0x (ZRX) Launches Instant, A Quick and Secure Cryptocurrency Purchasing Solution

by | Dec 12, 2018 | Cryptocurrency, Cryptocurrency News

0x | ZRX | Instant | Cryptocurrency Purchase | 0x Instant

ZRX News: 0x (ZRX) protocol launches 0x Instant, a fast, easy and secure way to purchase tokens from decentralized applications (dapps) and websites. The open source project that enables customization to suit the requirements of each dapp or website.

0x (ZRX) is an Ethereum based blockchain project that allows a decentralized exchange of ERC-20 and ERC-721 tokens. According to a Medium post by the platform, the developers who integrate Instant can optionally earn an affiliate commission of up to 5% per transaction. In order to benefit the customers, the new feature will receive the best prices possible, the post further elaborates:

It automatically finds the best prices within the 0x networked liquidity pool and lets users pay for tokens with ETH via MetaMask, Ledger, Trezor, or any other Ethereum wallet.

This enables the user to choose from an extensive array of Ethereum based utility tokens and some stable coins, though coins like Bitcoin (BTC), Monero (XMR), etc, are out of reach. All  Ethereum based tokens can be purchased with  ETH through any Ethereum wallet including MetaMask and hardware wallets such as the Ledger and Trezor.

0x Instant’s Integration

Powered with Javascript code, Instant can be easily integrated by the developers into their dapps or websites. A  graphical configurator further simplifies the process as developers could customize the interface. Developers also have a plethora of options handy to integrate a more complex user interface. Matt Taylor, the projects marketing lead, explains further in the post:

If you need more flexibility and want full control over how the UI is designed, use AssetBuyer, the engine that powers Instant. AssetBuyer leverages the new forwarder contract to abstract away the complexities of sourcing orders and performing market buys in the 0x network.

Advantages of 0x’s Instant

First and foremost, earlier it wasn’t feasible to build a seamless product experience into a single application. The introduction of Instant has made its possible for any application to offer a decentralized exchange for the purchasing of cryptocurrency. The 0x team elaborates:

Developers and innovators can make use of Instant to build product experiences that couldn’t have existed before.

Users can employ the service to get a platform-specific token directly from a website or application. While hosts can sell their in-game NFT or dapp token in a fast and seamless way. The post further notes that 0x Instant is currently being used by several projects for different use cases including non-fungible token (NFT) marketplaces and crypto price feeds.

Furthermore, Coinbase and Balance,  two major cryptocurrency wallet providers have had Instant integrated into their wallets. Meanwhile, a cryptocurrency price aggregation service,  CoinGecko, has also added support for Instant.

0x Instant 

Service like these is what the cryptocurrency industry needs right now to diversify its approach, minimize the barrier of laymen’s entry and to drive the adoption rate. Most importantly, the users do not go through any hassle, like that of a centralized exchange to purchase crypto, enabling an everyday person to jump on the crypto wagon seamlessly.

Will Warren, the founder of 0x, gave a short and sweet introduction to Instant, in an interview with Forbes: 

Ultimately, it’s another step towards our mission of allowing all tokenized forms of value to flow freely and removing obstacles for people to access a new global financial system.

Read more: Facebook Continues Its Rendezvous With Cryptocurrencies, Starts Hiring For Blockchain Positions

Arshmeet Hora

The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.”  Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.

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