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Ox API represents the concrete infrastructure of a future crypto-economy that has changed the course of all the digital markets that were not imaginable before the introduction of crypto trading.
So, OX API has generally established the new financial stack which is more user-friendly, transparent and secured than before. Now Ox API claims to provide economic freedom to the person who wants to trade freely and without any intervention of the third party.
Also, This Organization has some core values and guiding principles that aim to have a tokenized form of monetary values running on the public blockchain. If you are interested in bitcoin trading visit Immediate Edge
What is an OX API?
OX API is a decentralized crypto exchange that is used to trade Ethereum token ERC-20, it is one of the high-profile exchanges that offers a peer-to-peer transaction using smart contracts as its main element.
Also, OX combines two kinds of trading technologies that have been already been mentioned by us in many of our blogs i.e.;
- Automated market maker
- State Channels
Where State channels support the online transaction and Automated market makers support the online automated transaction, so in short, we can simply conclude that OX is an off-chain and on-chain relay transaction system.
Ox API is sometimes also seen as the Craigslist solution for the crypto economy because it gives the developer a chance to develop its cryptocurrency and distribute it online through the crypto network.
Also, OX API has released it is ve token called Z which is an Ethereum token used to pay trading fees to the relayers whose job is to connect market makers with the takers.
Who is the Creator of OX?
Now the most important question that arises is when did OX API come into effect? The absolute answer to this is when Will Barren and Amir Bandeali came together with a common notion to create such an API that can act as a professional crypto aggregator and hence the OX was launched in October 2016.
The main aim behind launching the OX was to generate the tokenized form of every valuable asset that is present in this world, from a precious metal to a physical currency that has its monetary value in terms of the crypto economy.
What are the qualities of an OX API?
OX API cements the gap between the fiat currencies and the crypto token by creating the token form of every asset, thus a person can develop its kind of new cryptocurrency.
This not only fills the usability gaps but also has been very fruitful in raising millions of ICO for its own native Token ZRX.
Therefore, here we will be seeing the properties of OX API as a crypto aggregator:
- Transparent and Equitable Crypto economy
OX API wants to integrate fiat currency with the cryptocurrency and also it drives the force behind the aim to create a user-friendly interface that is transparent and equitable.
It is a Craigslist solution that aims to develop a new system of cryptocurrencies that can be easily created by users.
It is an open protocol for the decentralized exchange which can operate with many different Ethereum based blockchains.
- Compatible with other exchanges
The OX API is made to be compatible with other exchanges like Coinbase, Gemini and Binance, etc., and can empower enterprises all around the crypto trading world.
Conclusion
OX API is a transparent and equitable decentralized platform that includes many goals towards the stable crypto-economy like building technical infrastructure and its native Token ZRX is used to pay the relayer’s fees during the Transaction.
Also, it is based on Proof-of-work (POW), which not only makes it unmineable but has a solidified foundation that can’t be hacked or attacked. So, overall OX API is a combined set of open financial primitives that is a more efficient reliable financial medium free to use and run on the open-source protocol.
