0x Blockchain Protocol for Decentralized Exchanges
There are hundreds of currencies in the crypto world now, and their number is raising every day which makes the question of digital currency exchange increasingly important. Of cause, you can use the centralized exchanges, and to be honest, this is the most popular way right now, but such organizations are posing well-known risks: external hacks, shutdowns, and blatant fraud.
The decentralized exchanges (DEX) do not have those risks but are disadvantageous as they lack in speed in scalability so far. 0x (read as zero-ex) project developers present us with their solution in the form of decentralized protocol for cryptocurrency exchange. Based on Ethereum it provides a fast and trustless way of exchanging Ethereum based assets.
System’s ZRX Token
The 0x protocol doesn’t require fees but there will be parties referred to as Relayers that will build their DEXes based on it, and those parties will take some pay for the use of their services. The payment will be conducted in ZRX token. Another function of this token is the governance of the system and its upcoming upgrades.