How Does 0x Protocol Work? 0x Protocol Explained for Beginners - Bitfeu

What is 0x Protocol & How it works?

0x protocol 0x is a decentralized exchange protocol that provides the exchange of Ethereum based assets.  0x protocol allows ethereum smart contracts to Ethereum based assets.  Its essentially a decentralized ethereum token trading platforms for developers to build exchanges on top and then users to use those exchange. 

How does it work?

0x supports all Ethereum based assets that adhere to the ERC20 token standard.  Cross-blockchain solutions such as Cosmos Polkadot and other cryptocurrencies to be supported as well. 

0x Protocol­ Use Cases It has the efficiency of state channels transactions off the main block-chain via signed messages between users.  It is the best in the world: because of centralized and decentralized exchange.  It has the fast settlement of on chain order books. 

0x Protocol­ (Transaction Fees)  0x protocol does not require transaction fees but it will have supporting fees as there are costs associated with running exchanges and hosting a live order book.  Supporting fees will allow exchanges to charge transaction fees on trading activityfees will be set up by exchanges and should be competitive.  Tokens will be for decentralized governance over the 0x protocol.

0x Protocol­ Founder Will Warren is the CO-FOUNDER & Chief Executive Officer (CEO) of 0x Protocol.  Amir Bandeali is the Co-founder & Chief Technical Officer (CTO) of 0x Protocol. 

0x Protocol­ Token details 

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ZRX Tokens (ERC 20 token) Maximum supply: 1 billion tokens 500 million – ICO 150 million – retailed by 0x 150 million – founding team 100 million – investors and advisors 100 million – developer fund  No mining tokens available straight away.

0x Protocol­ Advantages Working test product, working java library and great documentation  Solid roadmap  Ico distribution system seems fair  Several partnerships 

0x Protocol­ Disadvantages Currently small team  Only 50% of tokens distributed in the ICO 

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