The 0X (ZRX) Protocol Project Review
The 0X (ZRX) project had to be one of the most exciting CryptoCurrency projects of 2017. 0X(ZRX) launched its ICO on August 15th,2017 and since then they have been hard at work putting the capital raised to good use.
In this review, I will be analyzing the investment potential of the 0X(ZRX) project. I’m not a technical expert, but I will do my best to explain why the 0X(ZRX) project has a bright future in the cryptocurrency world.
0X (ZRX) Project Review- Introduction
For starters, the 0X project is pronounced as “zero-ex.” I uttered the name wrong the first few times before I heard the correct pronunciation.
0x is an open protocol that enables the decentralized exchange of Ethereum-based tokens and assets. Developers can use 0x(ZRX) to build their own modified exchange apps with a large variety of user-facing applications.
The 0x token (ZRX) can be utilized in two ways: The first function is that ZRX solves the directional problem and delivers network effects around liquidity, creating a response loop so that the early adopters of the 0x protocol can benefit from increased adoption.
The second use case of the token is that it will be used for a decentralized governance over the 0x protocol’s update mechanism.
As an investment, it can be expected that as the developers accumulate more ZRX and purchase it for liquidity then, in my opinion, the price should increase in value over time as the projects using the 0x protocol increase.
The 0X project has many developments happening at the moment you can view the full list here: 0X Projects, and as you can see it’s quite an extensive list of projects. A large number of projects being built by using the 0X protocol is an excellent sign that as an investment over time the value of ZRX will increase significantly once these plans have been fully developed.
The current marketplace cap of the (0X) ZRX token is:98,096,500usd, the circulating supply is 500,00,000 ZRX tokens, and 0X has a total lifetime supply of 1,000,000,000 ZRX. The token cannot be mined.
The supply, to be honest, is large but if you think about the functions of the ZRX token then having a significant amount is justifiable and will be needed so that the decentralized exchanges using the protocol have liquidity.
OX Protocol(ZRX) Project Review- Team Members
The 0X project has two co-founders, and they seem to be highly accomplished individuals, and I believe this to be a good sign as for a project as ambitious as 0X you will need motivated individuals who can lead the way. They also have other highly successful individuals that are part of the team.
The Advisors to the 0x Project are well known in the industry and even include the co-founder of the well known Coinbase exchange.
The 0X Project team is based in Silicon Valley San Francisco, California where cutting-edge technology is continually being developed. I believe 0X has the edge over competitors networking wise just by being surrounded with so many talented companies and individuals they will be able to network a lot easier than other blockchain companies.
0x(ZRX) has already attracted the attention of investors such as Pantera Capital and PolyChain Capital. So if these guys have invested in the 0X project, then that is a good sign and future indicator of potential success.
The 0X(ZRX) Protocol Project Review- Marketing
They have a huge Twitter following and a popular sub-Reddit. The 0x project also has a blog which they update often, and there you can find recent posts mentioning necessary updates and the progress being made by the 0x team.
Although the 0X team does a good job of marketing, I believe that they could stand to benefit if they create more video content on platforms such as Youtube.
The 0X (ZRX) Project Review- Investment Analysis
So this is just my two-cents, but I believe that the 0X Project will have a tremendous future and play a significant role in the future of Decentralized Exchanges.
Investors should be patient with this cryptocurrency as I believe it will take some time for the price to increase so this investment is best for those who are comfortable long-term holding tokens as the price will rise over time once the projects using 0X have been implemented.
It would be a good time to accumulate the ZRX tokens now before the price increases, and the projects are live and functioning.
If you longterm hold this token and are not worried about the day to day prices a year or two from now, I’m sure you will look back and feel it was worth it.
(As always please do your research before investing in crypto projects this review is my own opinion and is not meant to be taken as investment advice.)