The 0x protocol is an open protocol that allows for the peer-to-peer exchange of tokens on the Ethereum blockchain. The open-source, decentralized exchange infrastructure uses smart contracts to enable the exchange of tokenized Ethereum-based assets.
Developers can use its API for dApps that need to exchange tokenized digital assets across multiple blockchains. The 0X protocol can be integrated into smart contracts or the application layer.
The 0x ecosystem spans Ethereum, Avalanche, BNB Chain, Celo, Optimism, Fantom, and Polygon blockchains as of October 2022. It is decentralized with the help of a DAO, made up of its native ZRX token holders.
0x protocol consists of makers on the supply side and takers on the demand side. Makers are entities that create 0x orders and provide liquidity. On the other hand, takers are interested in trading their assets and consuming liquidity offered by makers.
