0x Protocol price is $0.29743300
| Market Rank | #255 |
|---|---|
| Market Cap | $ 252.3M |
| Volume 24h | $ 39.8M |
| Circ. Supply | 848.4M |
| Total Supply | 1000.0M |
| Max Supply | 1000.0M |
| Genesis Date | 11/8/2017 |
The current price of 0x Protocol (ZRX) is $ 0.29743300, with a change of -3.00% over the past 24 hours. It should be noted that cryptocurrency prices can be extremely volatile and may have changed since this text was written.
0x Protocol (ZRX) is a decentralized exchange (DEX) protocol that allows for the peer-to-peer exchange of assets on the Ethereum blockchain. It is unique in that it attempts to address some of the inefficiencies of both centralized and traditional decentralized exchanges by utilizing a hybrid infrastructure. ZRX is the native utility token of the 0x Protocol.
The 0x Protocol was created by Will Warren and Amir Bandeali in 2017. Their goal was to allow for decentralized exchanges to function with the same level of efficiency as centralized ones, while maintaining the benefits of decentralization, such as censorship resistance and enhanced user privacy.
The 0x Protocol operates as an open protocol that facilitates smooth trading of Ethereum-based tokens. It uses a system of smart contracts that essentially act as trustless middlemen for these trades. The smart contracts verify the conditions of the trade, transact directly from the sellers' to buyers' wallets and ensure that both parties fulfill their part of the transaction. ZRX tokens are used as a form of governance within the platform, allowing holders to vote on future upgrades and changes to the protocol.
0x Protocol is unique in its approach to promote a more efficient form of decentralized exchange. By operating off-chain order books, 0x protocol mitigates the congestion and high gas fees often associated with performing every transaction directly on the Ethereum blockchain. In addition, it also provides a protocol upon which developers can build their own DEX in a plug-and-play fashion.
Security is a topmost priority in the 0x Protocol with each trade executed via a series smart contracts, ensuring that each transaction is completed in a trustless manner. The smart contracts used by 0x protocol have also undergone multiple audits by reputable external security firms. Moreover, it's important to note that as with any cryptocurrency, holding ZRX tokens involves risk and it's essential to secure your assets by using a secure wallet and robust protection measures.
Currently, the circulating supply of 0x Protocol (ZRX) tokens is 848.4M out of a total supply of 1000.0M tokens. Any changes in the tokenomics of the protocol would be proposed and voted on by ZRX holders as part of the platform's on-chain governance structure.
ZRX tokens can be purchased through various digital currency exchanges. Some of the major platforms that offer 0x Protocol (ZRX) include Probit, Coinbase, Binance, Bitkub, Bibox. Always ensure to use reputable exchanges, secure and protect your wallet keys and make wise trading decisions as cryptocurrency investments come with certain risks.
ZRX tokens are ERC-20 tokens, which means they can be stored in any wallet that supports Ethereum-based tokens. This includes both hardware wallets and software wallets. As always, ensuring the safety and security of your wallet is essential. Make sure the wallet is encrypted, and always enable two-factor authentication (if the wallet supports it) to further protect your funds from unauthorized access.
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