Hi guys,
This is CG and today I am going to talk to you about 0X protocol.
So what is this 0x protocol? it is an open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain.
One of its great features is that the orders are moved off-chain, eliminating the blockchain bloat and reducing gas cost.
The platform allows open relay building. Let’s have a look on some of the existing relayers, using 0x protocol https://0xproject.com/wiki#List-of-Projects-Using-0x-Protocol
I know of a few of them such as Augur, Aragon , The Ocean and Blocknet.
The 0x Protocol has the following components:
- Makers are those who initiate orders.
- Takers are counterparties who fill orders.
- Relayers are parties who host order books and match makers and takers.
- The 0x Smart Contracts are the Ethereum accounts that execute orders in a trust-less way on the blockchain.
Watch the video below to find out more and let me know your thoughts on it.