This interoperability protocol intends to expand beyond Ethereum, to create a network of interconnected blockchains.
In a post published on the official blog , Theo Gonella, product manager of 0x Labs, illustrated the ambitious and complex plans of the protocol for the development of permissionless exchanges: the goal is to seamlessly connect the ever-expanding universe of platforms. blockchain layer-1.
The protocol, based on Ethereum, was designed as an interoperability toolkit for various decentralized exchanges ; this year has seen considerable success, for example, in linking a group of more than 30 projects via their APIs.
During 2020, with the boom in Decentralized Finance (DeFi), the use of 0x also grew significantly: the protocol helped to exchange nearly 4 billion $ through DEX and aggregators such as Tokenlon and 1inch, generating, according to 0xTracker, nearly 400,000$ in fees.
Similarly, 0x's native token, $ ZRX, was up 280% , from 0.259$ to 0.73$, before a 50% drop in the context of the sudden collapse of the DeFi market.
According to the post, there are various growth indicators that Ethereum competitors should show in order for 0x to dedicate development resources to them: in particular the presence of unique digital assets, a robust community of developers and a significant pool of end users.
