IQuick based on the Ethereum blockchain. IQuick combines unique components of a smart contract that combine to create a flexible protocol called IQ Protocol.
IQ Protocol operation scheme
IQ Protocol is a tuned chain of smart an automated payment management system, a ready-made software solution for organizing the process of conducting transactions in cryptocurrency, which guarantees a high level of protection for participants. IQ Protocol ensures stable operation of the payment gateway and connects it with the reserves and partners of the company.
The IQ protocol operation scheme combines flexibility and simplicity with high reliability and security. IQuick is a universal solution for online payments or exchange payments.
1. IQuick uses reserves to exchange assets when you pay for a product or service using the IQuick payment gateway. You can instantly send funds to the merchant with the selected currency. You need not converting assets with a crypto exchanger to the selected currency on the client’s wallet. If you use IQuick the transaction happens immediately at the time of payment.
2. The service uses an open API of decentralized exchanges and large electronic payment systems for the exchange of cryptocurrency and FIAT volumes exceeding the IQ reserves. If you need to exchange digital or FIAT currency, which is not available enough in IQ reserves, the system automatically exchanges on decentralized exchanges (EtherDelta, Idex, etc.) or other fiat platform partners.
3. By attracting FIAT and cryptocurrency partner payment systems, within the IQuick application, you can change almost any liquid currencies that also pass through the IQ Protocol.
4. Buying the liquid financial assets regularly replenishes the IQuick reserves to the required balance. This ensures the continued availability of sought-after currencies and the maintenance of liquidity reserves.
5. A companies and trading platforms connection to the IQ Protocol system occurs via an open API gateway. Openness makes our service available to a wide audience of merchants who can use all the services and features of IQuick.
6. After connecting the site to the iqouck.io or IQ Protocol service, it automatically enters the IQ Marketplace (for subscription services), gets an IQ token. You can use it as payment as another cryptocurrency.
7. IQuick reserves are provided by the IQ token. You can sell token to the service at a rate that is determined by dividing the number of reserves by the total number of tokens in the system.
8. The IQuick service receives deductions in the established commission form, and the owners of tokens receive a strengthening of the coin by increasing the number of reserves with each transaction.