{"id":10174,"date":"2023-06-26T07:58:56","date_gmt":"2023-06-26T07:58:56","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=10174"},"modified":"2022-05-17T02:13:24","modified_gmt":"2022-05-17T02:13:24","slug":"what-is-0x","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/what-is-0x","title":{"rendered":"What is 0x (ZRX)? The complete guide"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-0x\/#history_of_0x\" >History of 0x<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-0x\/#how_does_0x_work_zrx\" >How does 0x work (ZRX)?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-0x\/#0x_wallets\" >0x Wallets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-0x\/#price_of_0x\" >Price of 0x<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-0x\/#where_to_buy_0x\" >Where to buy 0x?<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><p>If you\u2019ve heard about the 0x project and you don\u2019t know what it is, we explain it easily. The project 0x<b>\u00a0is a protocol created to make possible the operation of decentralized cryptocurrency exchanges.<\/b><\/p>\n<p>This project is a tool designed to make possible the<b>\u00a0operation through smart contracts<\/b>\u00a0of exchanges that work in a decentralized way. All this while programs run on Ethereum blockchain technology.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"history_of_0x\"><\/span><b>History of 0x<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The start of project 0x dates back to<b>\u00a0end of year 2016\u00a0<\/b>when co-founders Will Warren and Amir Bandeali stepped in to start the project. Both creators brought the project to light with the aim of creating a platform with the ability to manage exchanges in a decentralized and secure way. The platform not only had to be secure, but also had to have properties such as scalability and it had to be able to easily adapt to the changes that the market demands in the future.\u00a0<b>Finally, in August 2017 the 0x token was released to the market.<\/b><\/p>\n<p>The team that created 0x was not only formed by two co-founders, but also by\u00a0<b>blockchain and software engineers, graphic designers and business strategists<\/b>. Project developers advocated tokenization, meaning that any asset can be represented as a token in the Ethereum blockchain.<\/p>\n<p><b>To finance a project of this magnitude, the team launched an ICO<\/b>\u00a0(Initial Coin Offering). This took place in 2018 and was one of the most important, since\u00a0<strong>managed to raise more than 20 million dollars in Ethers<\/strong>. In this way the project was able to move forward.<\/p>\n<div id=\"image_1554839562\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-11-que-es-0x-03.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-11-que-es-0x-03.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-11-que-es-0x-03-300x205.jpg 300w\" alt=\"que es 0x Bitnovo\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-11-que-es-0x-03.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-11-que-es-0x-03-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-11-que-es-0x-03.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<p>Amir Bandeali and Will Warren, co-founders of 0x.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"how_does_0x_work_zrx\"><\/span><b>How does 0x work (ZRX)?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This protocol\u00a0<b>allows any user or entity to easily provide a token exchange combination.\u00a0<\/b>In this way many developers build their own decentralized exchanges and thus avoid centralized exchanges.<\/p>\n<p>To achieve these exchanges\u00a0<b>0x project is based on smart contracts,<\/b>\u00a0solution for decentralized application development. Smart contracts are in charge of processing each operation in 0x so they would be the brains of the project.<\/p>\n<p>The functioning of 0x<b>\u00a0merges two important variables to the system such as connected liquidity and easy and flexible integration<\/b>.<\/p>\n<ul>\n<li>With connected liquidity we mean a layer that allows businesses to enter shared groups of digital assets. This lowers the barriers for businesses and their businesses.<\/li>\n<li>The integration is easy and flexible as it allows to add to the experience of other products the functionality of exchange platform.<\/li>\n<\/ul>\n<p><b>At present, the project consists of a total of 10 intelligent contracts which have a separate specific function.<\/b><\/p>\n<p>On the other hand, the performance of 0x also depends on the\u00a0<b>Relayers. These are computers that run the 0x software<\/b>. By joining them, relayers create the autonomous network and at the same time manage the order book and the off chain network.<\/p>\n<p>They also have more features such as allowing users to work with the order book through DApps. Basically, the network depends on them and they guarantee the security of those who access the network thanks to the handling of information in cryptographic form.<\/p>\n<p>Users pay Relayers transaction fees with ZRX tokens.\u00a0<b>Those with ZRX also have protocol inputs and proportional improvements according to the amount they own.