What Is 0X (ZRX)?
0X is an Ethereum-based, decentralized cryptocurrency exchange that enables peer-to-peer (P2P) token exchanges. This drastically increases security by cutting out the middlemen of exchanges, which are notoriously unsafe and prone to theft and other cyber attacks. 0x uses its proprietary ZRX ERC-20 token to facilitate on-chain and off-chain transactions.
Who Is 0X?
0x was founded in October 2016 by Amir Bandeali and Will Warren. They created the platform to streamline Ethereum token trading to reduce gas costs. They lead the 0x Foundation, which maintains and operates the network.
Use Cases of 0X
0x is used for Over-the-Counter (OTC) trades that don’t involve a centralized exchange. This creates more trading pairs and enables faster token liquidity.
How to Mine ZRX
You can not mine ZRX, but relayers can charge and receive a fee for initiating exchanges and transfers. ZRX can be purchased on 0x, Coinbase, and other cryptocurrency exchanges.
Notable Partnerships and Investors
ZRX is accepted on a wide variety of cryptocurrency exchange markets. It helps that it’s an ERC-20 token. The 0x protocol is also used in a range of blockchain projects, including dEX, Radar, Blocknet, Augur, Aragon, Maker, and more. While 0X doesn’t have a fee, any of these relayer partners may charge its own proprietary fee for using the protocol through their exchange platform.
Learn More About 0X
If you want to learn more about 0X, I wrote a full coin intro guide at Crypto Briefing. Or you can learn more about other cryptocurrencies across Thought for Your Penny.