Overview of 0x

  • 0x addresses these issues by offering a flexible DEX architecture, comprehensive developer documentation and tools, an easy to integrate 0x API, and networked crypto liquidity pools (both from native 0x sources, as well as from other exchange networks) accessible via 0x Mesh, a fully decentralized P2P global order book that functions independently from the Ethereum blockchain.
  • 0x offers secure, audited smart contracts; developer tools tailored to the 0x ecosystem; a decentralized global P2P order book (0x Mesh); and an API that provides easy access to aggregated liquidity sourced from a growing number of exchange networks
  • 0x achieves this decentralized exchange functionality using a collection of open-source, publicly auditable smart contracts that work together to produce a flexible, low-friction trading protocol that developers can easily weave into their products.
  • 0x protocol is an open and community-oriented product that has contributed to Ethereum’s rapidly growing DeFi ecosystem, and pioneered new business models that prioritize community usage over short-term profits.
  • 0x was founded in October 2016 with the goal of providing a trustless exchange mechanism for the thousands of crypto-native tokens and other tokenized assets including fiat currencies, stocks, gold, and more.
  • 0x.tools are designed to be safely used in production, including traditional enterprise environments where you can’t just upgrade to latest OS version at will or load custom kernel modules.
  • 0xRacers is a multiplayer open-economy racing game in which players own cars, tune them up with unique assets for better performance and join epic events.
  • 0x.tools allow you to measure individual thread level activity, like thread sleep states, currently executing system calls and kernel wait locations.
  • 0x.tools require Linux kernel version 2.6 or later, so they will work even on your legacy installations (like RHEL 5, CentOS 5) from 15 years ago.
  • 0x completed a token sale in August of 2017, raising $24 million in Ether (ETH) in less than 24 hours at a base price of $0.048 per ZRX.
  • Blockchain

    Once someone finds and wishes to fill the 0x order created by the maker, they can fill it by submitting the order, along with the amount they want to fill it for, to the blockchain.The 0x protocol's settlement logic will verify the maker's digital signature and that all the conditions of the trade are satisfied.Once satisfied, the tokens are atomically swapped between the maker and taker directly into their wallets.


    The 0x core team is distributed across the world with backgrounds in engineering, academic research, business, and design.The team is led by co-founder & CEO Will Warren and CTO Amir Bandeali.In addition to their diverse core team, the 0x team is accompanied by prominent advisors including Fred Ehrsam from Paradigm, Olaf Carlson-Wee from Polychain Capital, Joe Krug from Pantera Capital and Linda Xie from Scalar Capital.


    To give your readers a sense of our progress so far, over a billion dollars in trades have flowed through the 0x protocol, 100+ projects have utilized 0x to enable p2p exchange functionality in their apps, and 0x’s networked liquidity pool often has the lowest slippage on the most popular trading pairs in the DeFi space, including ETH/DAI, ETH/USDC, DAI/USDC, and more.


    And third, we provide essential legal resources to projects as part of our Ecosystem Acceleration Program.We recognize the difficulty for independent teams trying to build businesses on 0x in light of the current regulatory landscape, so we give legal support where we can.In general, 0x is open-source so anyone can build on our technology, and we cannot control if someone makes a product that does not comply with existing regulations.Having said that, we are working to ensure that 0x and projects in our ecosystem will continue the operate legally within their jurisdictions.We look forward to educating regulators around the world on decentralized exchange and the innovative services developing in the DeFi space.


    On the 0x protocol, liquidity takers pay a fee in the form of ZRX tokens — this fee is used to incentivize market maker (relayer) liquidity.Users also need to pay a protocol fee in the form of Ether (ETH), which is used to pay for the gas used in any transactions they complete.As an open-source protocol, 0x does not receive any share of this revenue, and is instead supported by ZRX tokens unlocked as team and developer incentives — along with its initial ICO funding.


    Via the 0x hybridized model, off-chain state channels are employed for conducting orders and transactions to increase speeds; only orders that have been settled are recorded on the blockchain.

    Did you know?

    90% of the top 100 tokens by market cap are built on Ethereum.

    Hello! What’s your background, and what are you working on?

    Hey DeFi Prime, thanks for reaching out! My name is Matt Taylor, and I’m currently the Marketing Lead for 0x, a decentralized exchange protocol that many crypto projects use to facilitate the p2p exchange of Ethereum-based assets.I joined the 0x Core Team about a year ago, and I’m responsible for our external communications, marketing strategy, product marketing, etc.Before 0x, I worked for Abra and Square.I’ve been pretty obsessed with cryptocurrency for a while and went down the rabbit hole when writing my undergraduate thesis on the economic incentives in Bitcoin’s proof-of-work consensus mechanism.

