What is 0x?
0x is an ERC-20 token released as an ICO crowdfunding project on August 15th, 2017 and successfully sold half a billion of the units and the other half was left and split between advisors, founders, development fund etc. The idea behind is to create a trading peer-to-peer protocol capable of exchanging all Ethereum blockchain assets without the need of a third-party exchange. Simply explained, it supposed to be an infrastructure that helps the building of decentralized exchanges. Additionally, even apps could be built over the 0x protocol. In a manner of fact, the framework of the 0x cryptocurrency was used in other projects like Augur, Aragon, and Distict0x.
Advantages
With the uprising number of token nowadays and the future expectation that this will be an on-going tendency. The 0x team believes that sooner or later there will be a need for efficient, trustless and decentralized exchange.
- Smart contracts
- Decentralized servers
- High privacy factor
Disadvantages
There is always a hidden risk when we speak about decentralized exchanges, to protect yourself from any hackers you should learn how to use it first.
- Not regulated
- Owners are anonymous usually
- Low liquidity
- Limited functionality
History and Evolution
The 0x protocol is operating since its foundation in October 2016. I cannot miss sharing that the team altogether with the founders Will Warren (CEO) and Amir Bandeali(CTO) are admirable. A little bit of a background, both main figures are well educated with rich experience. Will studied mechanical engineering in San Diego, Amir finished the financial university in Urbana-Champaign.
In the team surrounding the management, you can find many specialists in different areas such as blockchain and software engineers, graphics and product designers and people with strong influence related to different crypto projects like Coinbase, Polychain and Pantera Capital. I truly believe that these people contributed most for the strong success of 0x token especially at its early stage as ICO campaign, when the starting price of each ZRX token was 0.4USD, the project obtained $24,000,000 in pretty much 24h. How does that sound to you? Nice right?
0x’s Future
In the mind of the founders, the perfect picture of their future leads to global tokenization and the acceptance of all free flow values across markets. Future development and roadmap if their expected implementations you can find official 0x blog. The main resource now is concentrated on several milestones – the 0x offchain and state channel tradings and more user-friendly interface
0x Blockchain
In its token nature 0x is issued on top of the Ethereum blockchain. Imagine that it presents a law book, a code, a system of conducting procedures rules used by 2 or more sides to establish more effective and easier communication. It allows the exchange of ERC-20 tokens without any risk of centralized authorities interferences.
How to Get 0x at Exchanges
The most convenient places to purchase and obtain ZRX tokens are Binance and Coinbase pro, in exchange for Bitcoin or Ethereum. Considering that investing in 0x cryptocurrency is not a bad idea at all, apart from the already working dApps on its testnet version of the platform, the protocol finds implementation in many crypto aspects. I think it’s worth the shot.
| Exchange | Buy 0x with: | Buy with Fiat Money: | |
|---|---|---|---|
| Bitcoin, Ethereum | – | Trade now | |
| Bitcoin | USD, EUR | Trade now | |
| Ethereum | – | Trade now |
Wallets for 0x
Ever-since it is ERC-20 token I will recommend you use MyEtherwallet. Its, free, its open-source and there’s no need of any installation because you can use the web version, or you can download it for your desktop computer or mobile phone. Nowadays, it’s always best to encrypt your personal data, check how it’s done in this guide. In case you cannot see any tokens in your wallet, check that video.
Alternative Wallets
Different people have different needs and demands, that’s why there are many alternative wallets supporting different features. Some of them are without internet access, called cold storages and of course hot wallets, the opposite. Other people are looking for interface, functionality, accessibility and they prefer a desktop, mobile or web clients.
Mobile Wallets:
Web Wallets:
News
Considering the large scale of information coming from the internet, sometimes it’s hard to sort the relevant sources to follow. It is always best to start with the publicly proven origin like their blog. Based on the latest news over the last several months, the roadmap of the project must be updated until the end of 2018.