Review on 0x by Wisdom BOATENG
ZRX, the project close to its users
ZRX is a protocol running on the Ethereum blockchain that allows the exchange of ERC 20/721 tokens in a fully decentralized and low cost manner. To redeem these tokens today, most people turn to a centralized exchange which complicates the transaction. 0x uses what are called relayers who are responsible for disseminating pending orders through private or public order books. This makes it possible to bring liquidity to the network by hosting order books, as would a centralized exchange.
Unlike a centralized exchange, a relay cannot execute an order. It can only facilitate operations by introducing takers on the network. When a relay allows a trade to take place, he will be rewarded by receiving ZRX tokens. The relay will be paid for each successful transaction.
ο»Ώ
Pros
- Fully decentralized, low transaction costs, no identity verification
- Currently, the decentralized finance sector is exploding so these exchange platforms explode and demand is increasing
Cons
- Decentralized exchange platforms have limits: No FIAT deposit ...
New products
Comments (1)
January 13, 2021
Each person holding ZRX tokens gets a right to vote on the future development of the project. It will be possible to vote with its ZRX tokens for decisions that will affect the blockchain such as protocol updates. Voting is free and does not require the presence of Ethereum gas in the wallet with which you are voting.