    How does 0x protocol work?

    Following that same logic, the rapid tokenization is bound to create an abundance of tokens that are difficult to spend or exchange – and that’s where the 0x project comes in.

    How does it work?

    Orders are broadcast off-chain.This means they are cryptographically signed but not uploaded to the blockchain.It then uses a system of relayers which match up orders.

    How Does it Work?

    At its core, 0x is a messaging standard paired with a suite of smart contracts.The protocol enables market makers to send messages off-chain with the order details (which token pair, the price, and expiration date).

    How is Ox different from a regular trading model?

    Most cryptocurrency exchanges follow the established centralized trading model.In this paradigm, they are gatekeepers providing the infrastructure and acting as connecting agents to clear and facilitate trade between parties.North America’s largest cryptocurrency exchange, Coinbase, is the best example of this approach.This model requires customers to trust their funds with exchanges.While the model has worked for equity markets, an increasing number of hacks at exchanges has put its future in cryptocurrency markets under a cloud.Decentralized trading seeks to address that.

    How Is the 0x Network Secured?

    0x is built on top of the Ethereum blockchain.As a result, it is protected against attacks by the combined efforts of the massive Ethereum miner and node network.

    How Many 0x (ZRX) Coins Are There in Circulation?

    Like many digital assets, the ZRX token has a fixed maximum supply that will never be exceeded.This is set to 1 billion ZRX.Right now, around three quarters of this maximum supply is already in circulation, and just a small fraction of this is locked up for staking rewards.

    How to Get Involved?

    If you’re looking to learn more about 0x and its permissionless liquidity protocol, you can visit the official website here.

    Is it safe to use in production?

    0x.tools are designed to be safely used in production, including traditional enterprise environments where you can’t just upgrade to latest OS version at will or load custom kernel modules.All the code is open source, without any dependencies outside the standard Linux utilities and libraries, skimming through a few hundred lines of 0x.tools C and Python code should be doable in matter of minutes.

    Should you care about C++11?

    Most definitely.C++11 adds many new language features to C++.C++11 should
    fix many annoyances and reduce the overall verbosity of C++ as well as provide
    new tools, such as lambda expressions, that increase its overall expressiveness
    and clarity.Fetaures like move semantics improve the basic efficiency
    of the language, allowing you to write faster code, and the improvements to the
    template system make it much easier to write generic code.

    What are districts?

    Districts are marketplaces and communities that exist as decentralized autonomous organizations on the district0x Network.All internet citizens will be able to deploy districts to the network free of charge, forever.

    What are the benefits of decentralized cryptocurrency exchanges?

    Decentralized cryptocurrency exchanges have no third parties and better security.

    What are the drawbacks of decentralized cryptocurrency exchanges?

    The disadvantages include slower executions on transactions and lower liquidity levels.

    What are your future thoughts for the DeFi market?

    DeFi has started to take off in the past six months or so, especially in the lending/borrowing market.We’ve seen several businesses, including 0x integrators like dYdX and Radar Relay, gain significant traction.One aspect of DeFi we are excited about is what we are calling contract-fillable liquidity, as mentioned above.

    What are your goals for the future?

    The 0x Core Team is working on a variety of roadmap objectives for the rest of 2019.We feel all these initiatives will significantly benefit the DeFi ecosystem and help push it forward towards mainstream adoption.First, as mentioned above, we are working on our ZRX token economics proposal that will be voted on later this year with the 0x v3.0 upgrade.We hope this provides clarity around the purpose of ZRX and how it drives governance and community-ownership in the protocol in the long run.

    What can you do with it?

    While 0x has built an exchange, the technology it is built on allows a number of other features to use the network, too.

    What Is 0x (ZRX) and How Does It Work?

    0x is a protocol that facilitates the peer-to-peer (P2P) exchange of Ethereum-based assets.Built by 0x Labs, the protocol serves as an open standard and core DeFi building block for any developer needing exchange functionality.

    What Is 0x (ZRX)?

    0x is an infrastructure protocol that allows users to easily trade ERC20 tokens and other assets on the Ethereum blockchain without relying on centralized intermediaries like traditional cryptocurrency exchanges.

    What is 0x protocol?

    0x protocol (pronounced “zero-ex”) is a decentralized, permissionless exchange protocol that allows ERC20 tokens to be traded on the Ethereum blockchain.Developers can also use the 0x protocol as a platform to build their own decentralized exchange applications for Ethereum-based assets.

    What Is 0x?

