0x Team Rolls Out 0x Protocol Second Version
The team is collaborating with different projects to test the system before it is officially launched.
Beta Version of 0x Protocol Released
The 0x project has accelerated its push towards becoming a decentralized network. The project developed on the ethereum network aims to become the anchor infrastructure for the exchange. The project has released the 0x protocol’s beta version 2. The version is now active on the ethereum blockchain.
Once the projects are complete, trading will be cheaper and faster. It seeks to facilitate the efficient trading of ERC-20 tokens. At the moment, 0x protocol initial version permitted over 100,000 trade where the cumulative trading capacity surpassed $200 million. However, it needs more iteration, something that led to the birth of the second version.
The second version has a number of uniques feature. It has advanced signature schemes, modified smart contracts tailored for ERC token needs, WETH integration and an atomic match order. The beta version of the protocol means that it has to be tested at a given timeframe until it is open for large-scale launch.
At the moment, no beta version is perfect. In case any transactions are conducted at this stage we might have a number of hitches. In the testing stage, the 0x team is working closely with a number of projects such as Quanstamp. The Quanstamp project is backed by ethereum with focus on smart contract security and auditing.
The incentive to Track Flaws
0x has further revealed that it is launching a new program dubbed 0x Bounty Program. Under the initiative, developers with earn perks to discover important setbacks in the beta version of 0x. Depending on how severe the flaw is, a developer can earn up to $100,000.
The new program is a clear indication that the 0x team value contribution of its community in coming up with open-source decentralized projects. The protocol will remain under the beta version for an unspecified time. The team wants to be sure that it is flawless before anything is rolled out. During this stage, all potential bug threats will be eliminated first. Additionally, under this stage, the 0x team revealed that it will assist developers to move from v1 to v2.