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What is 0x (ZRX) and how does it work?

0x (pronounce zero-x) is an open protocol Ethereum token created to drive decentralized exchange. This protocol involves smart contracts from ETH making possible to exchange the ERC20 tokens in the Ethereum blockchain. This feature is considered its greatest advantage since the team of this project believes that in the future there will be many ETH tokens and the 0x will facilitate efficient exchange.

Co-founders Will Warren (CEO) and Amir Bandeali (CTO) launched the ZRX in August 2017 and the total amount of one billion ZRX was created. Smart contracts, already mentioned above, are open source, which allows developers to access and use it for the creation of new applications, providing the exchange for their platform / token. In this case, the protocol complements other dApps (decentralized applications) based on Ethereum.

The use of ZRX is even wider. The relayers receive a payment for their services in the form of ZRX. So we can say that users pay with token for commercial rates. The relayers do negotiation through offering sent orders to the network but they can never carry out a transaction. Its function is to distribute orders through order books and thus bring the capital to the network.

To store your ZRX you can use any wallet compatible with Ethereum. Take a look at this article where we recommend the most recognized wallets of this cryptocurrency.

To track any Wallet or transaction made with ZRX you just have to access this website, it is a browser that gives you the available information of the transactions.

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