Technically put, we can see that 0x (ZRX) is a permissionless protocol that provides developers with a foundation using which they can create their very own DEXs (decentralized exchanges). Not only that, from a purely operational standpoint, 0x makes use of off-chain transaction relayers and Ethereum smart contracts to eliminate many of the issues plaguing this niche market space.
The ZRX token essentially serves as the fundamental payment unit that drives the 0X protocol. Additionally, it is also used for governance related purposes (especially when network upgrades need to be implemented). Looking ahead at the currency’s financial potential for the year 2020, many experts are hopeful that the token will perform quite well this year.
- All-time High Value: $2.47
- Market Debut: August 2017
- 2019 High: $0.379
- 2019 Low: $0.15