- By Pierre-Alexandre
March 23rd, 2019
Ox is an open protocol that focuses on providing a decentralized exchange on the Ethereum blockchain. Its token, ZRX, is an Ethereum token with the purpose of powering the 0x protocol.
The development team believes that there would be thousands of tokens present on the Ethereum network and 0x could serve as a platform that would allow users to exchange those tokens efficiently. In other words, 0x is designed to operate differently compared to the centralized and the decentralized exchanges as it provides the best features from those two.
0x team to focus on scalability
Scalability remains one of the biggest challenges affecting cryptocurrencies and their journey towards massive adoption. This is the reason why the 0x team announced that it would be focusing on scaling the network this year.
In a blog post on March 21, 2019, the development team revealed that it is currently working on scaling its network and that would be its major project for the rest of the year. The organization pointed out that due to lack of scalability on the Ethereum network, users are now paying a lot on transaction fees or waiting for long periods of time to get their transactions approved. These setbacks discourage some developers that are looking to create exciting apps on the network.
The challenges on the Ethereum network has motivated the team at 0x to find solutions and scale the blockchain. They admitted that achieving scalability is very hard especially if you want decentralization, openness, security, and trustlessness. However, with the vast number of bright minds in the community, the 0x team believes it can pull it off.
Instant crypto purchase on Twitter via 0x
Cryptocurrency users can purchase ERC20 tokens via 0x Instant on Twitter. With the help of MetaMask, Twitter users can buy any of the numerous Ethereum-based tokens via 0x, a move that is aimed at boosting the adoption of cryptocurrencies.
The cryptocurrency community accepted this latest development with applause as they believe it is a feature that would make it easier to purchase different tokens instantly without going through some long processes. The 0x Instant platform now has numerous tokens available including DAI, REP, GNT, NMR, and others. The 0x Instant platform makes it possible for developers to offer simple crypto purchasing in any app or website.
The development team is encouraging the crypto community to join them at their upcoming meetup in San Francisco slated to take place on March 28, 2018. The topics of discussion would center on their 2019 roadmap and other updates from the ecosystem.
We are hosting a meetup in San Francisco next Thursday (3/28) at @StarfishSF! Join us to learn about our 2019 roadmap + other 0x ecosystem updates. Space is limited, so please RSVP below if you plan to attend. 👇https://t.co/3wSVIgA5fe— 0x (@0xProject) March 20, 2019
Altcoins are behaving strikingly similarily as they did in April 2018. Many Alts like Enjin and Ravencoin have already popped well over 200%. Altseason is very likely about to take off.— Jeff Kirdeikis [₿] (@JeffKirdeikis) March 23, 2019
Here are four alts from the bunch that definitely look ready to rock:
QSP, ZRX, NANO & AION pic.twitter.com/7cDxsPGMtH
Our Sentscore market sentiment indicator for ZRX is back to the neutral zone