Decentralized exchange protocol
0x is a piece of infrastructure that allows developers to build their own cryptocurrency exchanges and marketplaces on shared contracts and shared architecture. 0x’s primary innovation is that it manages some elements of trades off the blockchain, through “relayers,” which reduces the on-chain cost of doing business. The trades are then settled on the blockchain. 0x hopes to become part of the larger decentralized finance system. Its native governance and staking token is ZRX.
Like most infrastructure companies, 0x is most useful to developers working on elements of games, marketplaces, or new financial products built on blockchains. 0x’s hybrid on-and off-chain model gives it flexibility and can reduce fees. ZRX holders can vote on 0x’s upgrades and changes, and can receive rewards for adding liquidity to the system.