Have you ever wondered what powers the decentralized exchanges that allow you to swap cryptocurrencies seamlessly without relying on traditional intermediaries? Enter the 0x Protocol, also known as the backbone of decentralized finance (DeFi). But what is the 0x protocol? How does it work? Without any further ado, let’s dive into further details about this unique protocol.
What is 0x Protocol (ZRX)?
The 0x protocol is a foundational technology enabling the direct and decentralized exchange of assets built on the Ethereum blockchain.
It is an open-source standard, providing the essential infrastructure for developers seeking to incorporate exchange capabilities into their decentralized finance (DeFi) projects.
Why Was 0x Protocol Created?
The 0x Protocol was created to address the demand for decentralized exchange infrastructure, offering an alternative to centralized exchanges that dominate the cryptocurrency trading industry. Consequently, it exhibits distinct characteristics that set it apart from these centralized counterparts.
Who is Behind 0x Protocol?
0x Lab’s Company team of developers and experts creates and maintains the protocol, ensuring its continued development and improvement.
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How Does 0x Protocol Work?
Below are the ways the 0x Protocol works.
Decentralized Exchange
At its core, the 0x Protocol facilitates decentralized exchanges of Ethereum-based tokens.
Unlike traditional centralized exchanges that rely on a central authority to match and execute trades, 0x operates in a peer-to-peer fashion.
Users can directly trade their tokens without the need for an intermediary.
Smart Contracts
Smart contracts are the backbone of the 0x Protocol. These self-executing contracts automatically enforce the terms of a trade without requiring a middleman. In the context of 0x, intelligent contracts facilitate order creation, validation, and settlement.
Users who want to trade a specific token for another create an order through an intelligent contract.
Liquidity Rewards
Liquidity providers are incentivized to participate in the 0x network by earning rewards. Users can contribute their tokens to liquidity pools, which is essential for ensuring enough assets are available for trading. In return for their contribution, liquidity providers receive rewards through fees from traders who utilize their liquidity pool.
Advantages of Using 0x Protocol
Here are some advantages of 0x Protocol.
Speed and Cost-efficiency
One of the primary benefits of the 0x Protocol is its ability to provide fast and cost-effective asset exchanges.
Since it operates on the Ethereum blockchain, transactions are executed quickly, typically within seconds, and at a fraction of the cost compared to traditional financial intermediaries.
Security
The 0x Protocol is built on the Ethereum blockchain, known for its robust security features. Smart contracts power the protocol, ensuring that trades are executed precisely as intended, without the need for trust in a centralized entity. Users retain control of their assets throughout trading, reducing the risk of hacks or fraud associated with centralized exchanges.
Accessibility
0x Protocol is open-source and permissionless, meaning anyone can access and use it without needing approval or permission from a central authority. This accessibility fosters innovation, allowing developers to build decentralized applications (dApps) and new trading platforms on top of the 0x infrastructure.
Challenges and Concerns
0x also faces several challenges, and some of them are mentioned below.
Scalability
As the number of users and transactions on the Ethereum network increases, it can cause congestion in the ecosystem and also slow the speed of transaction processing. This can impact the efficiency and user experience of decentralized exchanges built on 0x.
Competition
The blockchain and cryptocurrency space is highly competitive, with numerous decentralized exchange protocols and platforms vying for market share. While 0x was an early pioneer in decentralized exchange technology, it faces competition from protocols like Uniswap, SushiSwap, and PancakeSwap, which have gained significant popularity and market adoption.
Regulatory Issues
The regulatory environment surrounding cryptocurrencies and decentralized finance (DeFi) is evolving and can pose regulatory challenges for 0x and its users. Compliance with different regulations can be complex and may require ongoing adjustments to the protocol to ensure it remains compliant.
Comparison With Other Protocols
Uniswap is an AMM-based decentralized exchange protocol, whereas 0x uses a different approach known as an order book model. Uniswap provides a simple and user-friendly interface for swapping tokens, making it popular among casual users.
SushiSwap is another protocol that started as a fork of Uniswap and has similar AMM functionality. SushiSwap introduced “yield farming” and incentivized liquidity migration from Uniswap through rewards in its native token, SUSHI.
On the other hand, PancakeSwap operates on the Binance Smart Chain (BSC) rather than Ethereum, offering lower fees but a different security model than 0x on Ethereum. PancakeSwap, like Uniswap, uses an AMM model, making it similar to Uniswap and distinct from 0x’s order book model.
ZRX Tokens
ZRX is the native utility token of the 0x Protocol and plays a crucial role within the ecosystem. Here are some of the use cases of ZRX token:
Utility and Functionality
ZRX token holders have the power to influence the direction of the 0x Protocol. They can vote on proposals and changes to the protocol’s parameters and upgrades. ZRX tokens can be staked or used as part of liquidity pools on decentralized exchanges built on the 0x Protocol.
ZRX tokens can be used to pay transaction fees on the 0x network. This is especially relevant for traders and users conducting decentralized exchanges powered by 0x.
