0x (Ethereum) [Part 1 of 4] (Concept)
Ethereum is a very famous and renowned blockchain and it is treated as the second most influential blockchain after the Bitcoin blockchain. A wide variety of protocols is created with this blockchain as it allows developers to create their side chains on this network. That's why a wide variety of decentralized applications and decentralized exchanges are created on the network for the security and utilization of smart contracts smartly.
In my post, I try to cover sequentially one of the leading decentralized exchanges 0x which is listed in the world of DEX. Today I will share the concept of this decentralized exchange and will share some features of this exchange. In the upcoming post in the sequence, I will try to come up with some other issues related to this decentralized exchange and its features, advantages, and facilities.
0x is an Ethereum-based protocol. It is a decentralized exchange of Ethereum-based tokens and assets. This can be treated as a plumbing system for the Ethereum blockchain. Like many other exchanges, it offers a wide and huge variety of exchanges of digital assets without the need for middle parties which is essential in the centralized exchange. 0x is special for solving of the liquidity problem faced by decentralized exchanges (DEXs).
This is not like a traditional exchange because we know that traditional exchange is based on order books and centralized matching engines to facilitate trade. On the other hand, DEXs operate differently. Instead of relying on a centralized entity to match buy and sell orders, DEXs use smart contracts to automate the trading process and execute trades directly on the blockchain.
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VEIGO (Community Mod)
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It's a leading chain and because of this lots of projects have chosen this chain to build their apps.