    As its website conveys, “0x is an open protocol that enables the peer-to-peer exchange of assets on the Ethereum blockchain” and used to power decentralized exchanges (DEXs).

    What is 0x?

    0x is a blockchain protocol designed to facilitate digital asset trades in a decentralized manner.It uses the Ethereum blockchain.0x and offers a solution to the drawbacks of cryptocurrency exchanges through an “off-chain order relay with on-chain settlement”.Its ZRX token is widely-traded and was recently listed on Coinbase.

    What is 0x?

    0x is an open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain.

    What is 0x?

    0x is a foundation for building decentralized exchanges on top of Ethereum.

    What is 0xUniverse?

    0xUniverse is the next generation blockchain game where players can build spaceships, explore the galaxy, and colonize planets.The discoverers will extract resources and carry out research that allows them to conquer the remotest corners of the galaxy.In addition, players can jointly contribute to the story and unravel the mystery of the universe.

    What is C++0x?

    C++0x was the working name for the new standard for C++, adding many
    language features that I’ll cover in this series on C++11.In September
    2011, C++0x was officially published as the new C++11 standard, and many
    compilers now provide support for some of the core C++11 features.

    What is its purpose?

    There are a large number of tokens built on the Ethereum platform.The majority of them conform to the ERC-20 standard.Yet many of them are not widely available in large quantities, when measured in fiat value.This means they are not liquid, a financial term referring to how much of a unit of value or currency is bought and sold.

    What is the measurement overhead?

    0x.tools xcapture is designed to have very low overhead, well under 1% of your server’s CPU capacity, even when sampling every second.Note that xcapture does not invoke any tracing, but samples already built-in kernel instrumentation from /proc file system asynchronously and independently.Therefore it won’t slow any of your existing applications down, but uses a small percentage of one CPU in the system for its sampling.In extreme cases (with tens of thousands of active threads), you can reduce sampling frequency to reduce xcapture CPU usage.

    What Makes 0x Unique?

    Unlike many other Ethereum decentralized exchange protocols, 0x supports both fungible (ERC20) and non-fungible (ERC-723) tokens.This means it can be used for the permissionless trading of a wide range of assets, giving holders a way to buy, sell and exchange the vast majority of Ethereum assets through more than a dozen different apps.

    What Should We Build Next?

    We encourage and incentivize the submission of marketplace ideas via an open community proposal process.The district0x Network Token allows holders to signal for what markets they would like to see the district0x team build and deploy to the network next.

    What went into building 0x?

    When Will and Amir started building 0x, they evaluated many different models of decentralized exchange, including automated market makers (as implemented by Uniswap and Bancor), on-chain orderbooks, and state channel-based approaches.They found that the current orderbook model, which combines off-chain relay of orders and on-chain settlement, would offer the highest flexibility by combining the best parts of some of these different models.The chosen model was highly efficient and also allowed many different modes of exchange to be utilized within the protocol, including open orderbooks, matching systems, and contract-fillable liquidity (CFL).I’ll discuss these forms of exchange in detail in the sections below.

    What’s 0x’s backstory?

    Our co-founders Will Warren and Amir Bandealli started working on 0x in 2016.They initially attempted to build a tokenized derivatives exchange, but quickly realized they needed to create a protocol that enabled these tokenized positions to be traded peer-to-peer.From there, they found that many of the projects in the space needed a standard set of smart contracts that coordinated and executed the exchange of tokens for their products to function properly.They also foresaw that all forms of value were going to be tokenized and traded on public blockchains.I think we’ve seen this vision playing out with the explosion of new tokens being minted on Ethereum; NFTs for games, tokenized derivatives, prediction market shares, security tokens, tokenized digital art, etc.From there, they started building 0x with themission of creating a tokenized world where all value can flow freely.

    What’s next?

    There are a lot of new features and utilities that can be added to 0xTools suite.Before I go there, I will work on some packaging & productionization things first (scripts for automatic compression & archiving of the captured files, installation via a RPM/DEB package, built-in data visualization).Feel free to submit ideas and issues in the 0x.Tools GitHub repo.

    What’s your business model?

    0x does not have a business model in the traditional sense.We view 0x as public infrastructure that anyone in the world can plug into.In order for 0x to be sustainable long-term and owned by its community of stakeholders, ZRX is needed to coordinate upgrades and eventually route protocol fees to liquidity providers via a token holder-controlled treasury.

    What’s your position on the regulatory landscape today?

    The current landscape consists of legacy financial regulations that don’t easily map onto what we (and the rest of DeFi) are trying to build.However, we are working on several fronts to make sure 0x complies with existing laws and create legal resources for the ecosystem of businesses built on the protocol.First, we have an in-house legal team consisting of Jason Somensatto and Rui Zhang that help the 0x Core Team navigate the regulatory landscape.