Tokenomics
ZRX tokens have a capped supply, meaning only a limited number of ZRX tokens exist. ZRX tokens are designed to incentivize active participation in the 0x network. Users can earn rewards, including ZRX tokens, for their contributions to liquidity pools, governance, and other ecosystem activities.
How to Buy ZRX Tokens on Binance
You must follow these steps to buy ZRX Tokens on Binance.
Importance of Buying ZRX on Binance
With the high liquidity and security provided by Binance, it becomes the first choice that comes to any trader’s mind when buying ZRX. Moreover, Binance offers lower transaction fees, ultimately benefiting you when buying ZRX Token.
Account Setup
Without wasting any time, let’s move to the account setup process. Use the link below to register on Binance with the Coin Labs referral code.
Binance will require an email and a solid password to register a user. The password should be firm, including small and upper-case letters that are not easy to guess, making your account more secure. Binance will then send a confirmation link to that same email, so ensure that you have access to the email that you are providing.
Security Measures
After your account has been registered, you will be able to log into your account officially. Although you can access your account, you cannot trade until your KYC ( Know Your Customer) is completed.
Binance will require your national identity card to ensure you are over 18 years old, as Binance does not allow users under eighteen to trade on the platform. You will also be required to give your CNIC Number to Binance. After that, you will also have to take a photo of your card from both the front and back.
This is not the end, they will require a live photo so that they can compare the CNIC and photo to check whether it is the same person or not. Additionally, verification can take a couple of days; however, the time varies from region to region
Once you receive the confirmation email, you’re all set to fund your account and trade on the exchange.
Fund the Account
You can fund your account in one of the following three ways:
- Credit/Debit card
- Bank transfer
- P2P marketplace
Binance enables users to deposit funds with any of the aforementioned options.
If you choose the Credit/Debit option, Binance will ask you to provide the CVC and the card’s expiry. After you have provided these details, the transaction will be fulfilled, and the desired amount of capital will be transferred into your funding account.
For bank transfer, it’s also quite similar, you just have to transfer money from your personal bank account to the Binance account by following the instructions, as they provide specific details.
Lastly, for P2P transactions, you must select a verified seller ready to sell a certain amount of USDT that you want to buy. After you have checked that the person is a verified seller, you can proceed with the payment method.
You will first have to pay in your local currency to that seller, and then he will transfer USDT into your Binance funding account within 10 minutes. If the specific amount of USDT is not transferred within 10 minutes, then you can launch a complaint, which will be resolved by Binance.
If any error occurs during your P2P transaction, you don’t need to worry. Binance freezes the USDT of the seller after the process has been started. So, the chances of scams are pretty low.
Navigation to the Trading Platform
The capital that has been funded into your account is automatically stored in the funding account, and you have to transfer those funds into the desired accounts that you want.
From the funding account, you can transfer it anywhere, for example, in a spot, futures, or options account for trading.
You may now search for a ZRX token on the Binance search bar, and after clicking upon it, you will be redirected to the trading page of ZRX Token, where you can buy and sell the ZRX Token.
Execution of Buy Order
On the trading page, you can execute two types of buy orders: market and limit orders.
You can execute your buy order immediately with a market order, and your buy price will be the market’s best price.
With a limit order, you will be able to execute your order at the desired price that you want. But that order will never be executed if the price does not reach that level.
Transferring to Wallet
After you have purchased the ZRX Token, that token will be visible in your Binance account, and you can transfer it to any secure personal wallet if you want.
Future Prospects
According to many technical analysts and experts, the 0x protocol price is expected to rise over $3 in 2030. This marks positive sentiments for all the investors looking to invest in this project.
Short-term traders willing to hold the tokens till 2025 can also expect positive returns.
Conclusion
In short, the 0x Protocol (ZRX) is a pioneering force in decentralized finance (DeFi), offering a unique approach to decentralized exchanges on the Ethereum blockchain. Its emphasis on open standards, intelligent contracts, and governance has enabled it to make a commendable mark within the crypto ecosystem.
코인연구소는 제로엑스에 대해 객관적인 정보만을 제공합니다.
따라서 제로엑스에 대한 투자 결정 및 그에 따른 손실 책임은 투자자에게 있음을 알립니다.
제로엑스 기본 특징
제로엑스의 기본적인 특징은 다음과 같습니다.
| 가상화폐 특징 | 제로엑스 (ZRX) |
|---|---|
| 발행 회사 혹은 개발자 | Will Warren, Amir Bandeali |
| 법인 관할권 (번호) | San Francisco |
| 종목 코드 | ZRX |
| 기반 플랫폼 | Ethereum |
| 코인 발행 연월 (CMC 등록) | 2024-11-01 |
| 최대 공급량 | 1,000,000,000 ZRX |
제로엑스에 대한 2024년 투자 적합성 판정
코인연구소가 진행한 제로엑스에 대한 투자 적합성 판정 결과는 다음과 같습니다..
| 2023년 투자 적합성 판정 | 현재 상태 |
|---|---|
| 코인 발행사 활성 지수 | 7.4 / 10.0 CAR |
| SNS 활동 및 소통 지수 | 7.5 / 10.0 CR |
| 기술 투명성 지수 | 8.7 / 10.0 TTR |
| 개발 참여 지수 | 9.3 / 10.0 DPR |
| 세계 10대 거래소 중 5곳 이상 상장 여부 | 10곳 상장 |
| 세계 전체 마켓 페어 60종 이상 여부 | 374종 |
| 코인 시가 총액이 7천억원을 넘는지 | 265,438,502달러 (167위) |
상단의 테이블은 제로엑스의 투자 적합성 테스트 결과입니다.
