Built on the Ethereum blockchain, 0x is an open-source protocol that allows for the frictionless peer-to-peer exchange of cryptocurrencies. The team sees a future in which the Ethereum network will be used to tokenize all forms of assets.
For example, instead of going through a lengthy procedure involving attorneys and escrow agents when selling a home, the 0x protocol provides a comprehensive solution that can be used to tokenize the property and transfer ownership to the buyer via a smart contract. This eliminates the need for any costly intermediaries while also speeding up the whole process, thereby turning real estate into a liquid asset.
With the 0x Launch Kit, anybody can create their own decentralized exchange (DEX) on top of 0x and collect fees for their services. The 0x protocol is a standard message format for exchanges, comparable to SWIFT, which is the standard messaging system used by banks all over the globe to communicate about fiat currency transfers.
The 0x API (application programming interface) was also released, which combines liquidity throughout the network and allows customers to exchange assets at higher prices – at all times.