    Where can we go to learn more?

    We try to distribute info about 0x where ever the crypto community hangs out.However, we use Twitter and our blog as our primary communication channels.

    Where Can You Buy 0x (ZRX)?

    ZRX is currently available to trade on well over 200 different exchange platforms, but the most popular ones include Coinbase Pro, Binance and BitMax.It can currently be traded against a range of other cryptocurrencies, including Bitcoin (BTC), Tether (USDT) and Ethereum (ETH), as well as several fiat currencies, including U.S.dollars (USD), euros (EUR) and South Korean won (KRW).

    Who Are the Founders of 0x?

    0x was founded in 2016 by Will Warren and Amir Bandeali.The two co-founders continue to serve the platform, with Will Warren as 0x's CEO, whereas Amir Bandeali is CTO.

    Who created it?

    0x was founded in 2016.It is funded by Fintech Blockchain Group, Pantera, Polychain Capital, Jen Advisors, and Blockchain Capital.

    Who is your target market?

    Generally, 0x’s target market is anyone that wants to exchange digital assets directly, without any entity in the middle.This is an extensive set of potential users, so we find it helpful to segment the market.0x is unique in that there are a variety of protocol stakeholders we are attracting.We bucket them into several groups: makers, takers, relayers, and ZRX token holders.There is obviously a lot of overlap between these participants, but I can briefly discuss how we are working to grow each segment.

    Why are hexadecimal numbers prefixed with 0x?

    Why are hexadecimal numbers prefixed as 0x?
    I understand the usage of the prefix but I don’t understand the significance of why 0x was chosen.

    Why not just use BPF instead of /proc sampling?

    In short, eBPF is not available for wide-scale production use in traditional enterprises (think banks, telcos and other Fortune 500s with decades of IT history).This may come as a surprise if you’ve worked only for startups running latest ephemeral Ubuntu containers in the cloud 🙂 For example RedHat started actually supporting eBPF in RHEL 8.1 (Released Nov 2019).The enterprises I work with, still have RHEL6 (kernel 2.6.32) as their mostly widely used OS version, with RHEL7 (and CentOS 7) gaining traction.So “let’s just do a major OS upgrade” for troubleshooting this performance spike is out of the question.

    Why not just use distributed tracing like OpenTracing, Zipkin, Jaeger?

    These powerful, but complex frameworks are high level end-to-end tracers of request flow through application layers and components.They are designed to point out in which component of your distributed multi-tier system most of the user response was spent, but they do not drill down into the reason why.0x.tools are designed to fill that gap.

    Why not just use perf for everything (including xcapture)?

    Perf sampling captures only on-CPU activity by default.If you have 32 CPUs, it will check what code is running on them at every sample, but does not aim to walk through the hundreds (or thousands) of OS threads that happen to be sleeping.While it is possible to enable tracing for off-cpu events in Perf, it comes with a high tracing overhead (and later, overhead of post-processing these high-frequency events).

    Why not just use something like Prometheus?

    Prometheus is designed for shipping, storing and serving system & appliction time-series metrics captured from a large fleet of servers & applications.You can plot nice dashboards with charts showing various latency, request count and system utilization metrics over time.Such time-series metrics are useful background info, but do not allow you to drill down into the low level reasons of increased system activity, application resource usage or misbehavior of the OS kernel itself.

    History of 0x

  • In 2017, it experienced a slow and steady climb to around 30$USD, moving sideways until the famous crypto bull run of 2017/2018, where it reached its all time high of just under 100$USD, an impressive 100x increase from its “ICO” price of 95 cents USD.
  • In 2017, they conducted a ZRX token sale that emphasized distribution, with an individual purchase cap per user.
  • In 2018 Coinbase launched their independent mobile wallet for iOS and Android investor protection in your or.
  • In 2018 Coinbase launched their independent mobile wallet for iOS and Android.
  • In 2019, 0x announced an overhaul of the ZRX token, adding extra functionality, allowing ZRX holders to delegate their stake to a market maker to earn passive rewards while retaining their voting capacity.
  • In 2019, 0X Improvement Protocols (ZEIPs) were introduced to even further streamline consensus.
  • In 2019, 0x revamped its token economics to encourage more ownership of the protocol among market makers by introducing a financial incentive tied to the amount of liquidity a market maker injects into the ecosystem.
  • In 2020 they launched an investment platform where companies can fundraise and where retail investors from all over the globe have access to great investment opportunities.