0x (ZRX) has sustained some solid ground over the last few days and is currently trading up 4%.

0x (ZRX) proposed whitepaper published on February 21st, 2017 outlines the specifications for a decentralized cryptoasset exchange built on the Ethereum blockchain.

The whitepaper‘s abstract notes that the 0x (ZRX) protocol aims to “facilitate low friction peer-to-peer (P2P) exchange” of ERC-20 compliant tokens on the Ethereum network.

0x protocol serves as an open standard … driving interoperability among decentralized applications (dApps) that incorporate exchange functionality. Trades are executed by a system of Ethereum smart contracts that are publicly accessible, free to use and that any dApp can hook into.”

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The 0x network uses relayers, which are exchanges that run on the platform and broadcast order books off-chain. These orders are then picked up by the network’s users and once a transaction has been confirmed (buyer fills sell order), then the finalized transaction is recorded on 0x’s blockchain.

There are currently more than 30 different dApps and relayers that have been launched on the 0x platform. These include:

  • Aragon, an Ethereum-based project for “building unstoppable organizations”;
  • Augur, the decentralized prediction markets platform;
  • dy/dx, a protocol for decentralized margin trading and derivatives;
  • Dharma, a platform for issuing tokenized debt agreements.

Some notable relayers that are using the 0x protocol:

  • Ethfinex, a “digital tokens trading and discussing” network;
  • Paradex, a non-custodial decentralized trading platform;
  • OpenRelay, a relayer built specifically for 0x developers.

All said, ZRX is a very experimental technology and might not hold this current price-point, and as the new coin is the cheapest on Coinbase, people might go bonkers. So, buyer beware.