0x, a protocol for decentralized exchanges

0x, a protocol for decentralized exchanges

By BtcSapiens | btcsapiens | 12 May 2019

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At this point, it is still very common to exchange cryptocurrencies in exchange houses or centralized exchanges, and although the idea of ​​exchanging decentralized coins in centralized houses may seem contradictory, we must be realistic, and it is normal considering that there are more than 300 housing units.

Centralized exchanges that allow crypto exchanges, so they cover a need that other alternatives have not yet covered, since there are few decentralized markets where we can operate with our currencies without unnecessary fees, and safeguarding our tokens in a more secure way.

This is where 0x (ZRX) comes into play by offering decentralized exchanges in the Ethereum blockchains through a protocol of free use that provides the necessary tools so that anyone can create a decentralized exchange house, this, allows that there are places of purchase and sale with free or much lower fees and with the control of our tokens, currently, 0x allows exchanges between all tokens ERC 20 and ERC 721

In addition, through the use of smart contracts, it eliminates one of the major problems, the barrier of trust between parties, since with 0x we can make an exchange of cryptocurrencies with another person using these contracts to define the variables or conditions, for example, send X amount of satoshis to an address only if I receive AND amount of lithoshis from another particular address.

0x also means that any person, company or organization that has an online store can exchange their own cryptocurrency directly from their website without having to previously resort to a centralized exchange, with the advantages of saving both time and money.

As a fact, it is still curious to see quoting the 0x currency (ZRX) in some centralized markets. What kind of value does ZRX have? What do you think about Protocol 0x? Feel free to express your opinion in the comments, Thanks for reading!

NOTE: This post is a translated adaptation of my article in spanish "0x, un protocolo para intercambios descentralizados"

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