0x Network Development Resumes Despite ZRX’s Recent Fall

0x (ZRX) is the 41st coin on the list and technicals now show that the coin is losing momentum just like the rest of the market. However, the positive altcoin news show that the 0x network development resumes despite the recent fall. Both active addresses on the network and transaction counts are within the historic levels. The ZRX core team now continues making significant updates to the project’s extensive road map.

As an ERC-20 token designed to power various forms of decentralized exchange (DEX), the current USD spot is down by 90% from the all time high set in January 2018. ZRX has a total market capitalization of $152 million and there are $16.29 million in trade volume over the past 24 hours.

As the 0x network development resumes, we can see that the ZRX protocol is actively developing. Founded by Will Warren and Amir Bandeali, this protocol has been in the blockchain news, and there are notable project advisors including the co-CIO at Pantera Capital and founder of Augur, Joey Krug, as well as three alums from Coinbase.

The rise of the decentralized exchange (DEX) is in part a response to the more than $1.5 billion that was lost by centralized exchanges in the form of hacks, malfeasance or incompetence over the past 10 years. The good news now is that the 0x network development resumes and there are less options for hackers to reach their targets.

On the other hand, ZRX is a token that includes a messaging format for trade settlement as well as a system of smart contracts for a decentralized governance module, which has yet to be implemented. As you probably know, decentralized governance was included in an attempt to reduce the friction associated with upgrades and platform downtime. Still, the platform’s core feature is providing DEX architecture solutions in a system of relayers.

These relayers can use the ZRX token to approve the proposed developments, decreasing the circulating supply of the tokens and being reminiscent of proof-of-stake. The model does not prevent relayers from forking the ZRX protocol, if they wish to implement their own changes or if they disagree with changes implemented by the ZRX core team.