0x (ZRX) - a platform and cryptocurrency that allows you to exchange tokens

0x (ZRX), i.e. zerox, is a platform that can be used to exchange tokens, but is not itself a cryptocurrency exchange. It is there that you can create an almost automatic exchange that will allow you to easily exchange tokens based on Ethereum.

We are continuing the cycle of the Forex Club portal, in which we describe the most valuable, highly valued, most popular and interesting cryptocurrency projects from around the world. Today it's time for 0x - a platform that is undoubtedly one of the most interesting projects in the world of cryptocurrencies.

How does 0x

0x is a platform that allows you to automate the process of tokens created on the Ethereum platform. You can place a decentralized cryptocurrency exchange on it, which will be supported by the ZRX token, used to pay transaction fees when making the exchange. The exchange can handle all tokens in the ERC20 standard, as well as those created in the ERC721 standard (from version 2.0).

It's worth pointing out, however, that the 0x platform itself is not cryptocurrency exchange, and in a way an open code tool that allows you to run such an exchange. The protocol also allows you to synchronize exchanges with wallets that support Ethereum tokens.

What's more, 0x allows you to create an exchange even when orders to buy and sell tokens are collected outside the Ethereum network. This is possible thanks to a special smart contract, ensuring full transaction transparency and reducing the possibility of possible fraud to zero. The 0x protocol itself is also a smart contract based on Ethereum - in language, of course Solidity. Thanks to this, it is possible to base on it not only a decentralized cryptocurrency exchange, but also a loan application, virtual collections or trade, e.g. with numismatics.

Project 0x (ZRX) ICO

Will Warren and Amir Bandeali, creators of 0x (ZRX). Source: Epicenter, SoundCloud

The idea of ​​creating 0x came from Will Warren and Amir Bandeali. At the end of 2016, they noticed that more and more tokens were created on the basis of the Ethereum network. However, not all of them gained great popularity, and their basic and most common barrier was their difficult marketability. It's just that new tokens rarely penetrated cryptocurrency exchanges quickly, so they could not be traded in any pairs, which made trading difficult and resulted in less frequent use. Hence the idea that it could be done on a platform that would automatically combine all tokens generated in Ethereum.

The idea met with admiration among investors. However, it did not end with praise. However, an ICO day was enough for 16 investors to cash 2017 million ZRX tokens for the amount of almost USD 12 million on August 500, 24. It was exactly half of the tokens, because 30% was left for the development of the project, and 10% were received by the creators of the project and their advisers. The ICO was so successful. On May 18, 2017, the 0x protocol was already working, which in the world of cryptocurrencies rarely happens before the announcement of the fundraiser. However, thanks to the money raised, the project developed quickly. In mid-2018, version 2.0 came into force, which primarily allowed for stable support for Ethereum ERC721 tokens, i.e. the latest version of Ethereum tokens.

Quotations 0x (ZRX)

Currently, the ZRX token can be traded on as many as 83 cryptocurrency exchanges from around the world. As of July 21.07.2020, 702, there are 1 million traded out of the planned 0,40 billion units, valued at $ 284. This translates into a capitalization of over $ XNUMX million.

We had the peak of the ZRX quotations on January 9, 2018, when the ZRX tokens were valued at USD 2,53. The project's capitalization then exceeded $ 1,17 billion.