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0x Decentralized ERC-20 Token Exchange Raises $24Mn in ICO

Aug 17, 2017 AltcoinsEthereumICOResearch 1

 

0x-project-logo-with-text

 

One of the latest startups to emerge, 0x (ZRX), has raised $24Mn in funding from their initial coin offering on August 15th, 2017. According to the 0x team, 12,000 backers helped reach the $24Mn hard-cap within 24 hours. The ICO attracted participation from venture capitalist firms such as Blockchain Capital & FBG Capital, which we’re issued discounted tokens for early contribution.

What is Protocol 0x?

The 0x (zero-x) startup aims to be a decentralized exchange for trading ERC20 tokens directly between people on the Ethereum blockchain. The protocol is designed to act as a common building block & open standard for Decentralized Applications (dApps). This allows for interoperability between dApps that offer functionality similar to an exchange. Any dApp can hook into a system of publicly accessible, free to use Ethereum Smart Contracts and execute trades between peers. For example, when a user broadcasts an order, the protocol can allow anyone to act as an exchange, maintain a public or private ledger and charge transaction fees based on the resulting volume.

Diving deeper into 0x: An open protocol for decentralized exchange on the Ethereum Blockchain

You can learn about the various features the 0x protocol has to offer by reading their whitepaper. The protocol has seen participation from a few notable names in the cryptocurrency industry. Here are some of the latest projects being built on the 0x Protocol:

Token Sale Details:

On August 9th registration opened to participate in the ICO. Registrants had to utilize the Civic application to authenticate & verify their identities before being able to contribute and get ZRX tokens.  A total of 1Bn tokens were available and of that 1Bn, 50% was issued to ICO participants during the token sale. The Token sale ended on August 15th, 2017, after reaching their $24Mn hard cap.

 

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Source: https://0xproject.com/token

 

We’d love to hear your thoughts on Protocol 0x, so please let us know in the comments below.

Sources:

0x Project Token Sale

0x Project Token Sale Registration Details

0x Project Official Website

0x Project Whitepaper

 

You may also like to read: Civic is Disrupting the Identity Verification Industry

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Arman S.

Arman is the CTO at CryptoCanucks Inc. and the developer/designer of our platform. He has over 5 years of development experience building web applications, websites & mobile applications. He is an avid supporter of Blockchain technology, as well as, an Ethereum 'fan boy'. When he isn't working on CryptoCanucks, he runs a digital marketing agency in Toronto called Synmek.

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