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The cryptocurrency sector, since Bitcoin (BTC) launched nearly a decade ago, has gone through several transformations and very important steps in its evolution. The crypto world began with Satoshi Nakamoto’s concept of a decentralized ledger-based digital currency that would wipe out the need for massive banks and abusive financial institutions while putting power and transparency back into the hands of the individual.
Since then, we have seen the introduction of a ton of really cool innovations: from smart contracts and decentralized applications (dApps) to oracles, hard forks and Bitcoin futures, so many different events have pushed the cryptocurrency industry a bit further along toward the ultimate goal of mass adoption.
A new crypto project called b0x (B0X), which combines the power of the Ethereum (ETH) network with 0x (ZRX) technology, is taking the blockchain world one step in the same direction – toward decentralized margin trading.
What is b0x (B0X)?
This venture is still in its early phases – they just released their whitepaper last month. The whole concept of b0x was inspired by the invention of the 0x (ZRX) protocol. It’s what the b0x team refers to as the “0x revolution,” referring to the invention of off-chain ordering relays. To make a long story short, 0x made decentralized exchanges more efficient by allowing all non-value transfer activities to happen off-chain.
Heavily inspired by 0x’s innovations, b0x began taking shape – which fuses the power of the Ethereum (ETH) network with the 0x (ZRX) protocol. It’s an ERC-20 token, but it is fully integrated with 0x, which is how it is managing to build the first totally decentralized, peer-to-peer margin funding and trading protocol.
In case you don’t know, margin trading basically means that users can make trades that exceed how many funds they really have (and, therefore, increase the amount they can gain) by borrowing from the brokerage account.
The b0x protocol is going to change crypto margin trading
The technology behind the b0x system is pretty complicated, but they do a really good job of breaking it down into simple-to-digest terms on their blog and in their whitepaper. It basically boils down to the b0x protocol having two layers: a protocol layer and an oracle layer.
In their own words:
“The protocol layer contains the b0x.sol and b0xVault.sol contracts, which control the order object logic, escrow of funds, and decentralized governance. The protocol layer is governed by b0x token holders to facilitate seamless and decentralized contract updates. Much like with ZRX, the b0x token is used to incentivize relays to aggregate order books.
The oracle layer allows for monitoring the health of margin accounts, and for liquidating trades when these accounts fall outside the margin maintenance requirements.”
It’s a game-changer for the decentralized cryptocurrency sector, and it has the benefit of harnessing the flexibility of the Ethereum (ETH) network with the efficiency of the 0x protocol.
Their pre-sale (which already had enough interest via EthDenver to meet the hardcap in 24-hours – but the team refused to limit the ownership pool to so few investors) isn’t live yet, but you can still join the whitelist.
Interested? You can check out this project’s Telegram group here.
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