ZRX
Reputation Ratings

ZRX

0x 5-10 years
Website https://0x.org/
Browser
OTH RELPs
Github
White Paper
Avg Price
-3.95%
1D

$ 0.3475 USD

$ 0.3475 USD

Market Cap

$ 297.412 million USD

$ 297.412m USD

24h trading volume

$ 7.568 million USD

$ 7.568m USD

7d Vol

$ 129.872 million USD

$ 129.872m USD

Circulating supply

847.496 million ZRX

Related information

Issue Time

2017-08-17

Platform pertained to

--

Current price

$0.3475USD

Market Cap

$297.412mUSD

Volume of Transaction

24h

$7.568mUSD

Circulating supply

847.496mZRX

Volume of Transaction

7d

$129.872mUSD

Change

24h

-3.95%

Number of Markets

360

Github Messages

More

Warehouse

Vitaly Koynov

Github's IP Address

[Copy]

Codebase Size

10

Last Updated Time

2020-12-28 10:37:42

Language Involved

--

Agreement

--

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Historical Price

Introduction

Markets

3H

+2.05%

1D

-3.95%

1W

-9.19%

1M

-38.87%

1Y

+66.76%

All

+55.17%

Aspect Information
Short Name ZRX
Full Name 0x Protocol Token
Founded Year 2016
Main Founders Will Warren, Amir Bandeali
Support Exchanges Binance, Coinbase, Kraken, etc.
Storage Wallet Metamask, Ledger, Trust Wallet, etc.

Overview of ZRX

ZRX, or the 0x Protocol Token, is a type of cryptocurrency that was founded in 2016 by Will Warren and Amir Bandeali. It operates on the Ethereum blockchain and functions as the native token of the 0x Protocol, an open-source infrastructure that enables the peer-to-peer exchange of assets on the Ethereum blockchain. The 0x Protocol is known for its decentralized trade execution model, which aims to reduce the cost of trading and improve the matching of buyers and sellers in the market.

ZRX tokens are used for protocol governance, giving holders a say in the future development of the 0x Protocol. They can also be used to pay for trading fees within the 0x Protocol's ecosystem. ZRX can be purchased on various exchanges, including but not limited to Binance, Coinbase, and Kraken. For storage, ZRX can be stored in various digital wallets such as Metamask, Ledger, and Trust Wallet.

cover

Pros and Cons

Pros Cons
Decentralized Trade Execution Dependent on Ethereum's Performance
Protocol Governance Competitive Marketplace
Integrated Payment in Several Exchanges Limited Use Outside of 0x Ecosystem
Backing of Reputable Founders Regulatory Uncertainty

Pros:

1. Decentralized Trade Execution: ZRX operates through the 0x Protocol, an open-source infrastructure that facilitates peer-to-peer exchanges. This means that trades on this network bypass intermediaries, thus reducing the cost of transactions and improving the speed of execution.

2. Protocol Governance: ZRX token holders have the right to participate in the project's governance. This means that by holding these tokens, they can propose or vote on changes to the protocol thereby having a say in the project's future direction.

3. Integrated Payment in Several Exchanges: ZRX tokens are widely accepted across a number of exchanges. This increases the liquidity of the currency and makes it more accessible to investors and traders.

4. Backing of Reputable Founders: ZRX was designed by Will Warren and Amir Bandeali, two individuals who are respected in the blockchain and cryptocurrency industry. This boosts confidence in the project and its future prospects.

Cons:

1. Dependence on Ethereum's Performance: As ZRX is developed on the Ethereum blockchain, its performance and success are directly linked to Ethereum's scalability and performance issues. If Ethereum faces technical issues, this could potentially impact ZRX as well.

2. Competitive Marketplace: With the rise of DeFi and the increasing number of protocols offering decentralized exchanges, 0x faces significant competition. This means that ZRX must continually innovate to maintain its competitiveness.

3. Limited Use Outside of the 0x Ecosystem: ZRX tokens have primarily been designed to work within the 0x ecosystem. As such, their use-case is fairly limited outside of this system. This could potentially limit the token's market penetration and growth.

4. Regulatory Uncertainty: Given that ZRX allows for the trading of tokens, it could attract regulatory attention. This uncertainty about future regulations poses a potential risk to the project.

What Makes ZRX Unique?

What makes ZRX unique is that it is one of the few DEX protocols that offers a wide range of APIs, including a Swap API, Tx Relay API, Orderbook API, Tx History API, and Token Registry API. These APIs make it easy for developers to build and integrate DEX functionality into their own applications.

For example, the Swap API allows developers to easily add swap functionality to their applications, while the Tx Relay API allows developers to build frictionless apps with end-to-end gasless infrastructure. The Orderbook API, Tx History API, and Token Registry API are all coming soon, but they promise to make it even easier for developers to build and integrate DEX functionality into their own applications.

