The live price of 0x Protocol is - per (ZRX / USD) with a current market cap of $228.94M USD. 24-hour trading volume is - USD. ZRX to USD price is updated in real-time. 0x Protocol is -% in the last 24 hours with a circulating supply of 848.40M.
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0x (ZRX) is a protocol that enables the decentralized exchange of tokens and assets issued on the Ethereum blockchain. Developers can use 0x to build their own cryptocurrency exchange applications with extensive features, such as enabling over-the-counter trading of Ethereum-based tokens. The ZRX token is used to implement decentralized governance of the 0x protocol, allowing users to vote on improvements to the underlying smart contracts.
The core infrastructure of 0x is built on two mechanisms to facilitate trading: state channels, which enable transactions off the Ethereum network to reduce costs; and Automated Market Makers (AMMs), which provide liquidity for peer-to-peer (C2C) trading on the 0x network.
ZRX, the native cryptocurrency of 0x, is an ERC-20 token primarily used to pay transaction fees to relayers. Relayers connect market makers and takers to complete trades. Following the Ethereum Merge, ZRX now uses the Proof-of-Stake (PoS) consensus mechanism for validation.
After completing trades via state channels and the AMM system, users can use ZRX to pay fees to the relayers involved in the process. Additionally, ZRX can be used for global, borderless payments and cryptocurrency trading.
0x was founded by San Francisco developers and tech entrepreneurs Will Warren and Amir Bandeali. The two co-founded 0x Labs in 2017, the parent company of the 0x DEX and its cryptocurrency.
The state channel system moves transactions off-chain to other platforms, reducing the costs and fees required on the Ethereum blockchain network, thus enabling efficient trading. The AMM protocol then uses liquidity provided by relayers and peers to settle the trades. This system is also known as an “off-chain order relay with on-chain settlement.”
0x’s key innovation lies in its combination of state channel and AMM protocols, offering multiple benefits to traders on the platform. While other networks typically implement only one of these technologies, 0x integrates both to significantly enhance the trading experience. Additionally, 0x gained attention after raising $24 million in its Initial Coin Offering (ICO) in 2017.
The maximum supply of ZRX is 1 billion tokens. As of this writing, the circulating supply is reportedly 847,496,055 tokens.
The 0x Protocol to other currencies exchange rate?
