The 0x protocol facilitates the exchange of Ethereum-based tokens including cryptocurrencies, game items, and many other digital assets.
Mineable? If so how is it mined?
Although it’s an Ethereum ERC20 token, 0x is PoW mineable.
ZRX 0x Cryptocurrency have 516,229,682 circulating coins. There is fixed ZRX supply of 1 billion and was recently launched in August 2017. 50% of the tokens were distributed during the first launch with different percentage division including 15% retained by 0x, 15% for developer fund, 10% for the founding team, and 10% for the early backers and advisors.
Following a $0.50 coming out of its high ICO, 0x gradually moved back to support of negative $0.20 for the whole month of September. This level remained during October that leads to a relatively quiet in the month of November in the when most of the altcoins were gaining. In December, the ZRX 0x made a run at the peak of $1.30 on January 5. Eventually, it has been quickly corrected from this top and it sits at roughly $1.10 at the time of writing.
What makes it Different?
The 0x project improves decentralized exchanges compared to other Cryptocurrencies. 0x addresses the main problems related to exchanges or transactions in decentralize system. They are typically expensive, illiquid, slow, and cannot be operated with each other. In order to operate an order book that is located on the blockchain, each adjustment or changes in new orders that go through the blockchain, everything is held to block times. This could lead to network transaction fees at every direction.
All in all, the ZRX 0x significantly speeds up the process and eliminates some of the unnecessary transaction fees.
Who is behind ZRX 0x?
The ZRX 0x was co-founded by Amir Bandeali and Will Warren in October 2016. The alpha version of 0x has gone through life on the 0x’s private test network since January 2017. The 1.0 version of the 0x standard protocol will be deployed to the canonical Ethereum blockchain after it passed several security audits prior to the public token launch.
Amir and Warren with other blockchain engineers focused on the world of Ethereum blockchain which allows the assets to gain everything from fiat, digital game items, stocks, to gold currencies. They believed that in the future, thousands of assets will be tokenized and uses Ethereum blockchain.