0x Review: Is ZRX Ready to Moon?
- Published on: 9/27/2019
- ► Complete Review: https://www.coinbureau.com/review/0x-zrx/
⛓️ 🔗 Helpful Links 🔗 ⛓️
► Website: https://0x.org/
► Whitepaper: https://0x.org/pdfs/0x_white_paper.pdf
► GitHub: https://github.com/0xProject
📱️ Socials 📱
► Official Blog: https://blog.0xproject.com/
► Twitter: https://twitter.com/0xproject
► Discord: https://discord.gg/d3FTX3M
📝 Project Overview 📝
0x is a decentralised exchange protocol that enables the peer to peer exchange of Ethereum based cryptocurrencies.
This is a protocol that wants to streamline this trading with off-chain orders using Ethereum powered smart contracts.
⚙️ Technology ⚙️
When you trade tokens on the 0x protocol, you are doing so on an off-chain relay.
This is different from other DEXs where the transactional smart contracts are executed on the main chain.
Relayers are the key to 0x's off-chain transactions. They are responsible for broadcasting the orders across the public or private order books, as well as bringing liquidity to the network by hosting the order books.
An order is only filled once the order taker has submitted their own signature along with the order maker’s to the exchange’s smart contract. The Relayer is then compensated for their work by way of ZRX tokens.
When these trades are sent, they are called “broadcast” orders. Anyone can send, see and fill these orders.
0x has built a governance component into their network. Those who hold the ZRX token are able to vote on certain proposals that will affect the blockchain.
Another benefit of the token is that the smart contracts are open source and the protocol is application agnostic.
Another additional feature that is included with 0x is their “asset swapper” and the related 0x instant
💰️ Token 💰
The 0x protocol has a native currency which is called ZRX.
ZRX tokens are used to pay the relayers in order to route the orders. They can also be used in order to vote on protocol improvements.
The 0x team issued these tokens in a crowdsale ICO that took place way back in 2017. They were able to sell 500 million ZRX tokens at a price of 7 cents each.
The ICO was well distributed and spread out across over 13,000 Etheruem addresses.
👨💻️ Team, Partners & Development 👨💻
0x is based in San Francisco and there are over 38 core members. They have backgrounds ranging from Engineering to Finance and software development.
The team has been quite active working on their protocol. This is something that you can verify by diving into their GitHub repository.
0x has a pretty strong advisory pool. These include the likes of Fred Ehrsam who is a co-founder of Coinbase as well as Joey Krug who is the Pantera Capital Co-CIO.
📈 Trading & Wallets 📈
ZRX is listed on the likes of Binance, Coinbase Pro, MXC, BitMAX etc.
Volume is well spread out across these exchanges which means that the liquidity is not dependent on a singular market.
Order book liquidity is also strong which you can confirm by looking at the ZRX / BTC order books on Binance.
ZRX is an ERC20 token which means that you have quite a large array of wallets that you can use - anyone that supports Ethereum.
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.