0x (pronounced “zero-ex”) took the highest prize in the present day throughout the second annual Proof of Work pitch competitors at CoinDesk’s Consensus 2017 convention in New York.
The startup is constructing a protocol for use as a regular for the decentralized change of ERC20 tokens within the ethereum community. ERC20 tokens are a category of tokens that adhere to a set of requirements dictating their implementation in ethereum-based good contracts. As it stands in the present day, just about all tokens on the ethereum community now qualify as ERC20.
Amir Bandeali, 0x’s co-founder and CTO, made his pitch earlier this afternoon to Rumi Morales, the chief director CME Ventures; Dan Morehead, the CEO of Pantera; Brad Stephens, co-founder of Blockchain Capital; Matthew Roszak, co-founder of Bloq; and Lisa Cheng, a founder at Vanbex Group.
Decentralized token exchanges exist already on ethereum, however they’re all incompatible with each other, Bandeali stated throughout his pitch. The 0x protocol, he argued, is a constructing block that envisions a better diploma of interoperability between a number of functions.
0x’s victory comes with a $10,000 verify – together with the blessing of the panel of judges. The startup was one in all six finalists to participate.
Image by Morgen Peck for CoinDesk