{"id":15009,"date":"2020-08-27T13:20:17","date_gmt":"2020-08-27T07:50:17","guid":{"rendered":"https:\/\/zebpay.com\/?p=3466"},"modified":"2020-08-27T13:20:17","modified_gmt":"2020-08-27T07:50:17","slug":"what-is-0x-a-short-guide-to-the-protocol-shaping-the-defi-ecosystem","status":"publish","type":"post","link":"https:\/\/zebpay.com\/in\/blog\/what-is-0x-a-short-guide-to-the-protocol-shaping-the-defi-ecosystem","title":{"rendered":"What is 0x? A short guide to the protocol shaping the DeFi ecosystem"},"content":{"rendered":"\n<p id=\"745b\">ZRX trading is now live on ZebPay!&nbsp;<a href=\"https:\/\/web.zebpay.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Login now<\/a>&nbsp;to get started trading.<\/p>\n\n\n\n<p id=\"4ebc\">If you\u2019re even slightly active on Crypto Twitter, you know there\u2019s one word that\u2019s being thrown around a lot these days: DeFi, short for decentralised finance. It\u2019s been hailed as the next big thing in cryptocurrency, and with good reason \u2014 it promises to decentralise access to financial systems, wresting control of them from authorities like governments, banks and large corporations.<\/p>\n\n\n\n<p id=\"19ac\">The 0x (pronounced \u2018zero x\u2019) protocol token is playing a big role in the DeFi mission. It\u2019s an open protocol that enables the peer-to-peer exchange of assets on the Ethereum blockchain. Matt Taylor, Marketing Lead for 0x described it as \u201ca pipeline of open-source smart contracts that serve as foundational exchange infrastructure and the networked liquidity layer for several crypto verticals including DeFi and blockchain gaming\u201d.<\/p>\n\n\n\n<p id=\"b9d6\">What this means is that 0x is laying down the groundwork for a range of DeFi projects (lending services, for example). These projects are benefitting from 0x\u2019s networked liquidity pool, which according to Taylor, has the lowest slippage on the most popular trading pairs in the DeFi space, including ETH\/DAI.<\/p>\n\n\n\n<p id=\"11af\">0x has also\u00a0<a href=\"https:\/\/venturebeat.com\/2018\/09\/24\/0x-leads-the-way-for-tokenization-of-the-world-and-collectible-game-items-are-next\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">led the way<\/a>\u00a0in incorporating blockchain technology into video games. Currently, it helps facilitate the exchange of one of the largest crypto games, Gods Unchained.<\/p>\n\n\n\n<p id=\"85ed\">How the <a href=\"https:\/\/zebpay.com\/in\/buy-zrx\/\" target=\"_blank\" rel=\"noreferrer noopener\">0x token<\/a> works is actually a combination of centralised and decentralized exchanges. It draws from the best of both worlds: it cuts out third parties through smart contracts which ensure users are in control of their funds, yet maintains the lower costs associated with running centralised exchanges through something called off-chain relays.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"What is 0x?\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/c04eIt3FQ5I?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p id=\"188d\">With decentralised exchanges, transactions are executed on the main chain from start to finish. This doesn\u2019t come cheap; users have to pay fees in Ethereum to ensure that these transactions are processed on the blockchain by its miners. Off-chain relays are used so that the trading and exchange of assets can happen off the blockchain, with the main chain coming into the picture only for the actual value transfer.<\/p>\n\n\n\n<p id=\"494c\"><a href=\"https:\/\/zebpay.com\/in\/buy-zrx\/\" target=\"_blank\" rel=\"noreferrer noopener\">0x tokens<\/a> (ZRX) are used to pay the relayers. They can also be used to vote on 0x protocol improvements. 0x also recently launched Matcha, its own decentralised exchange, which offers secure wallet-to-wallet transactions with no deposits and withdrawals.<\/p>\n\n\n\n<p id=\"0312\">0x\u2019s mission is to \u2018create a tokenized world where all value can flow freely\u2019. ZebPay is proud to bring it to India.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ZRX trading is now live on ZebPay! Login now to get started trading, or read on to find out more about the 0x protocol.<\/p>\n","protected":false},"author":1,"featured_media":4436,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[14],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/15009"}],"collection":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/comments?post=15009"}],"version-history":[{"count":0,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/15009\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/media\/4436"}],"wp:attachment":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/media?parent=15009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/categories?post=15009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/tags?post=15009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}