0x ZRX to General Attention Currency XAC Exchange

Crypto Pair Details: ZRX to XAC

0x ZRX

0x is an open protocol that is designed to offer a decentralized exchange as part of the Ethereum blockchain. 0x is made using a protocol that involves Ethereum smart contacts that allow those around the world to run a decentralized exchange. The team behind 0x strongly believes that in the future, you will find thousands of tokens from Ethereum and that 0x can provide an efficient and trustworthy way to exchange them. 0x have several benefits such as it can be any asset. The 0x protocol facilitates the exchange of a growing number of Ethereum-based tokens including currencies, game items, and many more digital assets. Besides, it has a networked liquidity. By sharing a standard API, relayers can easily aggregate liquidity pools, creating network effects around liquidity that compound as more relayers come online. 0x also can be exchanged anywhere. 0x allows trade functionality to fade into the background, enabling developers to focus on building while 0x handles the exchange. The co-founders of 0x are Will Warren and Amir Bandeali, the first of which is the CEO and the second of which is the CTO. Both are in smart contract research and development. Warren used to conduct applied physics research at the Los Alamos National Laboratory after studying mechanical engineering at UC San Diego. Bandeali used to be a fixed income trader with DRW after he studied finance at the University of Illinois, Urbana-Champaign. 0x doesn’t charge fees of any type to use their protocol; it is free. However, if someone chooses to create a decentralized cryptocurrency exchange using the protocol, that person, known as a Relayer, can charge fees. How does it work? 0x protocol works where : A “Creator” sends his request and at that same point the request is posted in an off-chain arrange/order book by the “Relayer”, next to which the request is acknowledged by the “Taker” by pushing the exchange into the task’s DEX smart contract. Thus, the 0x protocol uses off-chain order books, which is maintained by a relayer for settlement of trade between two parties. Relayers, being behind the maintenance and creation of these channels are incentivised by charging and collecting fees. 0x (ZRX) Token: ZRX token is the unique aspect of 0x project which will be used to pay ‘relayers the trading fees by the users of the protocol. It is also a governance token in a decentralized form for the 0x protocol’s upgrade.

General Attention Currency XAC

The 2016 economic report “On the Value of Virtual Currencies” commissioned by the Bank of Canada, found three contributing components dictating a cryptocurrency’s exchange rate: The actual use of virtual currency to execute real payments. The decision of forward-looking investors to buy virtual currency (thereby effectively regulating its supply). The elements that jointly drive future consumer adoption and merchant acceptance of virtual currency. XAC Attention Addresses Attention Addresses are linked to AMARK consumer data and have specific rules enforced by the XAC protocol. There are two key functions of attention addresses: XAC-LOCK XAC-Lock is a feature that encourages continued consumer engagement with AMARK. The XAC sent to Attention Addresses is initially locked and becomes available after a maturation period. The XAC attention awards paid to consumers continually matures into availability as new XAC is earned from ongoing attention marketing. This process encourages engagement with AMARK as attention wallets will rarely have a zero XAC balance, giving consumers a consistent flow of value to spend within the ecosystem. XAC-BURN XAC-Burn is enforced at the protocol level. All transfers to Attention Addresses require 5% of the XAC transferred to be burned. The XAC -Burn feature is designed to align interests between merchants and consumers in the AMARK ecosystem. Anytime merchants use the AMARK platform for marketing, they are supporting the value of the XAC currency as protocol rules enforces a 5% burn. As such, merchants are effectively scaling the supply of XAC to match the demand from the ecosystem. This supply-side scaling mechanism will offset new coins introduced through block rewards and pressure the price of XAC to an equilibrium reflective of demand from the ecosystem.

SOURCE: COINGECKO

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