- Fred Ehrsam is an advisor at ZRX and is also the co-founder of Coinbase
- Linda Xie is also an advisor at ZRX and is also associated with Coinbase as the former capacity of PM.
- Olaf Carlson-Wee is again an advisor at ZRX and has worked at Coinbase in the capacity of PM.
Last but not the least; ZRX is a sponsored project by Coinbase.
Silicon Valley culture:
It is common for Silicon Valley companies to invest in new start-ups and thereafter, to give them a leg up by increasing their business. After Coinbase’s listing of ZRX, the significant increase of the value of ZRX took place. Not only the blockchain became more popular but also the valuation of the cryptocurrency will shoot through the roof. This will ensure that it is able to gain as well. Thereafter, it will just have to worry about the long-term capital gains tax which it makes on ZRX. Moreover, it can do so for the other blockchain projects in which it has invested as well.
One thing which is certain is that Coinbase certainly likes to increase the valuation of the blockchain-based projects in which it is invested. The easiest way to do so is to list them on the blockchain. As a result, automatically the venue increases significantly. Also, it remains to be seen whether it is willing to add a new coin after the last of the debacle in which charges of insider trading were levied on it during the listing of Bitcoin Cash. However, that was quite a few months back and Coinbase has taken steps in order to ensure that such a debacle actually does not happen again.
What is 0x (ZRX)? How to buy ZRX?
0x: The Basics
0x is an open protocol that facilitates low friction peer-to-peer exchange on the Ethereum blockchain, founded by Will Warren (CEO) and Amir Bandeali (CTO),
According to the official website, 0x is the prefix for hexadecimal numeric constants including Ethereum addresses. In a more abstract context, as the first open protocol for exchange 0x represents the beginning of the end for the exchange industry’s rent-seeking oligopoly: zero exchange.
0x is not an application like other coins. It is a protocol, essentially a set of smart contracts, founded by a team with a rich experience in Smart Contract research and blockchain engineering, led by CEO Will Warren. The difference between a protocol and application is a protocol a standard path to transfer data or information. 0z is primarily focused on transferring tokens issued on the Ethereum blockchain from one person to another, without racking up high fees or time delays.
What are the benefits of 0x?
0x facilitates trustless low friction exchange of Ethereum based assets. Ethereum is the popular open-source, public, blockchain-based distributed computing platform. Basically, 0x is trying to make it simpler to go from one token to the next on the blockchain. It does this by making transactions from one token to another much faster. Exchanges involve high costs, which 0x is trying to break down. But decentralised exchanges (the ones that run with smart contracts) have their own issues – gas fees can still add up quickly, and transactions can get slow.
0x intends to fix this by moving most of its transactions offchain, or outside the blockchain.
0x uses relayers, which are smart contracts that broadcast the orders they have to the 0x blockchain, functioning like mini exchanges of sorts. A trade is executed if a user signs a counter order to complete (or make) the transaction.
Only when the trade is executed is the transaction updated on the 0x blockchain – helping users reduce fees by not having to pay for the minutest of things like funds transfers. Whatever fees are generated is paid in the 0x cryptocurrency.
The smart contracts that 0x is running are not specific to a single application. In fact, they’re open sourced – which means any entity can use them to integrate them into their own application or service. In fact, hyped cryptocurrencies such as the Request Network are already being built on top of 0x.
The 0x coin also brings with itself voting rights, allowing users to democratically decide on features, updates, and changes to be made to the 0x blockchain.
How to Buy & store 0x? How to buy 0x
You need to buy either Bitcoin or Ethereum to buy 0x on ironically, centralised exchanges, since it is barely traded via fiat currencies. These centralised exchanges, which remain widely popular, include OKEx, Bittrex, Binance and more.
But when transacting 0x on centralised exchanges, we can’t help notice the very issues that 0x plans to solve by doing away with centralised exchanges – high fees and lack of security.
0x being an ERC20 token so far, all Ethereum wallets also work as a ZRX wallet to store your ZRX token. However, with the launch of its mainnet eventually, it will require its own blockchain.
The most popular of these include:
The future of 0x
If you are looking for virtual currencies that have delivered good returns, ZRX can be a profitable investment option. With 0x price hovering around 0.884 USD as of June 2018, the token has delivered returns of over 8 times since its launch in August 2017. If you buy 0x for 100 dollars in June 2018, you will get a total of 113.153 ZRX.
With some analysts predicting a tenfold increase over the next 5 year periods, your $100 may be worth $1000+ by 2023.
How is 0x (ZRX) different from other cryptos?
The vast majority of coins in the market today are almost identical. They are typically clones of BTC or ETH tokens. Some, of course, have novel ideas but most are just a slightly tweaked version of other coins.
In fact, many of them are coins that are just value-coins not performing any unique function. They don’t offer anything but stored value and the ability to use them as a currency. The most popular ones would be coins like BTC, LTC and NANO.
0x stands out since it is one of those solving a real problem, and isn’t one that can be replaced by other standards. The real problem here is, of course, centralized exchanges and the risks they bring.
Should you invest in 0x (ZRX)?
There may not be great ROI coming out of ZRX unless the crypto industry itself takes off, or unless there is real world adoption of decentralized exchanges, which are typically harder to use for the masses. On the other hand, ZRX will be one of the most valuable ERC20 tokens on the market if its proposition is adopted.
Centralized crypto exchanges are subject to hackers and mismanagement. They also face difficulty in dealing with a sudden rise in demand and are affected by the governments of the country the company is registered in.
But decentralized crypto exchanges like 0x are backed by strong security. 0x protocol is an open source but according to the official website, “In the case of 0x, there is no rent extraction and no users are given special permissions. 0x protocol is upgradable. Cutting-edge technical capabilities can be integrated into 0x via decentralized governance (see section below), eliminating incentives to fork off of the original protocol and sacrifice the network effects surrounding liquidity that result from the shared protocol and settlement layer.”
According to the CEO, Just 24 hoursand10 minutes into the sale, 100% of the 500M 0x tokens that were set aside for sale had been purchased for a total of $24 million. The 0x team is quite pleased with the wide distribution of ZRX tokens now scattered across greater than 13,000 Ethereum addresses. Source: Coinswitch