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- Theo Gonella at 0x labs wrote a blog post on Friday to lay out the plans for development for a permissionless exchange which would connect the growing constellation of viable layer-1 blockchain platforms.
- The protocol is designed to be an interoperability toolkit for decentralised platforms and over the course of this year, it has seen some significant success with connecting a network of more than 30 projects building with the API.
Theo Gonella, the product manager at 0x labs wrote a blog post at the end of last week on Friday to lay out the ambitious plans for direct development for a permissionless exchange which would connect the growing constellation of viable layer-1 blockchain platforms.
The protocol is based on ethereum and is designed to be an interoperability toolkit for decentralised platforms and over the course of this year, it has seen some significant success with connecting a network of more than 30 projects building with the API.
This comes as the industry of DeFi PR took off across the world and as it spiked, so did the usage on the platform. The protocol facilitated almost $4 billion in trade across decentralised platforms and aggregators and just less than $400,000 in particle fees were generated according to the 0xTracker.
But now looking towards the future, the platform is looking to bring its vision of interoperability cross-chain. The product manager said in the post:
“While Ethereum is the platform on which most tokenized value has emerged in the past years, we believe we are heading towards a multi-blockchain world with a vast web of interconnected networks forming the backbone of web3… Given our vision for 0x protocol as an open technical standard for p2p exchange, it is natural that the standard expand into new ecosystems as they emerge.”
The blog post highlighted the growth of competitor chains to Ethereum that would have to be shown in order for the 0x platform to specifically allocate resources for development. This would include unique cryptocurrencies and robust developer communities.
Theo has further noted that cross chain functionality is a very difficult problem to address.
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