The message structure of the 0x protocol is made up of a number of data fields that contain crucial information including the digital asset or token to be exchanged, the transaction's price, the expiration time, and the stated identities of the transacting parties.
Smart contracts handle the business logic for creating, sending, receiving, and processing data related to trading activities.
It also makes room for any necessary improvements in the future.
If any adjustments are required to comply with the changed legislation or any alterations related to the Ethereum blockchain network's intrinsic operation, the provisions for upgrades are required.
Relayers, which operate as order aggregators and broadcast orders from specified market players to the marketplace or exchange, are also used in the system.