0x is an open source agreement for point-to-point transactions to facilitate ERC20 tokens in Ethereum's blockchain. The agreement is intended as an open standard and common building block to promote interoperability between decentered applications (DApps), including exchange functions. The transaction is executed by the Ethereum Smart Contract System and is publicly accessible, free to use, and accessible to any DApp.
DApps built on top of the agreement can access public liquidity pools or create their own liquidity pools and charge transaction fees for their transactions. The agreement does not impose costs on users, nor does it arbitrarily derive value from a group of users to benefit other users. Centralized management is used to integrate updates into a basic protocol in a consistent and secure manner without disrupting higher-level processes.
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Official Website: https://www.0xproject.com/
White Paper: https:///0xproject.com/pdfs/0xwhitepaper.pdf