0x (ZRX) 2018-05-04T17:58:09+00:00

0x (ZRX)

Project Description

Purpose

0x is an open and non-rent seeking protocol that facilitates trustless, low friction exchange of ERC20 tokens. Developers can use ZRX as a platform to build exchange applications on top of (0x.js is a Javascript library for interacting with the 0x protocol). For end users, ZRX will be the infrastructure of a wide variety of user-facing applications i.e. 0x Portal, a decentralized application that facilitates trustless trading of Ethereum-based tokens between known counterparties.

ZRX is currently used to pay matching fees to relayers and it will be required to vote on the development of the 0x protocol once the governance system is put into place.

Strengths

– There are already 14 DApps and 11 relayers announced as using the protocol today

– Decentralized exchange

– ZRX is very new-user friendly as it has absolutley no restrictions for adopters, they can basically use it for free as they like. (Fees, orderbook sharing, etc)

– Transactions are off-chain which helps relieve some pressure on the Ethereum blockchain

Weaknesses

– There is no governance yet

– The 0x protocol only works with ERC20 tokens

– Relayers are incentivized to have as much ZRX as possible, which will make the governance less decentralized

Network Status

The 0x network is up.

0x Roadmap

Q1 2018:

– Governance R&D
– Reusable relayer UI components

Q2 2018:

– V2.0.0 deployed on mainnet
– Trade explorer v1 released
– Governance whitepaper

Governance

Decentralized governance is an ongoing focus of research; it will involve token voting with ZRX. Ultimately the solution will maximize security while also maximizing the protocol’s ability to absorb new innovations. Until the governance structure is formalized and encoded within 0x DAO, a multi-sig will be used as a placeholder.

The total supply of ZRX tokens is fixed and there is no continuous issuance model. Users that facilitate trading over 0x protocol by operating a Relayer earn transaction fees denominated in ZRX; as more trading activity is generated, more transaction fees are earned.

Similarities

Other decentralized exchanges include Kyber and Airswap.

Notable partnerships

Partnered with many companies that are using its protocol including Augur and Maker.

Exchange

ZRX is traded mostly on Binance, Bitfinex, Poloniex, Huobi and HitBTC.

Stack

A protocol layer built on top of the Ethereum blockchain.

Community

Reddit: 8 571 subscribers
Twitter: 80.6k followers

Price history

Jan-31-2018: 1.74 USD
Dec-2017: 0.12 USD
Sept-2017: 0.39 USD
Aug-16-2017: 0.11 USD

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This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations

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