First to purchase some ZRX
0x Project, pronounced (zero ex) is an open protocol that facilitates the decentralized exchange of Ethereum-based tokens and assets.
Developers can use 0x to build their own custom exchange apps with a wide variety of user-facing applications.
The 0x token (ZRX) is used by Makers and Takers to pay transaction fees to Relayers (entities that host and maintain public order books). ZRX tokens are also used for decentralized governance over 0x protocol’s update mechanism which allows its underlying smart contracts to be replaced and improved over time.
The Ethereum blockchain has become host to a variety of digital assets, with more being created every month. Soon, thousands of assets will be tokenized and moved onto this open financial network.
As the token space continues to develop, the need to exchange these assets will be compounded. 0x protocol will act as a critical piece of infrastructure for the token economy, allowing Ethereum smart contracts to programmatically and seamlessly exchange Ethereum-based assets.