0x (ZRX)

Last Updated: 25/08/2022

What Is 0x (ZRX)?

Without relying on centralized intermediaries like conventional cryptocurrency exchanges, users may effortlessly trade ERC20 tokens and other assets on the Ethereum blockchain thanks to the 0x infrastructure protocol.
By combining a number of open-source, publicly auditable smart contracts, 0x is able to create a flexible, low-friction trading protocol that product developers can easily incorporate into their creations.

The ZRX utility coin, an ERC20 token, powers the protocol. ZRX tokens are used to pay nodes (sometimes referred to as relayers) that run an off-chain order book and provide user-facing software that displays this information and enables users to create, fill out, and cancel transactions (as trading fees). ZRX can also be used by holders to suggest and vote on protocol improvements as part of platform governance. ZRX holders can now assign their stake to a market maker to earn passive benefits while maintaining their voting rights, thanks to new functionality added by 0x in 2019.

0x supports both fungible (ERC20) and non-fungible (ERC-723) tokens, in contrast to many other Ethereum decentralized exchange protocols. As a result, it may be used for the permissionless trading of a wide variety of assets, providing holders access to more than a dozen different apps to buy, sell, and swap the vast majority of Ethereum assets. The 0x protocol can be used for a variety of use cases, such as decentralized exchanges, OTC trading desks, exchange functionality for DeFi protocols, and marketplaces for digital products and services in the vein of eBay. It is possible to incorporate 0x into products where asset exchange is a secondary function, such as for in-game purchases and portfolio management systems, even though it can be used to create very flexible exchange solutions.

Liquidity takers on the 0x protocol are charged a fee in the form of ZRX tokens; this fee is intended to encourage market maker (relayer) liquidity. Additionally, users must pay a protocol fee in Ether (ETH), which is used to cover the gas costs associated with any transactions they carry out. As an open-source system, 0x is not entitled to a portion of this income; instead, it is funded by its initial ICO proceeds and ZRX tokens that have been unlocked as team and developer incentives.

The ZRX token has a defined maximum supply that will never be exceeded, similar to many other digital assets. The limit is 1 billion ZRX. Only a small portion of this potential supply is now locked up for staking rewards, with approximately three-quarters of it already in circulation.

On top of the Ethereum blockchain, 0x is constructed. Because of the huge Ethereum miner and node network's joint efforts, it is therefore secured from attacks. Regarding the underlying smart contracts, version 3 of the protocol has been examined by a number of outside companies, including ConsenSys Diligence, who looked for underlying vulnerabilities, backdoors, and redundant functionalities; no significant flaws were found.

The v2.0 smart contract did, however, include a flaw that was eventually fixed by the 0x core team. An unbiased researcher discovered this vulnerability, which was not used. To help find and fix any problems before they may be exploited, 0x continues to run a significant bug reward program.

Team

Will Warren - Co-founder & CEO - Will Warren has had 1 past job as the Graduate Research Assistant at Los Alamos National Laboratory.
Amir Bandeali - Co-founder & CTO - Amir Bandeali has had 1 past job as the Trader at Chopper Trading.

Roadmap

Where to store 0x (ZRX)

0x tokens are built on the Ethereum (ETH) network and can be stored in any wallet compatible with ERC-20 tokens. All ERC-20 tokens including Request token can be stored on the Ethereum blockchain using MyEtherWallet, allowing users to interact with the network without additional software.

Another option to keep your 0x (ZRX) tokens secure is Trust Wallet – a multi-currency mobile wallet that enables users to simultaneously store a variety of digital assets in one place. Popular among traders and gamers, the beginner friendly mobile wallet may be appropriate for users looking for a convenience and accessible app, with trusted security and backup options.

Similarly, a user-friendly option to keep your $ZRX secure can include MetaMask, a leading browser wallet extension popular amongst DeFi platforms and highly praised by developers. Users can integrate with the network’s Liquidity Mining pools by connecting your MetaMask wallet.

If you are looking to store 0x (ZRX) tokens secure and offline we recommend using trusted hardware providers such as Ledger and Trezor.

Lastly, Exodus is a 0x (ZRX) compatible custodial option, Exodus has a very user-friendly interface and supports most cryptocurrencies. Your 0x (ZRX) wallet address can be prominently displayed within Exodus ensuring ease of use when sending and receiving this coin. The platform also presents a real time portfolio valuation and tracks the value of digital assets held.

Always conduct your due diligence and research into any wallet provider you consider.

Where to buy and sell 0x (ZRX)

You can Buy & Sell 0x (ZRX) by heading over to the Buy Coins page of our website. 0x (ZRX) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying $ZRX has never been easier, simply place your order and provide your wallet address. Once your payment arrives 0x (ZRX) will be sent directly to your wallet.

If you choose to Sell 0x (ZRX) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on our Sell Coins page.

0x (ZRX) Resources

Website: https://www.0x.org/

Block Explorer: https://etherscan.io/

Twitter: https://twitter.com/0xproject

Github: https://github.com/0xProject

Disclaimer: The information provided in this article is intended for informational purposes only. It is the reader's responsibility to complete their own research and due diligence.