What is 0x?

0x is a protocol that facilitates the exchange of ERC20 tokens. Anyone can use 0x to work with a decentralized exchange.

The protocol allows you to relay ERC20 tokens between users in a safe and fast mode using Ethereum smart contracts. Ultimately, all assets, including fiat, goods, stocks, could potentially be represented as a token. The purpose of the protocol is to use any Ethereum tokens effectively.

ZRX has two main functions:

• Management - ZRX will allow holders to vote on protocol changes.
• Relay Fee - Relays will arrange over-the-counter orders and related engines to match orders from manufacturers and buyers (users who wish to trade ERC20 tokens). Manufacturers and interlocutors who use this service will pay a fee for using the ZRX relay.

Two well-known crypto enthusiasts Amir Bandeali and Will Warren united their efforts to create the 0x protocol and, as a consequence, the ZRX cryptocurrency.

The work on the ZRX cryptocurrency project was launched in 2016 when Bandeali and Warren put together a team of professional programmers who wanted to develop and popularize cryptotechnologies. Almost at the same time, the first based on 0x technology solutions smart contracts were launched. At that time they worked in test mode.

Since 2017, the development team has expanded. It was marked by the release of several test versions of smart contacts and the implementation of improvements in the 0x work. In the summer of 2017, the creators of this crypto project organized the first ICO. Thanks to this stride, they managed to raise about $24 million and finance the next steps to promote and refine their brainchild.