0x (ZRX)

The exchange rate of one ZRX at 12:51 UTC is 0.5583$

Chart | Average rate

“0x” (ZRX) is an open protocol used to create decentralized exchanges on the Ethereum blockchain. The 0x project uses off-chain transaction relays and smart contracts. Protocol users pay for the work of relays with their own ZRX token. In addition, the ZRX token is used for decentralized management of the protocol update system. ZRX token holders have the right to vote, depending on the number of tokens, in matters of further improvement of the protocol.

The goal of 0x is to eliminate the inefficiency of decentralized cryptocurrency exchanges. While decentralized exchanges are good in terms of security, they lag behind centralized exchanges in terms of user operating costs (higher gas fees) and affordability (slow operation). The 0x protocol enhances decentralized exchanges by using off-chain transaction relays along with on-chain settlement.

Unlike many other Ethereum decentralized exchange protocols, 0x supports both fungible (ERC20) and non-fungible (ERC-723) tokens. Therefore, it can be used for unlimited trading of a wide range of assets, giving users the ability to buy, sell and exchange most Ethereum assets through more than a dozen different applications.

The 0x protocol has a wide range of applications, including eBay-style marketplaces for digital goods and services, OTC marketplaces, DeFi protocols, and conventional decentralized exchanges.

0x can also be used in products where asset exchange is not a core feature, such as in-app purchases and portfolio management platforms.

The 0x core team was founded by Will Warren (CEO), an applied physics researcher at Los Alamos National Laboratory, and Amir Bandeali (CTO), a trader at DRW in October 2016. 0x is headquartered in San Francisco and has members all over the world.

The team created “0x OTC”, a web application that allows users to trade ERC-20 tokens directly on the Ethereum blockchain using the 0x protocol. They also created “0x.js”, a JavaScript library that simplifies the process of building web applications on top of the 0x protocol.

The ICO took place on August 15, 2017 and raised $24 million.

0x is supported by “Fintech Blockchain Group”, “Pantera Capital”, “Polychain Capital”, “Jen Advisors” and “Blockchain Capital”.