<\/b><\/p>\n<p>In addition, this token has two main functions.<\/p>\n<ul>\n<li>The first is to improve the liquidity of the network through a process of economic feedback<\/li>\n<li>And the second to help manage decentralised governance.<\/li>\n<\/ul>\n<p><b>Now that you know the operation of the project we will see the process to make a decentralized exchange.<\/b><\/p>\n<p>First a user requests an exchange through an order. The order specifies the change you want with the time it expires and signing the order with your private key. The order is broadcast on the network for processing by relayers.<\/p>\n<p>If the other party accepts the order, then the contract is approved. The counterparty must sign their agreement with the transaction and ready. The contract authenticates the signatures and verifies that the order has not expired. If all goes well the transfer is done and the tokens are sent between the two users.<\/p>\n<div id=\"image_1112503666\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-11-que-es-0x-04.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-11-que-es-0x-04.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-11-que-es-0x-04-300x205.jpg 300w\" alt=\"que es 0x Bitnovo\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-11-que-es-0x-04.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-11-que-es-0x-04-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-11-que-es-0x-04.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"0x_wallets\"><\/span><b>0x Wallets<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>If you want to store your ZRX you will need a place to store them. That place is a wallet where you can store your digital coins securely.<\/p>\n<p>Among the options to store this token you can use numerous exchanges that contain built-in wallets for 0x cryptocurrencies, however, they are not the most recommended option in terms of security.<\/p>\n<p>On the other hand, with the software purses you will have more peace of mind, as your assets are totally under your control.<b>\u00a0A good storage option is\u00a0<\/b><a href=\"https:\/\/www.argent.xyz\/\"><b>Argent<\/b><\/a><b>. This wallet provides security and also has a simple interface which makes it the perfect candidate to start in this world efficiently and reliably.<\/b>\u00a0It is one of the best options to store your 0x tokens.<\/p>\n<p>Another option is the wallet\u00a0<a href=\"https:\/\/www.exodus.io\/\">Exodus<\/a>. This wallet has a storage of more than 700 tokens and a design very easy to understand.<\/p>\n<p>If you prefer a step further in security you can try a walllet hardware like TREZOR, as it is also compatible with 0x.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"price_of_0x\"><\/span><b>Price of 0x<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Like many tokens, ZRX has a maximum supply that cannot exceed.\u00a0<b>This supply is 1 billion ZRX<\/b>. Currently more than three quarters are in circulation, in turn, a small part is locked for rewards.<\/p>\n<p>This token has had many ups and downs and fluctuations in its price<b>. With peaks like the beginning of 2018 when its value reached 2.5 USD<\/b>, currently stands at a value between $0.33 and $0.35.\u00a0<b>Its worst drop was in March 2020 when its price fell to just $0.12.<\/b><\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"where_to_buy_0x\"><\/span><b>Where to buy 0x?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>If you want to know\u00a0<strong>how to buy ZRX<\/strong>\u00a0or where to do it, of course we will recommend you\u00a0<strong>to buy ZRX at\u00a0<\/strong><strong><a href=\"https:\/\/www.bitnovo.com\/buy-zrx-online-en\">Bitnovo<\/a><\/strong>. And this is not simply because we are inside the brand blog, but Bitnovo is really a fast and safe way to do it.<\/p>\n<p>Our goal as a company is to make a person who just entered the crypto world\u00a0<strong>able to buy any cryptocurrency in a matter of minutes<\/strong>, without experiencing the problems that most crypto exchanges have.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>If you\u2019ve heard about the 0x project and you don\u2019t know what it is, we explain it easily. The project 0x\u00a0is a protocol created to make possible the operation of decentralized cryptocurrency exchanges. This project is a tool designed to make possible the\u00a0operation through smart contracts\u00a0of exchanges that work in a decentralized way. All this [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":7112,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10174","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-criptomonedas"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/10174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=10174"}],"version-history":[{"count":0,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/10174\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/7112"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=10174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=10174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=10174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}