0x: Everything you need to know

It has been a really long time since the cryptocurrency industry was first introduced and honestly, the industry has had a wonderful journey so far by being able to lure in potential investors from all across the globe and managing to make a name for itself in the global marketplace. Not just that, as mentioned, the industry has had a surge in its overall growth and popularity recently, thus helping it to reach greater heights!

Having said that, I believe a majority of you are already familiar with the basics of the industry and I am sure that you are eagerly waiting for us to start with what we have with us today but, for some of you who are new to this whole thing, it’s best if we have a brief look at the industry first.

To begin with, cryptocurrencies as the name suggest is nothing but a form of online or virtual currencies that can easily be made use of for a variety of purposes including the purchase and sale of goods and services as well as for the purpose of trade and exchange over cryptocurrency exchanges available online.

In other words, crypto is a blockchain-based platform that is known to be decentralized to its very core. Being decentralized, the crypto world becomes more than capable of stepping outside the overall control and jurisdiction of central authorities and can work freely without any unnecessary government interferences as well.

Also, when the industry was first introduced there were not many currencies to choose from and honestly, not many people were looking to be a part of it either as people back then were very skeptical with respect to the return on investments they could expect as well as the safety of their money too.

That is surely not the case anymore as today, we have pools of currencies available for investors to choose from, with newer ones coming in with each passing day and tons of new investors joining in every hour.

Speaking of a lot of currencies available today in the marketplace, some of the most popular ones worth investing in includes Bitcoin, Cardano, Baby Doge, Ethereum, Dogecoin, Polkadot, Binance Coin, PancakeSwap as well as EverGrow Coin to name just a few of course.

In addition to this, it feels rather interesting seeing such a rapid growth of the industry over the past couple of years and so, let’s look at some of the major contributing factors responsible for this huge success including portability, high-profit margins, volatility, negligible response time, convince it offers, intuitive nature as well as ease of use of course.

Being volatile, it is important for you to be aware of the fact that, it is not always possible to predict the price changes and act accordingly as the price fluctuations in the crypto marketplace are almost immediate, thus leaving no time to plan. Therefore, whenever dealing in online currencies, keep in mind that, if the industry is providing you with an opportunity to earn huge profits and make quick money, if not done right, you could also end up having significantly huge losses as well.

Not just that, as per the chatter amongst some of the leading experts on the field, it has come to our notice that, crypto is rapidly progressing towards completely revolutionizing the global payment system and from where I stand, it looks like it has already started to do so as many merchants and businesses have started accepting crypto as an official mode of payment from their customers.

Now that you have a brief backstory about the crypto world, you will be able to have a much better understanding of what we have with us today, 0x. To know more, I suggest you read further!

Everything to know about 0x (ZRX)

0x or as commonly referred to as ZRX is nothing but an infrastructure protocol that is known to allow users on the platform to easily trade ERC20 tokens as well as other assets on the Ethereum blockchain that too without having to rely on centralized intermediaries like traditional crypto exchanges. 

Not just that, the platform is said to be able to achieve its decentralized exchange functionality by simply making use of a collection of open-source, publicly auditable smart contracts that are known to work together in order to produce low friction,  flexible trading protocol that developers can easily weave into their very own products. 

Before moving any further, it is probably worth noting that, 0x was founded by Amir Bandeali along with Will Warren back in 2016 and is known to be serving the project as CTO and CEO respectively even today. In addition to this, 0x was launched after an initial coin offering (ICO) in 2017, during which the platform managed to raise nearly 24 million dollars with the support from prominent investment firms which include Pantera Capital, Polychain Capital, and FBG Capital. 

Also, ZRX is said to be the native utility token of the 0x platform, which as a matter of fact can be used for a variety of purposes on the platform itself like to participate in platform governance, helping holders suggest and vote on several changes to the said protocol and more.

Coming back to the topic, Nodes or as commonly known as relayers, that host an off-chain order book, while offering user-facing applications that present this information and enable users to fill, make and cancel transactions are also paid in the form of ZRX tokens. 

Basically, 0x is simply a peer-to-peer exchange of Etehreum-based tokens, which uses smart contracts over a shared infrastructure, while its technology merges two strategies, automated market makers (AMMs) and state channels that have already been suggested to overcome these problems.

Furthermore, unlike various other Ethereum decentralized exchange protocols, 0x supports both non-fungible (ERC-723) as well as fungible (ERC20) tokens, which means that it can easily be used for the permissionless trading of a rather wide range of assets, thus providing holders with a way to sell, purchase and exchange a vast majority of Ethereum assets via more than a dozen different applications. 

The  0x protocol can be used for a very wide range of use cases like OTC trading desks, eBay style marketplaces for virtual goods and services as well as exchange functionality for protocols of decentralized finance and plain old decentralized exchanges.

Lastly, although 0x can be made use of in order to build flexible exchange products, it can also be built into certain products where assets exchange is a rather secondary feature like for portfolio management platforms as well as in-game purchases. 

Now that we have talked much about 0x, some of you must be wondering, whether or not it is a good idea to invest in the platform? If that’s the case, then let’s find out, shall we?

Investing in 0x (ZRX)

As of today, the price of 0x is about 0.992035 US dollars with a twenty-four-hour trading volume of 1,536,149,630 dollars. Not just that, in just the past twenty-four hours, the value of the 0x has gone up by 36.77 percent, and with the current market cap of 840,745,588 US dollars, ZRX is currently placed at #94 position as per the CoinMarketCap rankings.

Also, it is worth mentioning that, the current circulating supply of the 0x is 847,496,055 ZRX coins, with the maximum lifetime supply of the token being 1,000,000,000 ZRX coins. In just the past week alone, the price of the platform has risen by  29.77 percent.

Reading so far, you must have gotten a fair understanding of the platform and by now, you should be able to figure out on your own whether or not investing in 0x is the right thing for you to do. Seeing what it has to offer when combined with its performance in the recent past as well as its plans for the near future, I certainly believe that 0x can prove to be a profitable investment in the near future, which is likely to provide you with higher returns and it is a possibility that your current investment may increase in value. But again, nothing can be said for sure!

If still not convinced, see it this way that, if say you buy 0x worth a hundred dollars today, you will receive nearly 100.806 ZRX. According to the analysis done by experts in the field, after five years of your investment, the return is expected to be about +128.43 percent and thus, your current hundred-dollar investment will be nearly 228.43 US dollars in 2027.

As mentioned at the very beginning, crypto is a highly volatile marketplace and is extremely uncertain. Thus, It is very important for you to understand the fact that just like any other currency in the crypto marketplace, 0x does have its own risks as well and you should invest only if you are willing to take those risks and bear any and all losses if at all necessary.

If you are wondering, where can you buy 0x? Let me help you with that. Currently, 0x is available on all major crypto exchanges but, some of the popular exchanges that have ZRX listed on them include Binance, OKX, Bybit as well as FTX to name a few.  

In conclusion, what are your thoughts on 0x? Do let us know in the comments area below. To know more about various cryptocurrencies, do check out other articles we have on our website. Thank you for your time & if you found our content informative, do share it with your investor friends!

Also read: Metal: Everything you need to know