Cryptocurrency: COINBASE ADDS 0X (ZRX) AND HAS EXPLOSED ITS COURSE OF 30%

Cryptocurrency: COINBASE ADDS 0X (ZRX) AND HAS EXPLOSED ITS COURSE OF 30%

Coinbase, the world's most popular crypto-broker, adds an active 6th to its platform: the ZRX, a token emitted by project 0x. Presentation.

As Coinbase has announced in recent months, its customers will have the opportunity to acquire a wider variety of crypto-actives. In addition to traditional Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ethereum Classic, the world's most popular broker added Tuesday, October 16 the ZRX, a token for use within protocol 0x. As a result, the price of the ZRX soared from $ 0.74 to more than $ 1 before stabilizing at $ 0.95. That's an increase of 28% in a few hours.

Each addition of a new token on Coinbase is regularly followed by a shopping spree. Such variations have already been observed in December 2017 when Bitcoin Cash was added and last June for the Ethereum Classic. This is due to the high popularity of the broker: with 25 million customers it ensures maximum popularity to the assets listed on its platform and the promise of high liquidity.

The protocol 0x denotes a platform on which it is possible to exchange all kinds of crypto-active. Nothing new under the sun will you say, Coinbase or Binance already do it very well. Except that 0x is decentralized: that is to say that this feature eliminates the risk of hacking a centralized platform that stores all cryptocurrency users (in January hackers managed to steal the equivalent of 530 million dollars on the Coincheck Japanese exchange). By developing a decentralized exchange, buyers and sellers are linked to each other via smart contracts that they are obliged to honor.

The ZRX token is designed to serve as a fuel on this network: it is used as a transaction fee during exchanges and also provides its holders with a form of governance on the evolution of 0x. Each token has the right to vote. The start-up behind the project managed to raise $ 24 million in 2017 via an ICO (Initial Corner Offering, a fundraising via cryptocurrency).

Many see in 0x one of the most ambitious protocols of this new industry, it could become a standard for transferring value online. "The decentralized exchanges are a key element in the crypto infrastructure and they will fundamentally improve the functioning of the sector", analyzes the American fund specialized Multicoin Capital. "0x is becoming the reference platform within the Ethereum ecosystem," he concludes.