적합성 테스트 항목에 대한 자세한 정보는 코인 평가 페이지에서 확인하실 수 있습니다.
현재 제로엑스 시세
제로엑스의 시세 및 최근 거래량 정보는 다음과 같습니다. (코인마켓캡 2024-11-02 00:35:00 기준)
| 시세 항목 | 제로엑스 시세 및 거래량 |
|---|---|
| 현재 제로엑스 시세 | 0.317달러 |
| 지난 24시간 변동 | -2.44% |
| 지난 일주일 변동 | -9.45% |
| 지난 24시간 거래량 | 22,594,812달러 |
| 지난 24시간 거래량 추이 | 8.40% |
기술 정보 및 SNS 채널
제로엑스의 개발 현황 및 소셜 미디어 정보는 하단 테이블 내의 링크를 통해 확인하실 수 있습니다.
| 소스 종류 | URL |
|---|---|
| 🌎 공식 사이트 | http://0xprotocol.org/ |
| 📖 백서 | https://0xproject.com/pdfs/0x_white_paper.pdf |
| 🛰️ 소스 코드 | https://github.com/0xProject |
| 🐦 트위터 (Twitter) | https://twitter.com/0xproject |
| 🤖 레딧 (Reddit) | https://reddit.com/r/0xProject |
| 🎺 메세지 보드 | https://www.oklink.com/eth/token/0xe41d2489571d322189246dafa5ebde1f4699f498 |
한국 4대 거래소의 제로엑스 상장 정보
2024년 현재 제로엑스의 한국 4대 거래소 상장 현황은 다음과 같습니다.
| 거래소 | 상장 상태 | 거래소 페이지 |
|---|---|---|
| 업비트 (Upbit) | 상장 | https://upbit.com/exchange?code=CRIX.UPBIT.KRW-ZRX |
| 코인원 (Coinone) | 상장 | https://coinone.co.kr/exchange/trade/zrx/krw |
| 코빗 (Korbit) | 비상장 | |
| 빗썸 (Bithumb) | 상장 | https://www.bithumb.com/trade/order/ZRX_KRW |
세계 10대 거래소의 제로엑스 상장 정보
2024년 현재 제로엑스의 세계 10대 거래소 상장 현황은 다음과 같습니다.
| 거래소 | 상장 상태 | 거래소 페이지 |
|---|---|---|
| 바이낸스 (Binance) | 상장 | https://www.binance.com/en/trade/ZRX_BTC |
| 코인베이스 (Coinbase) | 상장 | https://pro.coinbase.com/trade/ZRX-USD |
| 크라켄 (Kraken) | 상장 | https://pro.kraken.com/app/trade/zrx-usd |
| 쿠코인 (KuCoin) | 상장 | https://www.kucoin.com/trade/ZRX-BTC |
| 비트파이넥스 (Bitfinex) | 상장 | https://trading.bitfinex.com/t/ZRX:USD?type=exchange |
| OKX | 상장 | https://www.okx.com/trade-spot/zrx-usdt |
| 후오비 (Huobi) | 상장 | https://www.huobi.com/en-us/trade/zrx_usdt?type=spot |
| 비트스탬프 (Bitstamp) | 상장 | https://www.bitstamp.net/markets/zrx/usd/ |
| 바이비트 (Bybit) | 상장 | https://www.bybit.com/en-US/trade/spot/ZRX/USDT |
| 게이트아이오 (Gate.io) | 상장 | https://www.gate.io/trade/ZRX_USDT |
자주 묻는 질문 (FAQs)
현재 제로엑스의 시세는 얼마인가요?
현재 제로엑스의 시세는 0.317달러입니다. 더 나아가 제로엑스의 시세는 24시간 전 대비 -2.44%의 변동 폭을 보이고 있으며, 일주일 전과는 -9.45%만큼 변동되었습니다.
제로엑스의 상장 현황은 어떤가요?
현재 세계 10대 거래소 중에서는 총 10곳에 상장되어 있는 상태입니다.
현재 제로엑스의 시가 총액은 얼마인가요?
현재 제로엑스의 시가 총액은 265,438,502달러이며, 이는 전세계 코인 중에서 167위에 해당합니다.
제로엑스의 거래량은 얼마나 되나요?
ZRX 코인은 현재 374종의 마켓 페어를 통해 848,396,563개가 유통되고 있습니다. 그 결과, 지난 24시간 동안 22,594,812달러의 ZRX 코인이 시장에서 거래되었습니다.
