What is 0x?

0x (ZRX) is an open-source protocol that facilitates the peer-to-peer exchange of digital assets on the Ethereum blockchain. Launched in 2017 by Will Warren and Amir Bandeali, 0x enables decentralized exchanges (DEXs) and applications to trade ERC-20 and ERC-721 tokens efficiently without relying on centralized intermediaries. By using off-chain order relays and on-chain settlement, 0x reduces transaction costs while maintaining security and transparency.

0x's native token, ZRX, is used for governance and staking by market makers who provide liquidity to the network.

How is 0x useful?

0x serves as the foundation for decentralized finance (DeFi) applications, allowing developers to build their own trading platforms, NFT marketplaces, and liquidity solutions. 0x enhances liquidity aggregation, ensuring users can access competitive token prices across multiple sources. By using off-chain order matching, 0x significantly lowers gas fees, making decentralized trading more cost-effective.

The ZRX token enables community governance, allowing token holders to vote on protocol upgrades and improvements.

How does 0x work?

0x employs a hybrid on-chain/off-chain model to optimize decentralized trading. Orders are initially relayed off-chain via a network of relayers, reducing congestion and gas fees. Once a trade is matched, it is executed on-chain via Ethereum smart contracts, ensuring trustless and secure settlement.

The ZRX token incentivizes liquidity providers and governance participants, allowing stakeholders to steer the protocol’s evolution. 0x API aggregates liquidity from various decentralized exchanges, improving trading efficiency for applications built on the protocol.

0x milestones

• Protocol Launch: Introduced in 2017, enabling decentralized trading on Ethereum.

• Support for NFTs: Expanded to support ERC-721 tokens, allowing NFT marketplaces to integrate 0x technology.

• 0x API Integration: Enhanced liquidity aggregation, making DeFi trading more seamless.

• Governance Expansion: Strengthened ZRX token utility, enabling community-driven protocol upgrades.

• Cross-Chain Development: Extended beyond Ethereum, integrating with Polygon and other layer-2 solutions.

0x remains a cornerstone of decentralized trading, continuously evolving to improve liquidity, reduce costs, and enhance user accessibility in the DeFi ecosystem.

Buy 0x (ZRX) on BITmarkets.