Presentation and definition of the crypto-currency 0x (ZRX)
- Name of the crypto-currency : 0x
- Acronym : ZRX
- Where to buy the ZRX ? Binance
- Creation Date : August 2017
- White paper of 0x
- Web Site 0x
The system 0x
Ox is a system of exchange decentralized peer-to-peer, which works on the blockchain of Ethereum with tokens ERC20. The transactions on the network are provided via smart contracts.
How does the protocol 0x ?
The system 0x allows to reduce the cost of GAS for the transactions on the blockchain Ethereum.
It is important to know that a significant number of decentralised networks which operate using the blockchain of Ethereum and smart contracts. All transactions are therefore carried out in the framework of smart contracts and the user to keep a total control of its funds, without any third party involvement. In this same way, each time a user wants to manage its funds and to perform an action, it must do so via the blockchain. Each operation costs of the GAS : it is a tax.
The protocol 0x is therefore to improve the decentralized exchange and reduce costs. In summary, the system 0x allows a user to send a command out-string that another member will have to fill. This process is used to reduce the cost of GAS incurred. The transactions go as well with the relay, the “relayers” who will have the mission of presenting the commands and broadcast them on the network. The relay will then be rewarded by receiving the ZRX, the currency of 0x.
The chips ZRX
The chips TETRAHALIDES are used on the network 0x to reward the runners but also to vote on decisions relating to 0x and its development.