A qualified and optimistic team developed the 0x project in October 2017. The project aims to create a protocol for P2P trading for any ERC-20 tokens in a transparent and decentralized ecosystem and runs on Ethereum Blockchain. In 2017, Amir Bandeali and Will Warren led a team that introduced a protocol for the decentralized exchange of ERC-20 and ERC-721 tokens.

Their primary aim was to build a secure blockchain network for launching decentralized apps with minimal fees. The Ethereum smart contracts play a vital role in executing all operations inside the 0x protocol. ZRX protocol aims to ease the transaction congestion, which helps in improving reliability, scalability and saves time when operating with a Decentralized Exchange (DEX). Let's further discover this digital currency and look into its potential.

Features of ZRX

ZRX or 0x protocol aims to disrupt the current saturation of centralized exchange in the market. The platform works in a way that solves the main problems of cryptocurrency exchanges

Lack of Decentralization

Today, almost all the popular Cryptocurrency exchanges are centralized. The owner or the development team manages the operations and has full authority over funds. In contrast, at 0x, users have the power to decide regarding the development of the platform through voting.

Vulnerability to Attacks

The protocol does not have a single server. Its servers are scattered all over the world, and the security level of these systems is very high. This is particularly important, since servers and the security of conventional exchanges can be compromised or hacked, resulting in severe losses.

Inconvenience to users

For traders, there is always a possibility of getting their account on a Cryptocurrency exchange blocked. If such happens, the option to withdraw funds from the account also gets disabled. Users have to go through a lengthy process to re-enable their accounts, among which might not be feasible in some countries. 0x offers users the ability to conduct Cryptocurrency trading without registration.

All operations take place outside the Blockchain. Any person can run the application on the platform and become a relay to maintain the performance of the system. For this, users will also be rewarded in the platform's internal tokens, ZRX. There is no restriction on the size of the award but depends directly on the number of repeaters. The reward, however, diminishes in the case of multiple repeaters.

Tokens are also used to pay the network's fees for the launch of applications, creating orders, and trading cryptocurrencies. Furthermore, only ZRX holders have voting rights.

Project Weakness and Strength.

The price of the coin depends on the technology demand of consumers supported by the network. The higher the number of users moving to the innovative protocol, the higher the worth of the token will be.

Actively Development.

The platform is consistently being developed, and there are dozens of decentralized applications running on its Blockchain. Some of the successful Dapps include Paradex, Radar, Veil, Ethfinesx, dEX, LakeTrade, etc.

It Possesses a Technology that has a Promising Niche.

ZRX technology has a promising niche once users realize its potential. Not only can you create decentralized networks with 0x, but the platform also provides other methods for asset tokenization.  Hence, it's an emerging market of billions of dollars in capitalization.

A New Approach to Exchanges.

The platform brings the exchanges a new approach. Not only consumers pay lower commissions, but it also protects the user accounts against hacking and arbitrary bans. The platform also automatically includes all existing and upcoming Ethereum-based token since the protocol is synced with sophisticated Ethereum contracts.

Price Analysis of ZRX

ZRX price saw huge spikes after its listing on exchanges. The coin went from lows of $0.21 to over $2 in a matter of few days. However, the hype was short lived and it came back falling below $0.60. Although I personally don't have high hopes from ZRX, its value in the future is likely to increase as per the popular predictions by experts. The thing is that ZRX boast just another decentralized ERC-20 exchange, similar to many we have seen in past. These platforms die slowly and as per the recent statistics 0x platform is experience a very slow and minimal growth since inception. Although the coin itself has great liquidity and because of its listing on popular exchanges, it will likely move upwards for months to come.