Review on 0x by Hakan Altan
0x My Review
0x was developed as a response to centralized exchanges and aimed to regulate the disadvantages of decentralized exchanges such as low volume, slow transaction speed; It is an open protocol developed on the Ethereum blockchain network. The transactions of the decentralized exchanges built on the 0x protocol first take place outside the blockchain network in order to increase the transaction speed, and then they are recorded in the blockchain network.
It is an ERC-20 Token issued by the 0x platform. It is used as a transaction fee in decentralized exchanges built on 0x. Another feature of the ZRX Token is that the Token holders are given a voice in the decision regarding the development of its protocol.
Pros
- Allows to establish a decentralized exchange
Cons
- Based on Ethereum as infrastructure
