An open protocol for decentralized exchange on the Ethereum blockchain
IF YOU’RE SOMEONE who has purchased Bitcoin or Ethereum on Coinbase, then you understand that you’re trading with a trusted, centralized, third party. It’s a delicious irony – in order to buy into this new world of decentralized currencies, you have to do business with a centralized exchange.
The 0x Project solves this problem by getting rid of the middle men with a decentralized exchange. It’s likely that a few years from now, centralized exchanges may cease to exist. Decentralization eliminates a central party that is susceptible to hacks, or could conceivably deny you access to your own funds because of government regulation. Instead, this new network will come with a borderless global order book.
In-built financial incentives need to exist for everyone who uses and manages the system, so ZRX is the token required to build a network without central authority. The project was founded by Will Warren, who studied mechanical engineering at the University of San Diego and did postgraduate research at Los Alamos National Laboratory.
One thing that signals the legitimacy of this team, which is spread across the world but headquartered in San Francisco, is that they completed building the core protocol before launching a token sale. Much of the criticism of ICOs is caused by projects raising capital on the back of just an idea, resulting in the wrong incentives for project development
Circulating Supply: 534,870,201 ZRX