Wed, Oct 7, 2020 8:18 PM

0x (ZRX): A Short Review

CJ with laptop 0x

A short simplified review of 0x open protocol and its native token ZRX is provided below. It includes a description of the protocol’s design and an explanation of ZRX purpose and function. Besides, a survey supplies data on the project's development, ZRX coin current worth, and possible price action.

What are the 0x protocol and its native token ZRX coin?

0x is a decentralized protocol with its native cryptocurrency ZRX. 0x enables peer-to-peer low-friction exchange of ERC20 tokens on the Ethereum blockchain. Transactions are executed through a system of publicly accessible smart-contracts. They can be used for free; any dApp can tap into them.

The 0x protocol does not impose any costs on its users. 0x's decentralized governance can be used non-stop and updates can be integrated into the base protocol without interrupting dApps or end-users.

The project was founded in October 2016 by Amir Bandeali and Will Warren. The founders envision a future where everything of value is traded in the form of tokens. Anything imaginable, from stocks to works of art, can be given its token and then traded on a decentralized network.

What role does ZRX coin play?

Modern blockchains are not yet scalable enough to handle a large transaction volume. 0x offers a solution for this: it uses P2P networks, with which orders can be processed outside the blockchain. The only thing that happens on the blockchain is the actual value transfers. All other transactions and the like are kept outside the blockchain. This lowers the transaction costs and reduces the congestion on the network.

P2P network, known as a relayer, facilitates orders’ execution by submitting signatures to 0x's smart contract. For a successful transaction, both the signature of the maker and the taker is required. As compensation for facilitating this exchange, a relayer is awarded some ZRX, 0x's native currency, for each transaction.

The ZRX token, in addition to compensating relays for sending order books, is used to facilitate decentralized governance on 0x's platform. The currency can be used to vote on decisions affecting the blockchain. This allows protocol integrations and upgrades to be performed without interrupting the entire network.

The ZRX token is an ERC-20 token, so it can be easily and safely stored in an Ethereum wallet that supports ERC-20. The best options are Ledger Nano S, Trezor, Exodus, MetaMask, and MyEtherWallet

There are many different platforms where you can buy and sell 0x (ZRX), including Binance, Huobi, HitBTC, OKEx, and Bittrex. The complete list of all places to buy and exchange 0x (ZRX) can be found here

The price of ZRX coin

On October 7 the ZRX price was $0.352564. A 24-hour trading volume is $30,746,316. In the last 24 hours, the ZRX price is up by 1.9%.

A circulating supply equals 720 mil coins; a max supply – 1 bln coins. Coinbase Pro is the most active market for trading ZRX. Blockchair.com, ethplorer.io, etherscan.io, and 0xtracker.com can be useful for exploring transactions and addresses. You can find more information at 0x.org.

News

In February 2020, 0x protocol launched a new API to provide for cost-efficient token swaps. 

In February 2020, 0x and ChainLink collaboration was announced, aimed at bringing new DEX functionality to users.

In June 2020, 0x announced its collaboration with MakerDAO. It gave Maker’s community exclusive access to Matcha, a simple crypto trading platform, powered by 0x Labs. 

0x is also competing to be ranked among the top cryptocurrencies of 2020. It is a common trend in the crypto market for prices to get a healthy boost when the team hits a major milestone. With that in mind, ZRX is looking pretty good right now.

Looking ahead, the 0x development team is working on new features and projects, such as protocol upgrades and various 0x improvement proposals. 0x is trying to bring the power of both decentralized and central exchanges to the crypto market.

If you want to know what's on the ZRX team's schedule, including any current improvements they want to make, we recommend taking a look at the ZRX blog and the 0x project on Github.

ZRX coin’s price prediction

0x price prediction
Source: https://walletinvestor.com/forecast/0x-prediction

  • According to an algorithm provided by Digitalcoin, the 0x (ZRX) price can be up to 0.37463628 USD by tomorrow. 
  • The lowest price of 0x (ZRX) will be up to 1.77 USD and the highest price – up to 2.06 USD in the future. 
  • According to Digitalcoin estimated prediction 0x (ZRX) price will not be downward. 

Broadly speaking ZRX is a profitable investment based on Digitalcoin forecasting.

 

Disclaimer: The content of this article can be used for informational purposes only and shouldn’t be considered as investment advice.