Bored Of Vanilla 0x? Here’s 7 More Flavors

HashFlare

ComputerUniverse Введи промокод FW7FRUX при покупке и получи скидку 5 евро

While 0x is built on the Ethereum protocol, many other services still rely on the former. While users can draw inspiration from 22 functions in a Medium post published December 5, 2018, in the following article, BTCManager will be uncovering seven of them.

Background Info

0x is an Ethereum protocol leveraging smart contracts which allow traders and buyers to trade in a decentralized fashion. BTCManager featured 0x in the second part of it Ethereum dApp roundup.

Users can trade beyond the typically supported assets and tokens of regular exchanges, with 0x having capabilities to support decentralized loans, collectibles, and even prediction markets.

Furthermore, as more users build services on top of the protocol, liquidity increases as 0x serves as a “common thread” which links all services built on 0x together.

This is powerful, as users from one exchange might be matched with an order from another exchange, giving users the best possible prices, closing times, and volume.

Alternative and Decentralized Markets

Some of the largest markets also happen to be some of the most inefficient regarding fees and liquidity. Take, for example, the precious metals and real estate industry. The ability to tokenize these assets and exchange them on 0x or a relayer (a layer built on top of 0x) would cause numerous positive changes.

Firstly, lowering the barrier of entry and allowing investors to own portions of a million dollar house, a concept we already see in action from other projects in the space.

Other benefits include faster processing times, higher liquidity, and overall higher market efficiency. Since there’s no need for real estate agents, handlers, and intermediaries, many of the layers between a buyer and seller in these inefficient markets would be eliminated.

Social Good

0x could be the backbone necessary to take projects like Kiva, a microlending service, to the next level.

advertisement

Blockchain technology offers a level of accountability that is unmatched in conventional software, as well as being able to provide the loans quickly and easily.

These characteristics are useful for situations where money is needed quickly and can be utilized as fast as possible. Undercover journalists, political protests, or just entrepreneurs trying to bring clean water to a village could all benefit from fast money.

Universal Subscription Payment

With more and more revenue coming from subscription-based business models, it can be a hassle to keep up with all of them.

By consolidating them all, and allowing consumers to pay a single lump sum which is automatically divided amongst companies would be a huge convenience. To make this use case even sweeter, tying it to a stable asset would help against volatility.

Instant Revenue

Companies could take advantage of 0x Instant, which would allow consumers to purchase their tokens with a single click. Not only is this a working solution already, it only takes a few lines of Javascript to implement.

Twitch Streamers, Patreon users, and even Reddit gold could all be made a lot easier through a solution like 0x instant.

Novel Advertising Models

Tying in with 0x instant could bring forth a new type of advertisement that would have higher engagement rates. A new project could have press distributed to multiple outlets, and have exclusive tokens allocated to each article.

Users wouldn’t even have to leave the article they were on, making it that much easier to attract new users to a new website, service, or token sale.

Splitting the Bill

This is a situation with which even modern social payment apps like Venmo, Paypal, and Ca$h still struggle.

For bill splitting to work, all parties need to have the same app downloaded, so its use case is very limited.

Splitting bills with 0x is a breeze. Not only can you get paid in the requested token of your choice, but those that owe you could also exchange other tokens to come up with a payment.

This makes for potentially interesting scenarios where you could play with the market and get a friend to pay for your meal, and pay them back for cheap.

Domains

Demand for ENS domains is high, but the process from a user interface standpoint is still virtually nonexistent.

Even users that are not interested in building anything from a domain could still acquire numerous domains now, and sell them at a later time when prices have appreciated.

Either motive, there is a tremendous need for the user interface of interacting with domains to be simplified. 0x combined with ENSifty, for instance, would be able to create a market for these domains, and a developer focused on ease of use could quickly become the GoDaddy of ENS domains.