0x (ZRX) is an open-source protocol that facilitates the peer-to-peer exchange of assets on the Ethereum blockchain.
0x (ZRX) was created to provide a decentralized infrastructure for the creation of decentralized exchanges (DEXs) and other applications that require trustless trading of digital assets. It allows developers to create their own DEXs that enable users to trade digital assets directly from their wallets without the need for intermediaries or centralized platforms.
Off-chain order book and more
0x utilizes an off-chain order book model. Orders are created off-chain and then settled on-chain, reducing the load on the Ethereum network and improving scalability.
Relayers are platforms that host order books and facilitate trades between users. They play a role in matching buyers and sellers. Liquidity pools are collections of digital assets that traders contribute to, providing liquidity for DEXs.
0x aims to foster a decentralized trading ecosystem. It’s designed to be compatible with various Ethereum-based tokens, allowing for the trading of a wide range of assets.
Moreover, Some projects use the 0x protocol to build DEX aggregator platforms that source liquidity from multiple DEXs to provide users with the best trading rates.
ZRX Token
ZRX is the native utility token of the 0x protocol. It has several use cases, including governance (token holders can participate in protocol upgrades), staking (for liquidity providers), and paying trading fees on relayers.
Disclaimer. This article is for informational purposes only and should not be viewed as an endorsement by CoinIdol. They are not a recommendation to buy or sell cryptocurrency. Readers should do their research before investing in funds.
Source: https://coinidol.com/0x-zrx-token/