0x introduces Protocol V2

16 May, 2018
by Matthew Kim
News
0x introduces Protocol V2

In a medium blog post, 0x has announced their Protocol V2, which will feature a new smart contract architecture and many other updates.

0x is a protocol that facilitates the exchange of tokens, allowing users to utilize the network on the backend of a project to operate a decentralized exchange. The goal for the project is to create a secure, feeless, and efficient means to transact Ethereum-based tokens. The first 0x implemented smart contracts were activated on the Ethereum mainnet in August last year.

In the update that is projected to launch in late July of 2018, 0x will expand upon the ERC-20 tokens to support the growing number of types of tokens. The team believes that a lot of different values that exist in the world are becoming tokenized and 0x will be the tool built to allow them to flow freely.

One of the most important facets of the innovative architecture will be its modular approach. In theory, the architecture will allow the 0x team to add support for tokens without having to modify the existing smart contracts or forcing the users and developers to upgrade to the newest version.

According to the current timeline, 0x will start testing the integration with existing Relayers and dApps on June 9th. The project is planned to be audited by Diligence and Quantstamp on July 2nd before the deployment around July 30th.

Currently, 0x ($ZRX) sits at 32nd in terms of market cap according to livecoinwatch with 720 million. As of now, there are 15 different 0x Relayers that facilitate the trading of ERC-20 tokens on the mainnet.

For more information on the update: read their blog post here.

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Read more about: 0x (ZRX)

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