Today on “What’s on weiDex” we are talking about 0x (ZRX) project.
- About the project
0x is an open, permissionless protocol on the ethereum blockchain, which enables the peer-to-peer exchange of ethereum-based tokens. As such, it can be used by anyone to operate a decentralized exchange, although sometimes 0x itself is also called a DEX.
2. Main features of 0x Protocol:
- AMM Smart Contracts — asset’s price adjusts in accordance with market forces and market participants on either side of the trade. It uses self-inflicted restraints on supply to make sure that assets remain insensitive to market liquidity.
- State Channels — decrease transaction time exponentially
- Point-to-point Orders — two parties can directly exchange tokens between each other by using any communication method they prefer for message relaying
- Broadcast Orders — do not specify a taker address. As a result, anyone who intercepts the order can fill it in. The so-called “Relayers” facilitate trades between Makers and Takers
- Decentralized governance — all 0x stakeholders are represented fairly and equally throughout “community managed token registry”, “community veto power” and “liquid democracy”.
3. What can the ZRX token be used for?
0x has its own token ZRX which is used to pay transactions and governance fees. In the first case, users pay fees to the Relayers who maintain the decentralized exchange by using the 0x protocol. The second use case is the payments done for the decentralized governance of the protocol. This means that those who hold ZRX tokens are given complete control as to how the 0x protocol changes over time.
website: https://0x.org/
OpenMarketCap: https://openmarketcap.com/cryptocurrency/zrx-usd Whitepaper: https://0x.org/pdfs/0x_white_paper.pdf
If you need more information you can find us on:
Website: https://weidex.market
Exchange: https://app.weidex.market
Discord: https://discord.gg/wsytkas
Twitter: https://twitter.com/weiDexExchange
Facebook: https://www.facebook.com/weiDexExchange
Telegram: https://t.me/weidex
Instagram: https://www.instagram.com/weidex_market
