0x is an open protocol that enables the peer-to-peer exchange of assets on the Ethereum blockchain.
What is 0x ZRX?
The rise of the Ethereum network has created a flurry of transactions that require more space in a chain, with an open source based ZRX being developed. A different exchange has been proposed in order to trade currencies through the Ethereum network. This exchange is Ethereum-ZRX.
Now a new Ethereum-ZRX is announced by a currency trader “Gamasutra” on Twitter. This new Ethereum-ZRX promises to replace the Ethereum’s “Daemon”. In other words, it offers an easier and faster way of transactions. More people will be able to use the standard blockchain network to make an exchange. However, this chain will not be as good as the Ethereum’s network for high volume transactions and higher pricing.
The main difference between the Ethereum and ZRX is in exchange rate. Ethereum allows users to send and receive ether and “salt” in their wallets. However, Ethereum transactions do not need confirmation. Transactions in the blockchain, however, requires a particular transaction to be confirmed within a specific time. When a transaction is confirmed, it is usually done through a long waiting period. There are two ways of going through the transaction confirmation. One is through the use of zerocoin, which is a form of cryptocurrency, or by the use of coins, which are usually electronic (laser-printed) coins like Google/Yahoo/Bing etc.