Blockchain redefined decentralization in the financial industry around the world. Cryptocurrency platforms like 0x (ZRX) have dedicated their expertise and resources to powering the next phase of decentralization in the crypto space. According to the website, 0x is a protocol designed to support the exchange of decentralized tokens especially those that run on Ethereum blockchain.
The platform has been built with Ethereum smart contracts in mind hence the support for decentralized exchange. The future of crypto exchanges lies in decentralized exchange platforms. Most of the exchanges launching at the moment are able to support wallet to wallet exchange without the need to have third parties.
Decentralized exchanges give the power back to the user including control over their assets. Moreover, there are hundreds of tokens that are still launching on Ethereum blockchain. These tokens require a trustless medium of exchange that is secure, cheap and reliable. 0x team is positioning itself at the forefront by combining the best features from the centralized and decentralized exchanges.
0x can also be categorized as a building platform for both smart contracts as well as decentralized applications (dApps). The website introduces building on saying:
In addition to that, 0x protocol supports the trading of Ethereum-based tokens as mentioned above. Besides the tokens, currencies, game items and other digital based tokens can be exchanged. To trade on the platform, users are required to register for a MetaMask wallet. However, there are other different wallets to choose from as well. This wallet will be applicable for all 0x relayers. One single wallet is required for all the 0x protocol relayers including but not limited to Ethfinex, Radar, Paradex, TheOceanX and OpenRelay.
When referring to 0x, think of it as a one-stop shop for everything decentralized exchange. Be it prediction market tokens, decentralized applications native utility tokens, decentralized loans or stable coins, 0x (ZRX) is the platform for you.
0x (ZRX) Continues to Create Millionaires
In the past couple of months, 0x (ZRX) has been performing incredibly well. In fact, since, the lows in September, the asset has more than doubled in value from trading approximately at $0.50 to the current $1.05. Significantly, ZRX is still within the bracket of affordable digital tokens that have the ability to beat their all-time high. Moreover, investors can still purchase large volumes of this token and make considerably good returns in millions of dollars.
The recent hype surrounding ZRX listing on Coinbase has been very instrumental; working as a catalyst to the current surge. At the time of writing ZRX is live on Coinbase exchange in various trading pairs including USD and EUR. The crypto is up 39.37% in the last 24 hours against the USD and 40.08% against BTC.
The 24-hour exchange trading volume has gone up significantly from $44 million at the close of the session on Tuesday to $115 million at press time. In the same period, the market capitalization has gone up from $395 million to $556 million. According to Blockmodo, 0x is the 22nd largest crypto in the market.