KuCoin Exchange has been reputed in exploring for promising blockchain based projects for the progress of the world. Since its launching, it already has demonstrated its reliability regarding technology and customer service.
Today, KuCoin is delighted announcing that they have once again listed another promising decentralized platform called 0x Protocol (ZRX).
0x Protocol (ZRX) is now accessible for deposit with trading pairs involving ZRX/BTC and ZRX/ETH. Other transactions such as buying will commence at 19:30 UTC+8 and selling/withdrawal at 20:00 UTC+8.
All trading processes are executed on KuCoin’s Android and iOS app, or to their official website at www.kucoin.com.
About 0x Protocol (ZRX)
0x is a protocol that promotes low friction peer-to-peer exchange of ERC20 tokens on the Ethereum blockchain. The protocol is designed to serve as an open standard and basic building block, running interoperability among decentralized applications (DApps) that include exchange functionality. Trades are administered by a system of Ethereum smart contracts that are publicly available, free to apply and that any DApp can hook into.
DApps developed on top of the protocol can access public liquidity pools or build their own liquidity pool and charge transaction fees on the resulting volume. The protocol is unopinionated: it does not require costs on its users or arbitrarily extracts value from one group of users to beneﬁt another. Decentralized governance is utilized to continuously and securely integrate updates into the base protocol without disrupting DApps or end users.
Each order is a data packet including order parameters and an associated signature. Order parameters are concatenated and hashed to 32 bytes via the Keccak SHA3 function. The order originator means the ordered hash with their private key to produce an ECDSA signature.
The ZRX Token
These ERC20 tokens are digital tokens built on the Ethereum blockchain and are issued by cryptocurrency projects which have launched their initial coin offering. The 0x coin is an ERC20 token, and over 500 different cryptocurrencies have issued this class of token. Essentially, ERC20 tokens are Ethereum’s solution for making a cryptocurrency quickly and easily.
With all these different digital assets built on Ethereum, it is very difficult for these various assets to communicate with each other. Put just, 0x is trying to make it very easy to swap one Ethereum based digital asset for another. For example, swapping ZRX coin for Ethereum.
Now you know what 0x does; now you need to know what it is. Well, it’s what’s known as an ‘open public infrastructure.’ This just means that 0x create the blueprint or method of exchanging one Ethereum based asset for another. It’s essential to know that 0x is not an application. Instead, the 0x methodology is used by different apps and platforms that want the ability to swap different Ethereum based assets. An example of a platform that might wish to the 0x solution is a cryptocurrency exchange.