0x
The 0x protocol is an open standard for building decentralized exchanges (DEXs) on the Ethereum blockchain. Launched in 2018, 0x enables developers to incorporate peer-to-peer (P2P) digital asset exchange into platforms and decentralized apps (dApps). 0x’s native token is ZRX, which gives holders participation rights in 0x platform governance.
Relayer (0x)
Relayers are 0x decentralized exchange (DEX) users who host off-chain order books, list buy and sell orders, and charge transaction fees. Relayers do not act as a trusted intermediary on the 0x platform, nor do they execute trades, however, their main purpose is to host order books externally to the 0x platform. Relayers help traders find counter-parties (other participants that transact within the network) and cryptographically move orders between them.