Decentralized Ethereum Token Trading Goes Live With 0x Launch
What’s going on under the hood of the application, called 0x OTC, is about more than just creating a new way for token owners to trade, according to 0x advisor and Coinbase co-founder Fred Ehrsam.
0x OTC is designed to let counterparties exchange tokens built using the ERC20 token standard without the assistance of a centralized exchange.
At launch, users will be able to trade ERC20 ether tokens, MakerDao tokens, Melon tokens, 0x protocol tokens, Augur tokens, Digix DAO tokens and Golem Network tokens.
Unlike in 2014, when decentralized app builders had few tools, he now paints a picture of an increasingly mature developer stack in the form of file storage provided by firms such as IPFS and Storj, for example; external data from oracles including Augur; and a monetization model in the form of token sales.
Each of those tools is powered by a native token, and to interact with each other, they will require a seamless means of exchange, perhaps similar to what 0x launched today.