0x (ZRX) the open protocol for decentralized exchange of Ethereum tokens
0x is creating a protocol using Ethereum smart contracts for anyone in the world to operate a decentralized exchange.
The team behind the 0x believes that there will be thousands of Ethereum tokens in the future and there will be a need to trustlessly and efficiently exchange them.
The protocol is already used by some exchanges meaning its operational.
0x ran an ICO where they raised $24M in August 2017
Usage and Tokens
The project tries to implement the vision where forms of value are tokenized on public blockchains. This includes fiat currencies, stocks, bonds, commodities, debt instruments, real estate, video game items, digital collectibles, software licenses, reputation etc
To achieve that they are trying to allow people to easily exchange the tokens via the protocol.
0x has its own Ethereum token, ZRX, which is used to pay trading fees to Relayers for their services.
However, the main purpose for ZRX is decentralized governance over 0x protocol’s upgrade system, meaning owning ZRX gives you a say proportional to your holdings in how the protocol should be improved over time
The big milestone was the release of the 0x protocol v2.0. Version 2.0 brings further modularity and extensibility, allowing developers to address many new use cases.
The new upadted roadmap supposed to be published at the end of this year.
The biggest recent development was ZRX being added to Coinbse joining the existing 5 coins: BTC, ETH, BCH, ETC and LTC. This is the first tokens added to Coinbase after a long time.
There are several relay exchanges already using 0x with the biggest ones being: DDEX, Radar Relay, Paradex and recently The Ocean.
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