0x was launched in 2017 by 0x Labs with the aim to “create a tokenized world where all value can freely flow”. The mission of the network is to tokenize all kinds of assets on public blockchains and the facilitate the flow of digital assets. 0x plans to design a financial ecosystem that is efficient, transparent and decentralized by employing the blockchain technology. 0x essentially provides the infrastructure which can be modified and utilized to build various different offerings.
What is 0x?
0x is essentially a decentralized exchange designed specifically for tokens based on ERC 20 tokens. The platform connects buyers and sellers of ERC 20 tokens. Being a decentralized exchange, it eliminates the need of middlemen that are employed by centralized exchange to facilitate the transfer of assets. Decentralized exchanges utilize the smart contract technology to ensure security in the platform.
Decentralized exchanges also face issues like the lack of liquidity and concerns regarding usage but 0x solves all of the major problems of DEXs through its innovative technology. 0x offers a flexible DEX architecture, comprehensive documentations for developers, networked cryptocurrency liquidity pools and easily integrated API.
0x has many more unique features that set it apart from the crowd. It has a flexible off-chain relay and on-chain settlement architecture. Usually, DEXs operate solely on chain but 0x does not store its order book on the blockchain; hence the off-chain relay. Only the trade settlements occur on-chain. This makes 0x an affordable DEX.
ZRK is the native token of 0x used for staking and governance. By holding ZRK tokens, users can participate in the development of the platform as well as earn staking rewards in ETH by holding the cryptocurrency.
What is the future of ZRK?
Although the cryptocurrency showed phenomenal performance during the bull run of 2021, it was not able to break its all-time high of $2.53 – established during the bull run of 2018. ZRK did skirt close to its ATH during the peak of the 2021 bull and recorded a 52-week high of $2.40. At the time of writing, the cryptocurrency stands at a price level of $1.01. The price of 0x token has declined by 3% in the daily timeframe.
The future projections for the cryptocurrency are bullish. According to the estimates of Wallet Investor, the cryptocurrency will be trading hands at $1.61 in one year’s time while the five-year projection places it at $4.10. Digital Coin Price estimates a similar trajectory for ZRK. Per their estimates the cryptocurrency will end the year with a price level of $1.57 and reach towards $3.45 by 2026.