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As a result of this situation created by Dapps, end users are exposed to numerous smart contracts of varying quality and security; all with different configuration processes.
0x proposes to solve this problem by acting as modular, unopinionated building blocks that may be assembled, reconfigured to seamlessly integrate transactions that are initiated off-chain via state channels with formal on chain settlement to the Ethereum blockchain.
However, 0x seeks to improve current issues with decentralised exchanges; being expensive, slow, illiquid and non-interoperable.
0x addresses these issues by developing a standard protocol that can be applied to all orders which relay off the blockchain.
With 0x, the orders go back on the blockchain on settlement instead of going back to it in every instance of a transaction. In this manner, 0x is able to speed up the whole process eliminating some of the unnecessary transaction fees associated with current exchanges.
Q1 – Governance R&D. Reusable relayer UI components
Q2 – 0x v2.0 deployed on mainnet. Trade explorer v1 released. Governance whitepaper released
INITIAL COIN OFFERING (ICO)
The sale was planned to extend to Aug.18, but ended after the purchase cap was reached in the first 24 hours. A total of 1 billion 0x tokens were created, with 50% of total supply (500 million ZRX) allocated to participants in the token sale.
The remaining tokens were split among the team, which received 10% of supply (100 million ZRX) with a four year vesting schedule, and initial advisors and investors, which also received 10%.
Creators / Founders
Co-founder & CEO
Previously applied physics at Los Alamos National Laboratory
Co-founder & CTO
Previously fixed income trader at DRW
Core Development Team
Previously digital marketing at Google and vendor management at Amazon
Olaf Carlson-Wee – Founder of Polychain Capital
Joey Krug – Co-CIO at Pantera Capital
Linda Xie – Co-founder of Scalar Capital
Trade Crypto Live Sentiment
Therefore, the advent of decentralized exchanges, such as 0x, are becoming a key piece of crypto infrastructure and will fundamentally improve the functionality of crypto economies.
Based on our research, 0x is emerging as the leading DEX platform within the Ethereum ecosystem. Not only is the core protocol well-designed and fully functional, they have also incentivised a whole ecosystem of third-party relayers (entities that host and maintain public order books) whose services will make using 0x even easier than using a centralized exchange.
Reference & Links