In addition to its wide range of APIs, ZRX is also unique because it is used to reward relayers for hosting order books and facilitating trades on the 0x protocol. This helps to ensure that the 0x protocol is secure and efficient.

Another aspect of ZRX that sets it apart is its protocol governance feature. Holders of ZRX tokens have the opportunity to influence the development and future direction of the 0x Protocol by proposing or voting on changes. This represents a level of democratic participation not commonly seen in many other cryptocurrencies.

what makes ZRX unique

How Does ZRX Work?

0x is a decentralized exchange (DEX) protocol that enables peer-to-peer trading of Ethereum-based assets. It works by allowing users to create and broadcast orders off-chain, and then settle the trades on-chain. This makes 0x a flexible and gas-efficient DEX protocol for developers to build on.

To trade on 0x, a user first needs to create an order. This order can be for any type of Ethereum-based asset, including fungible tokens, non-fungible tokens, and bundles of assets. The order is then hashed and signed by the user to cryptographically commit to the order.

Once the order is created, the user can share it with a counter-party directly, or submit it to an order book. If the user submits the order to an order book, it will be aggregated with other orders for the same asset to create a single market.

When a user wants to fill an order, they submit the order and the amount they are willing to fill it for to the blockchain. The 0x protocol then verifies the maker's digital signature and that all the conditions of the trade are satisfied. If so, the assets involved are atomically swapped between maker and taker. If not, the trade is reverted.

how does zrx work

Circulation of ZRX

The total circulating supply of ZRX is 847,496,055 tokens, as of September 17, 2023. Its price has fluctuated significantly since its launch in 2017, reaching an all-time high of over $2 in January 2018 and falling to a low of under $0.10 in March 2020. The price has since recovered and is currently trading at around $0.19.

Circulation

Exchanges to Buy ZRX

Numerous exchanges support the purchase of ZRX, allowing users to trade this token with various currency and token pairs. Some of the notable exchanges, along with the favored pairs, include:

1. Binance: This exchange supports ZRX/BTC, ZRX/ETH, ZRX/BNB, and ZRX/USD pairs.

2. Coinbase Pro: Here, one can trade ZRX/USD, ZRX/BTC, and ZRX/EUR.

3. Kraken: Offers pairs such as ZRX/USD, ZRX/EUR, and ZRX/ETH.

4. Bitfinex: This exchange supports ZRX/USD and ZRX/BTC pairs.

5. Bittrex: Users can make transactions with ZRX/BTC and ZRX/ETH pairs.

6. HitBTC: On this platform, users can trade ZRX with BTC, USDT, and ETH.

7. OKEx: Offers pairings such as ZRX/USDT, ZRX/BTC, and ZRX/ETH.

8. KuCoin: Supports ZRX/BTC and ZRX/ETH pairs.

9. Huobi: Provides ZRX/USDT, ZRX/BTC, and ZRX/ETH pairs.

10. Gemini: On this exchange, users can trade ZRX with USD.

Please note that available pairs may vary depending on geographical location and they can change as exchanges adjust their listings. It's recommended to check the current status on the respective exchanges before making any transactions.

How to Store ZRX?

Storing ZRX tokens involves the use of digital wallets that are compatible with ERC20 tokens, given that ZRX is an ERC20 token on the Ethereum platform. ERC20 is a technical standard used for smart contracts on the Ethereum blockchain. Here are some wallet options:

1. Metamask: This is a browser-based wallet that can be installed as an extension in browsers like Chrome and Firefox. It's also available as a mobile app on Android and iOS. Metamask is easy to use and it directly interacts with decentralized applications on the Ethereum blockchain.

2. Ledger: This is a hardware wallet, which is considered one of the safest means to store cryptocurrencies. To store ZRX on Ledger, users need to integrate it with a compatible software wallet like MyEtherWallet or MyCrypto.

3. Trust Wallet: Operating as a mobile wallet for Android and iOS, Trust Wallet provides a secure and easy interface for storing your ZRX tokens.

4. MyEtherWallet: Often referred to as MEW, MyEtherWallet is a web-based wallet that supports all ERC20 tokens. Users can log in via private keys, Keystore files, or mnemonic phrases.

5. Trezor: Like Ledger, Trezor is another hardware wallet that provides high-security storage for cryptocurrencies including ZRX. It also needs to be used in conjunction with a compatible software wallet.

Remember to keep your private keys and recovery phrases secure when using any wallet to protect your assets from unauthorized access. Also, note that transferring your tokens to a wallet from an exchange may incur a network fee.

Should You Buy ZRX?

