0x's native Ethereum token is called ZRX, this word also means a tool to optimize P2P exchange of various assets created on ETH blockchain. 0x protocol can be used as a foundation for platforms with extended functionality required for over-the-counter ERC20 token exchange. Holders of ZRX tokens have a great opportunity to use them in order to generate income and vote for further improvements in the system.
The 0x (ZRX) project was launched in 2016 by William Warren as CEO in cooperation with Amir Bandeali as CTO. They believe that in the nearest feature any asset, such as services, fiat money, real estate, stocks, metals, even video games items, can be converted into an Ethereum token. Global tokenization will definitely lead to emergence of thousands of tokens needed to be then exchanged. The emergence of DEX became the first step in this direction. But despite their truly huge role, they still have some disadvantages. These gaps became the reason to develop a new protocol enabling anyone not only to take part in the decentralized exchange DEX, but also to create relayers storing orders beyond blockchain. ZRX is 0x's own Ethereum token that can be paid as a trading fee for relayers. Every owner of these tokens has the power to influence the entire governance of blockchain, because their authority is proportional to their holdings.
What You Should Know About DEX
Ethereum blockchain that lies in the core of smart contract-based DEXs, is the heart of this platform too. All the related trades and order functions due to which users can control their assets are governed by these smart contracts. Exactly this is the crucial difference between two exchange systems.
If we are talking about DEX, every time, when traders want to deposit their funds into a smart contract, for example, to cancel or fill an order, a blockchain transaction has to be executed. As all transactions are processed by cryptocurrency miners who need to receive a fee (or gas) for their actions, each step needs to be paid.
In addition to the convenience and safety of decentralized exchanges DEX, 0x offers a solution to the mentioned problem. The answer is off-chain order relays used by this Ethereum protocol together with on-chain settlements.
How to Earn ZRX Tokens
To sum up, the protocol we are talking about improves the system of decentralized exchange and enables a user to place an order off-chain which will be filled by another person. In fact, most cycle part is carried out off-chain, and only value transfers are left for on-chain execution. As a result, gas fees for trading operations are considerably reduced.
We have already mentioned so-called relayers, it is the right time to explain this notion. This concept is crucial for Ethereum blockchain that is in our focus.
Relays are essential for broadcasting any order through order books and act as an exchange. But they have no means to execute a trade and only present maker orders broadcasted to the network. In order to complete an operation, the signatures of the taker and maker must be submitted to the smart contract. Then a relayer can get a reward for facilitating the carried out transaction in the form of ZRX token.
How the noncentralized protocol operates has been described dozens of times, but many people are still hesitating and wonder whether the project is worth investing in. We would like to answer this question in simple words and prove the conclusion.
The popularity of ZRX tokens grows day by day, because 0x Ethereum protocol has combined the benefits of both centralized and decentralized systems. This is a good choice for those who are looking for the best compromise between these approaches. Besides, over time this approach has proved itself in practice. Investing in 0x blockchain protocol now is one of the most secure ways for users.
In 2018, ZRX token got the 6th place in Coinbase's cryptocurrency base. It was beaten by such giants as Bitcoin, Ethereum, Ethereum Classic, and a couple of other coins.
Prospects Of ZRX
According to the developers, there are over 30 projects using 0x protocol, the volume of transactions in its network has exceeded $ 750 million.
Most cryptocurrency experts loudly call the project the next huge step in the evolutionary scale of decentralized exchanges. The project has been growing and improving by its developers.
For example, in 2020 the 0x team introduced a programming interface for aggregating liquidity from decentralized exchanges DEX with the help of Ethereum blockchain. Matt Taylor, 0x's Marketing Manager, said that the new set of smart contracts enables gathering data from all popular ETH platforms, and the API "almost guaranteed" to find the best price in the market for every trading pair.
The experience has shown that decentralized exchanges have some strong advantages over centralized ones. ZRX tokens fit into the picture of the future cryptocurrency market perfectly.
How To Buy 0x ZRX tokens
ZRX tokens are not unlimited: 500 million ones are owned by the developers and their partners. The same number of tokens are available for traders.
There are not so many exchanges, where ZRX is available, but P2B is one of the few. You are welcome to buy and sell ZRX tokens here!
Our platform has been working since 2018 for both business clients and private traders. In addition to high security, stable operation, and fast transactions, P2B has a very simple intuitive interface. Besides, our company is licensed in the European Union. Register or log in to buy, sell, or monitor ZRX price changes in real time.