- Over a year in the making
- Support for more complicated operations such as filter contracts for permissioned liquidity pools
- Full support for newer ERC standards
The official 0x blog announced Monday that they have completed mainnet testing for their overhauled decentralized exchange. After over a year of development, testing and independent security audits, the v2.0 0x exchange is live on top of the Ethereum mainnet.
The 0x decentralized exchange consists of a large framework of smart contracts. With the explosive growth of the Ethereum ecosystem in 2017-18 and a formidable sea of ERC tokens – including new standards such as ERC721 for non-fungible assets, the complexity of operations these smart contracts are called on to handle has increased significantly.
In response, 0x went for a complete overhaul of their code to not only allow for trade of all new ERC assets, but to make their dex easy and desirable to integrate in all sorts of other platforms and ecosystems, including third party dApps.
New features include filter contracts (allowing for the creation of permissioned liquidity pools), new signature types and custom verification logic, as well as more mundane upgrades like more efficient order matching.
The release of v2.0 also comes with a suite of tools and guides for developers interested in building on top of 0x or integrating trading on the exchange in their own projects.
All in all, the 0x team is confident that the second generation of their dex will impress users and developers alike.
Dexes taking over
With the explosive growth of crypto in the last few years, interest has been great in the possibilities offered by decentralization. It is one of the ironies of crypto that giant centralized exchanges like Binance have been able to spring up and have their wallets bloat with the coins of traders who leave their money forever on the exchange.
The irony is not lost on the community, however, and decentralized exchanges have been slowly gaining ground. New ones are springing up all the time – including a few willing to have their own tokens classified as securities. Meanwhile older player in the dex game like 0x are reinventing themselves and upgrading their code to keep up with the ever evolving landscape of crypto.
Nobody can say how the market will turn in the short term, but even as banks are beginning to bring crypto to traditional investors used to full centralization, so die hard defenders of decentralization are working to keep coins in the hands of the users.