ZRX could be suitable for individuals who have a good understanding of cryptocurrency trading and the operations of decentralized protocols. As ZRX tokens play a major role in the 0x protocol system such as paying for transaction fees and having a say in the project's governance, it can appeal to those who wish to actively use and participate in the 0x Ecosystem.

For those who want to purchase ZRX, some objective advice includes:

1. Understanding Blockchain: It's essential to comprehend the basic principles of blockchain technology and smart contracts, especially given that ZRX is built on the Ethereum network.

2. Research 0x Protocol: An understanding of the workings, goals, and future plans of the 0x protocol will help buyers make informed investment decisions.

3. Track Market Conditions: Like all cryptocurrencies, ZRX prices are subject to volatility. Keeping an eye on market trends and financial news related to ZRX and Ethereum can be beneficial.

4. Choose a Secure Wallet: To secure ZRX, use reliable wallets that provide security features and support ERC20 tokens.

5. Set a Budget: As a rule of thumb for any form of investment, don't invest more than what you can afford to lose given the inherent risk associated with crypto investments.

6. Legal and Regulatory Compliance: Make sure to comply with the laws and regulations concerning cryptocurrency investments in your country or region.

Please always carry out your own in-depth research before making any investment decisions. Consult with a financial advisor if necessary.

Conclusion

ZRX, short for 0x protocol token, is a form of cryptocurrency that is built on the Ethereum blockchain and facilitates peer-to-peer exchanges through its decentralized trade execution mechanism. It distinguishes itself from many other cryptocurrencies by enabling its token holders to actively participate in the project governance and play an integral role in the future development of the protocol.

ZRX has shown potential for growth due to its unique offerings and the rising trend of decentralized finance (DeFi). However, like all cryptocurrencies, its development prospect and value appreciation largely depend on several factors. These include its own technical improvements, the overall performance of Ethereum, as well as broader market trends and regulatory conditions in the cryptocurrency space.

Investors can potentially make money from trading or holding ZRX. However, due to the inherent volatility and uncertainty in the crypto market, the potential for losses also exists. Therefore, potential investors should carry out comprehensive research or obtain professional advice before investing in ZRX or any other cryptocurrency. They should also understand their risk tolerance and investment objectives to make informed investment decisions.

FAQs

Q: What key applications does ZRX possess in the 0x Protocol?

A: In the 0x Protocol, ZRX token holders can pay trading fees and participate in the protocol governance by proposing changes and voting on decisions.

Q: What are some key strengths and weaknesses of the ZRX token?

A: Key advantages of ZRX include its decentralized trading function and protocol governance; meanwhile, weaknesses include its dependency on Ethereum's performance, limited use case outside the 0x ecosystem, and regulatory challenges.

Q: What are some distinguishing features of the ZRX token as compared to other cryptocurrencies?

A: Notable features of ZRX include its use of Ethereum's smart contract technology for decentralized trade execution and its use of protocol governance, giving token holders influence in the project's future.

Q: How does the performance of the Ethereum blockchain affect ZRX?

A: As ZRX is based on the Ethereum blockchain, it is subject to the scalability and performance of Ethereum, meaning any issues faced by Ethereum could directly impact ZRX functionality.

Q: Is there a definitive guide for potential ZRX investors?

A: Potential ZRX investors should grasp fundamental blockchain principles and the 0x protocol, monitor market conditions, use secure wallets, budget appropriately, and comply with relevant laws and regulations.

Q: What might the future of ZRX look like?

A: ZRX has development potential due to its unique mechanisms and rise of DeFi; however, its future value could be influenced by its technical enhancements, Ethereums performance, market trends and regulatory circumstances.

Q: Is ZRX a good investment opportunity?

A: ZRX's potential as an investment depends on several factors, including market conditions, the investor's risk tolerance, and investment objectives; therefore, thorough personal research or professional consultation is advised before making any investment decisions.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.

User Reviews

More

5 ratings

Participate in evaluation
Araminah
0x (ZRX): An open protocol that enables the peer-to-peer exchange of assets on the Ethereum blockchain.
2023-10-16 09:10
9
Windowlight
0x's protocol for decentralized exchanges provides a foundation for the growing decentralized finance ecosystem, making ZRX an integral part of the evolving financial landscape.
2023-12-22 00:32
3
FX1145617154
As a geek, I am not very satisfied or disappointed with the 0x protocol. The transaction speed is quite fast, but the customer service support response speed is average, I hope they can improve it.
2024-02-25 02:32
8
Jenny8248
It's used for governance and fees within the 0x ecosystem. The protocol's goal is to create a decentralized exchange infrastructure for various tokens.
2023-12-05 00:09
5
Smart Singh
This project is super strong. Developers are doing super working behind this project and marketing team and nice. I am looking forward to this project.
2022-12-08 14:27
0