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¿Qué es 0x? (ZRX)

The Beginner’s Guide


0x es un software que tiene como objetivo incentivar una red de usuarios para crear y operar nuevos tipos de mercados que no dependen de los intermediarios financieros tradicionales. 

Con 0x, los usuarios pueden crear mercados para cripto activos que representen cualquier forma de valor; estos podrían incluir mercados para tokens que representen bienes inmuebles físicos, para tokens que representan acciones, bonos y otros activos criptográficos.

Como uno de los grupos emergentes de protocolos de finanzas descentralizadas (DeFi), 0x usa un activo criptográfico personalizado, llamado ZRX, y la blockchain de Ethereum para distribuir su administración y operación. 

ZRX se utiliza para incentivar a los usuarios a alojar y mantener libros de órdenes para los mercados 0x. A cambio de este servicio esencial, los usuarios de 0x obtienen exposición a las tarifas que se pagan cuando los comerciantes compran y venden activos en la plataforma, y ​​pueden obtener recompensas adicionales denominadas en ZRX.

De esta manera, ZRX es esencial para el sistema de gobierno del protocolo, ya que quienes poseen el activo tienen la capacidad de votar sobre los cambios en el software. (Por ejemplo, los poseedores de tokens pueden votar para aumentar o disminuir las tarifas que los usuarios pagan y ganan).

Si desea mantenerse al día con el proyecto, 0x mantiene a los usuarios actualizados sobre el estado de su hoja de ruta a través de su website oficial y su blog.


Who Created 0x?

El protocolo 0x es un producto de una empresa llamada ZeroEx Inc, cofundada en 2016 por Will Warren y Amir Bandeali. 

En julio de 2017, ZeroEx Inc realizó una venta pública en la que recaudó $24 millones en ether a cambio de tokens ZRX. El apoyo para el proyecto provino de firmas de riesgo, incluidas Polychain Capital, Blockchain Capital y Pantera Capital, entre otras.

Los asesores de la empresa incluyen al cofundador de Coinbase, Fred Ehrsam, al cofundador de Augur, Joey Krug, y a la cofundadora de Scalar Capital, Linda Xie.

How Does 0x Work?


0x is a software that allows users to create custom crypto asset markets. 

Using the 0x protocol, users can both tokenize assets and buy and sell tokens running on the Ethereum blockchain.

Two types of users are needed to operate any 0x market:

  • Makers – Those providing liquidity to the order book. Makers place orders on the exchange that do not trade immediately; rather, they wait for it to be matched. 
  • Takers – Those who take liquidity from the order book. Takers place orders that are instantly matched with existing orders.

 

The 0x order book is maintained by the protocol’s relayers. Relayers are tasked with facilitating communication between 0x order books and the transactions that settle on a blockchain. 

When a user makes a trade, makers submit cryptographically signed orders to a relayer who then posts it to the order book for a transaction fee. These orders can contain the token being traded, desired price and expiration date.

Once an order is ready to be executed, 0x uses smart contracts running on Ethereum to match a taker’s demand with a maker’s orders, transferring the tokens between users.

Of note is that relayers do not take custody of the assets in any trade, as transactions happen on the blockchain. 
 


Why does ZRX have value?

The ZRX cryptocurrency derives value from the role it plays in operating markets on the 0x protocol, rewarding relayers for hosting order books and facilitating trades. 

In addition, ZRX is also used as a way to allow users to govern the software and set its rules. 

For example, users can stake ZRX to gain the ability to vote on network upgrades and policies, with each vote being proportional to the amount of tokens they stake. 

Users can also delegate their tokens to other validators, allocating votes to them while still earning a portion of the block reward. 

Lastly, there is a finite supply of ZRX that can facilitate 0x markets. 

As of 2020, only 1 billion ZRX tokens are scheduled to be created. This provides a certain scarcity to ZRX tokens, which could help their value increase over time.

Importantly, 0x is not the only cryptocurrency project seeking to leverage blockchains to create new kinds of markets. Other decentralized exchange platforms include Kyber Network, Uniswap and Bancor, each of which has varying technical capabilities. 


Why use ZRX?

Users may find the 0x protocol appealing based on its mission to provide an alternative to more traditional centralized exchange platforms. 

To date, there are a variety of wallets that have already integrated 0x to allow users to trade cryptocurrencies within their ecosystem. 

Investors may also seek to buy ZRX and add it to their portfolio should they believe in the future role of decentralized exchanges for exposure to a wide range of crypto assets.

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