliance challenges in different jurisdictions. Being marked as “deadpooled” is the biggest operational risk, meaning the project may not realize its original vision and commitments.

Verification Checklist

When researching any project in depth, here are some key pieces of information you can verify yourself:

• Block Explorer Contract Address: The Ethereum ERC20 contract address for QCX is 0xf9e5...c79aee. You can check this address on Ethereum block explorers (such as Etherscan) to view token holder distribution and transaction history.
• GitHub Activity: No QuickX Protocol GitHub repository or activity information was found in current search results. For technical projects, GitHub activity is an important indicator of development progress and community engagement.
• Official Website: https://www.quickx.io/
• Whitepaper: https://www.quickx.io/whitepaper/QuickXProtocolv1.7.pdf (also technical whitepaper and one-pager)
• Social Media: You can find QuickX Protocol’s official accounts on Facebook, Twitter, Reddit, LinkedIn, Telegram, YouTube, and Medium to learn about community activity and latest announcements.

Project Summary

QuickX Protocol (QCX) proposed a highly attractive vision in its early days, aiming to solve core issues of blockchain technology in speed, cost, scalability, and cross-chain interoperability, hoping to bring cryptocurrencies into large-scale daily use. Through off-chain transactions and Pooling Facilitators, it sought to enable instant, low-cost, and cross-chain transfers of crypto assets. The project team came from a company with a cybersecurity background, received early funding, and published a detailed roadmap and product plan.

However, it must be emphasized that according to the latest information, QuickX Protocol is currently marked as a “deadpooled” company by some data platforms. This means the project may no longer be active, and its original grand goals may not have been realized or have ceased to progress. Additionally, inconsistencies in token circulating supply data and the lack of recent active development and community updates further confirm this.

Therefore, if you are interested in QuickX Protocol, be sure to conduct thorough due diligence. This introduction is for informational purposes only and does not constitute investment advice. Cryptocurrency investment is extremely risky—please exercise caution.