Blockchain innovation appears to move at lightning speed, even in the midst of the profound crypto market correction we find ourselves in.
Will Warren, co-founder and CEO at 0x, recently announced the rollout of v2.0 of the exchange protocol. This launch comes after more than 12 months of development and multiple rounds of security checks. He conveyed his confidence that this new system of Ethereum smart contract is one of the most audited frameworks on the Ethereum blockchain.
Warren noted that v2.0 marks a significant breakthrough in 0x’s long-term mission of making a tokenized universe where value can flow without restrictions. Whilst the code’s original variant achieved a couple of accomplishments like cutting costs associated with trading and creating beautiful user experiences, the latest version brings additional modularity and extensibility to the protocol that lets programmers address numerous new use cases.
The attention on modularity extensibility is partially informed by the explosion of ERC20 tokens and the rise of various token standards. According to Warren, the second version of the protocol considers this development and enables users to trade new cryptocurrencies as they emerge in the crypto market.
For instance, the new contract design of v2.0 includes support for ERC20, ERC721, and other token standards. Because of the protocol mechanism’s modularity, users will be able to trade their ENS names, R-Tokens, and ERC-777 using 0x in due course.
Support for different digital signature schemes, like Trezor and EIP 12, and also atomic order matching, which allows orders to be matched together without requiring capital apart from Ether to take care of gas costs, are some other main features of the latest release.
Warren said the team took into consideration feedback and suggestions from its followers, including UI designers and solidarity developers before releasing the current version of 0x.
Before the Mainnet rollout, ConsenSys Diligence, an EDCC auditing service, released results for its thorough review of 0x v2.0. As observed by the auditors, the protocol has well-documented specification documents and well thought-out contract repository. The team noted down 25 issues of varying seriousness, thirteen of which were fixed by the time ConsenSys published its report.