0x exchange

0x (ZRX) – Exchange Review

Tags: Bitcoin, Crypto Exchange, Ethereum

0x is a decentralized exchange platform based on the blockchain of Ethereum. It is designed by employing an open protocol which engages the smart contracts of the Ethereum network.

Hopefully, investors will find tons of Ethereum token and will be able to exchange them on the trading platform of 0x in near future. 0x will draw more attention of the concerned community as it comprises both decentralized and centralized features.

History of 0x Project

0x project started its journey holding the hands of Will Warren, the CEO, and Amir Bandeali, the CTO. Both of them are researchers in smart contract development. Other team members are mostly software engineers, blockchain engineers, data architects, product designers and of many other dimensions and skills. The advisors of the project are closely connected with the companies like Polychain Capital, Pantera Capital and so on.

Ox project is financially aided by Pantera, Jen advisors, Fintech Blockchain Group etc. projecting a large variety of interests.

The vision of 0x

In October 2016, 0x was designed with a view to creating a world in which every asset would be a part of the Ethereum network. The assets might include starting from stocks of fiat currencies or gold to digital gaming items.

The exchange was intended to be a trustless platform for the users due to tokenization in a large scale. The developing team saw great opportunities to overcome the limitations of the decentralized exchanges to function together.

Differences between Centralized and Decentralized Platforms

Centralized exchanges are the conventional ones that run under the supervision of single authorities. The user’s part is only to deposit funds; the other criteria such as connecting the sellers and buyers in real time, maintaining the security of funds etc. remain as the responsibilities of the exchanges.

Coinbase can be mentioned as a centralized cryptocurrency exchange. Investors are to deal with centralized exchanges, accepting the risk of vulnerability to malicious attacks by the hackers or sudden disappearance of the authority along with the deposited funds.

Decentralized exchanges came into existence in order to resolve the issues of theft and insecurity. In this case, investors are in the drivers’ seats, and they have control over their assets. The security of the deposited funds also lies under the responsibility of the user. Multiple digital signatures are employed to validate trading orders instead of relying on the authority to do so. It also indicates the fact that the centralized exchanges function comparatively faster than the decentralized ones. Additionally, centralized exchanges tend to experience high-performance trading as well as modern tools and are easy to use.

How does 0x Improve on Decentralized Exchanges

Though it supports the decentralized manner more than the centralized one, it has certain distinctions. It differs in cases of costs, the speed of transactions, liquidity, and combined operations etc. In decentralized platforms, each order is conducted through the blockchain, i.e. everything happens in block times. It also causes charging network transaction fees in every turn.

0x handles these issues by constructing standard protocols, which ultimately enhance the speed and reduce costs.

What is 0x OTC

0x OTC is a consumer-facing product that implies 0x protocol. It allows peers to trade Ethereum token without the assistance of a relayer, provided that they are directly interconnected.

The entire procedure undergoes some easy steps. A trader is to provide a link to the counterparty in order to generate and send an order. In this regard, the very investor is at liberty to send the order however he wants.

What are 0x tokens (ZRX)

ZRX is a unique 0x-Ethereum token. ZRX has been launched recently on 15 August 2017. It has a fixed total supply of one billion tokens.

During the launching, 50 percent of the total volume was released; 15 percent was retained by Ox; another 15 percent was funded for the development; the remaining 20 percent are awarded to the founders, advisors and the staff members.

At present, each token is worth $0.23 USD, which experienced a maximum $0.53 USD on 5 September 2017.


0x is designed to apply the pros and to avoid the cons of both the centralized and decentralized platforms.

Hopefully, it will draw the attention of the whole crypto-world within a short time and will go on to achieve its goal.