0x, an open protocol for decentralized exchange is thrilled to announce that their token ZRX has been listed at KuCoin, which is regarded as a secured, reliable, and technologically exceptional cryptocurrency trading market.
About 0x Protocol (ZRX)
0x is acknowledged as an open, permissionless protocol allowing for ERC20 tokens to be transacted on the Ethereum blockchain” and will be used for “powering decentralized exchange.”
Amir Bandeali and Will Warren were considering on the disruptive trajectory of blockchain technology. They think in a future where assets of all types, from stocks to currencies to valuable metals, are traded publicly as tokens on the blockchain. Granted the versatility of Ethereum’s platform and the scope of its decentralized applications, they reflect Ethereum’s blockchain is the ideal medium to support this advancement in asset exchange.
How 0x Functions
The essence of 0x’s decentralized trading concentrates on an off-chain organizing relay that cuts back on gas prices and decreases network excess. Most decentralized exchanges function utilizing smart contracts powered by the Ethereum blockchain. It means that all order functions and trades take place inside these smart contracts, and users are always in charge of their funds, rather than giving them to a third party like they would with a centralized exchange.
The ZRX Token
ZRX tokens are utilized for decentralized governance, and although it’s currently limited to the Ethereum blockchain, cross-blockchain solutions like Cosmos and Wanchain will soon connect 0x to the outside world. Tokens are not mineable, although the founder and advisor shares are being time released.
Images courtesy of KuCoin