0x (ZRX)

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Name Price Supply Volume Market Cap
0x
0x
$0.169
600.39M ZRX
$28.86M
$101.69M

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0x is a protocol for decentralized exchange (DEX) of ERC20 tokens to facilitate permissionless transfers of value across the Ethereum blockchain.
Any user wishing to transact using ERC-20 tokens.
Kyber Network(KNC), Blocknet(BLOCK)

VIDEOS

BACKGROUND

Whitepaper Summary
The whitepaper is written in a clear, concise and professional manner. As this 0x is a decentralised exchange, they have laid out the mechanisms required to establish and operate their exchange.
Problem Solved
0x aims to solve problems emanating from the rapid iteration, proliferation and lack of best practices that have been created by the numerous decentralised applications (Dapps) created on Ethereum blockchain’s genesis block.

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.

Competitive Edge
As decentralized exchanges are considered secure and superior to centralised exchanges, the 0x project has chosen to be closer in model to them.

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.

Development Roadmap
2018:

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)

0x completed a token sale on Aug. 16, 2017, after raising $24 million in ETH.  

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 project retained 15% of supply (150 million ZRX) for ongoing expenses and allocated another 15% to a developer fund to help grow the 0x ecosystem.

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%.

$24 million USD
Aug. 16, 2017 – 1 ZRX = 0.111725 USD

TEAM INFO

Creators / Founders
Will Warren
Co-founder & CEO 

Previously applied physics at Los Alamos National Laboratory 

 

Amir Bandeali
Co-founder & CTO 

Previously fixed income trader at DRW 

Core Development Team
Alex Xu – Director of Operations

Previously digital marketing at Google and vendor management at Amazon

Notable Advisors
Fred Ehrsam – Co-founder of Coinbase

Olaf Carlson-Wee – Founder of Polychain Capital

Joey Krug – Co-CIO at Pantera Capital

Linda Xie – Co-founder of Scalar Capital

Notable Investors
Blockchain Capital

Polychain Capital

Pantera Capital

Trade Crypto Live Sentiment

The risks relating to centralised exchanges are some of the main factors preventing the wide spread adoption of cryptocurrency. The numerous reported hacks at different exchanges have created a negative stigma among the general public.

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
https://medium.com/crypt-bytes-tech/ico-review-0x-5a2794e4e8c
https://0xproject.com/
https://0xproject.com/pdfs/0x_white_paper.pdf
https://www.coindesk.com/decentralized-exchange-ethereum-0x-24-million-in-ico/
https://coincheckup.com/coins/0x/
https://www.coindesk.com/blockchain-vcs-back-0x-protocol-lets-trade-ethereum-tokens-free/