Project 0x (ZRX) – The Protocol for Trading Ethereum Tokens
A couple weeks ago I wrote about Polymath, a platform for tokenized assets. Like Polymath, 0x believes the world is becoming tokenized and it won’t be long until thousands of assets are tokenized.
But it envisions these assets moving onto the Ethereum blockchain. And as the number of assets on the Ethereum blockchain increases, it will only compound the need to exchange those assets.
0x is a protocol that facilitates the exchange of Ethereum-based assets. Developers can build a wide variety of applications on top of the protocol.
The problem according to 0x is the wide variety in quality and security of smart contracts created on the Ethereum blockchain. 0x provides modular building blocks which can be assembled and reconfigured by developers as needed.
0x is a decentralized and trustless exchange. And rather than try to extract rent from its owners, the 0x protocol is free to use. However, profits can be earned from applications built on top of the protocol. For example, the “Relayers,” who provide an off-chain order book, will be able to charge fees.
The 0x protocol token is ZRX and it has two uses. First, it’s used by market participants to pay transaction fees to Relayers. And second, it’s used for the decentralized governance of the 0x protocol.
There’s already several Ethereum projects building on 0x. See the picture below.
The project has some brand-name advisors in Fred Erhsam and Olaf Carlson-Wee.
Project 0x held a token sale on August 15, which sold out in short order. I missed it myself.
You can pick up tokens on Poloniex, Liqui, and EtherDelta. Right now it’s trading near $0.40 with a market cap of roughly $200 million.
I picked up a few tokens as a small speculative investment.
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Agree ZRX can be a very interesting investment. If it goes down a little, i'll be sure to pick some up.
Btw why is this Cheetah coming around, is that due to your signature maybe?