Introduction
The cryptocurrency world has for long been conflicting itself due to its idea of decentralized asset traded on centralized platforms. When 0x came on board, a new era of decentralized exchanges began to surface. Such decentralized exchanges resolves some of the current challenges with the older decentralized exchanges and yet it is not as effective as most of the top exchanges.
Of a fact, the decentralized exchanges is faced with barrages of challenges, some of which are fundamental. From low liquidity, through high technicalities and to large spread, the challenge of decentralized exchanges is quite enormous. With low liquidity, the implication is that there exist only a few purchasers and sellers.
Of course, the direct implication of this is a very bad price or herculean challenges in filling bug orders. Wide spreads usually result from wide margin that exist between bids and asks. As such, there is a great burden of costs for coming in and exiting positions.
Solution offered by bZx
bZx is developed on Ethereum and incorporated alongside the 0x protocol. It is the first completely decentralized, peer-to-peer marketplace for funding and transacting protocol. bZx is never in itself an trading platform but rather platform that can be incorporated into the present exchange system. Exchanges and protocols are stimulated by fees that’s chiefly owned and native to the BZRX protocol token.
bZx commences by developing all content for the use of the entire community. Within the common community development actions, the idea is to get to potential investors to give them the news of bZx and to keep them on board.
Components of bZx Protocol
bZx.js Library
The bZx.js is a Javascript library that is employed in incorporating b0x to current relays and exchanges, and initiate the front end interface for users to get funding on disaggregated Exchanges.
bZx Portal
This is a different web-oriented decentralized applications, a front end for the b0x protocol another way to reach the platform via a current exchange. Via this protocol, lenders and sellers can initiate and receive orders and handle their loans.
The bZx portal is a decentralized web-based application that acts as a front-end for the b0x protocol. It leverages on the b0x.js library and serves as a shop for those participants who wants to use the bZx protocol for lending and trading purposes.
bZx Smart Contracts
bZx smart contract protocols that are saddled with the task of handling funds, orders, and fostering a decentralized governance system for the platform. These components constitutes the b0x protocol layer that is aided by the Oracle layer.
The bZx Smart Contracts constitutes a service that tracks and resolves the funding in margin accounts, converting funds whenever it is necessary. bZx hopes to commence their native Oracle however third-party developers should be able to bring up innovative Oracle solutions that can be utilized for the use on the bZx protocol.
bZx tokens
The bZx token is an Ethereum-based ERC20 standard type token that is used as the local currency on the bZx platforms. Primarily, the bZx token is used for promotion and enhancement of order book compounding via relays and for absolute control and administration of the bZx protocol.
Conclusion
The bZx protocol offers a better lending and cheaper trading option with increased liquidity allowing decentralized margin trading and this can serve on just any margin.
For more info visit :
Website : https://bzx.network
Whitepaper : https://bzx.network/pdfs/bZx_white_paper.pdf
Lightpaper: https://bzx.network/pdfs/bZx_lite_paper.pdf
Telegram group : https://t.me/b0xNet
Twitter : https://twitter.com/b0xNet
Facebook : https://www.facebook.com/b0xNetwork/
Medium : https://medium.com/@b0xNet
Reddit : /user/b0xTeam
Github : https://github.com/b0xNetwork
Authors’s Bounty0x Username : raymondavid