0x is a protocol that enables the exchange of ERC20 tokens. Any individual or business can apply 0x in the backend to operate a regionalized exchange. With Ox, users can do ERC20 transactions in a secure and quick manner applying the Ethereum smart contracts. The primary objective of Ox is to use the Ether tokens as efficiently as possible and facilitates all types of assets, such as commodities, stocks, gold, fiat currency and any other similar, to be used as tokens.
Users have been facing different types of challenges with the available exchanges. While the centralized exchanges have security issues and have the risk of one point of failure, the decentralized exchanges grew in popularity which added pressure on the exchanges. They face issues of downtime and latency. The performance is affected and expenses in power consumption increased. Centralized exchanges were faster in transacting business and authorizing trading orders than the decentralized ones. Ox is an effort to eliminate the drawbacks while strengthening the efficiency of a standard protocol.
The idea behind ZRX is to have a world that will enable every asset to be a part of the Ethereum blockchain. Each asset has its own token which will result in numerous tokens each with its own way of operations. Ox initiators aimed to make it a decentralized exchange for the Ethereum blockchain and be the medium via which the Ethereum tokens can be exchanged in a safe and effortless manner.
To operate all the orders in a blockchain required the users to pay a transaction fee for each dealing. ZRX with its standard protocol speeds up the process and cuts down many of the transaction fees. Ox does not charge any fee though it has a provision for the Relayers to charge a fee for any transaction done for using ZRX.
The challenges that Ox tries to remove will improve the adoption of cryptocurrency. The company raised over $665 million in one month through ICO (Initial Coin Offerings) which is almost double of what it had collected in the previous 5 months. This shows the wide acceptance of ZRX by the investors. Ox has entered an alliance with several; existing established enterprises as well as most of the budding startups. Ox has the all the makings that are what investors look for in an ICO. There are possibilities of ZRX growing popular and stronger in the next few years.
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