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0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

387 points by tomhschmidt 7y ago

tomhschmidt 7y ago
Tom from 0x here. Happy to answer any questions about Launch Kit or 0x more broadly!
- v64 7y ago
  Been following the 0x project for a while, just want to say this is an amazing project that demonstrates the power and potential of smart contracts and decentralized finance. Keep up the good work!
- bananocurrency 7y ago
  Is there a bug bounty on this?
  - tomhschmidt 7y ago
    There's a bounty on the 0x smart contracts, but not on this sample exchange codebase https://blog.0xproject.com/the-0x-v2-bug-bounty-f8981f322dd7 https://blog.0xproject.com/the-0x-v2-bug-bounty-f8981f322dd7
  - blunte 7y ago
    The real bug bounty is for someone to exercise a flaw and steal from others :/. A dapp of any sufficient complexity will have bugs, some of which can probably be exercised to steal funds.
- flyGuyOnTheSly 7y ago
  How do you overcome the inevitable "I don't trust an exchange that was launched within minutes by an amateur" stigma?
  - deleted 7y ago
    [deleted]
  - tomhschmidt 7y ago
    You don't have to trust! 0x Exchanges are non-custodial -- you hold onto your funds and atomically execute trades through the 0x smart contracts, which are open source and audited. https://www.youtube.com/watch?v=WSxphhWcLxk https://www.youtube.com/watch?v=WSxphhWcLxk
    - flyGuyOnTheSly 7y ago
      So ultimately the users have to trust the smart contracts then, yes?
      - polezo 7y ago
        Or they can verify them themselves since it's all open source. And for the less technically inclined there's also 3rd party audits and an active bug bounty. Point being, everything is open and transparent, and none of it happens behind the scenes, so that's where the "trustless" comes in. While yes, that word is overused and misunderstood, and regular users still admittedly do put trust in open source code on a public network, it's a much more open system than we've been able to have before. The trust users depend on in this instance doesn't rely on faith in any single entity to tell you what's changed in their private DB behind the scenes, you can verify it for yourself.
      - profalseidol 7y ago
        Remember that the smart contract is committed to the blockchain and can never be changed. Just like when you push your code to a git repo. It's guaranteed immutable, tamper proof. Data side is handled by appending to the blockchain as well. But this doesn't mean it's bug-free. You have essentially a tamper proof Database with Stored Procedures that doesn't need DBAs. I imagine it as a giant growing BitTorrent file that is maintained (and rewarded) by many computers worldwide. Any tampering to this file, it's immediately detected via hashing (just like in BitTorrent). The only way to break this is by branching out like you do in git. But in Blockchain, you will have to convince those computers to maintain your fork. And on this note, a Blockchain is technically not controlled by 1 entity, it is the choice of every individual blockchain maintainers (aka miners).
- turtlecloud 7y ago
  how will you guys compete against binance?
- dmos62 7y ago
  Hi Tom! After reading the Why page, I still don't have a concrete notion of what this is. So I'll jab a few questions that might help me make some sense: First question is about decentralization. What is off-chain relay in this case? Is that a centralized part of the system? Are there centralized parts of the system? Can this be used to implement more robust margin trading? To my knowledge, only centralized exchanges/brokers currently exist for margin trading. What settlement speeds can be expected? That's it for the questions. I don't want to retract from them, but I'll mention that the site doesn't work well with Dark Reader: all theme generation modes, except static, render most of the text invisible.
  - tomhschmidt 7y ago
    Great questions! First question is about decentralization. What is off-chain relay in this case? Is that a centralized part of the system? Are there centralized parts of the system? Off-chain relay is how parties find each other facilitate a trade. As a maker, I can create an order off-chain, but I still need to find a relevant taker who is interested in filling the order by sending it to the 0x smart contracts on-chain. Relayers pool together these off-chain orders and serve them up through a website, so that it's easy to find people to trade with. Note that this process is optional -- you can still trade peer-to-peer if I send you the order over email, SMS, etc. While relaying is centralized, relayers are non-custodial, so your funds are never at risk. We also have plans to make some parts of relaying less centralized in the future through 0x Mesh: https://blog.0xproject.com/0x-roadmap-2019-part-3-networked-liquidity-0x-mesh-9a24026202b3 https://blog.0xproject.com/0x-roadmap-2019-part-3-networked-... Can this be used to implement more robust margin trading? As for margin trading, yes, you can trade dY/dX tokens on 0x relayers, or combine 0x orders with any on-chain lending protocol such as Dharma or MakerDAO to get leverage. What settlement speeds can be expected? All trades currently settle on-chain, so the Ethereum block time is our bottleneck. Look for some updates on this near future :)
    - Legogris 7y ago
      To expand on this - a middle ground between the centralized exchanges dominating today and the (relatively) slow and expensive ones on the Ethereum mainnet would be a sidechain using a different physical topology and consensus model. Some examples that have been gaining buzz recently (these are just examples, there are alternatives to each) if you want to read up and grok the statr of implementation and thoughts today: Plasma chains, PoA Networks xDAI, SKALE, PegaSys.
- stcredzero 7y ago
  Could I use this to launch an exchange for crypto derivatives?
  - feuGene 7y ago
    Sure. If you create an Ethereum-compatible token that represents the crypto derivative you have in mind, then you can indeed use this to launch an exchange for that token.
- deleted 7y ago
  [deleted]
- johnmarcus 7y ago
  I think i see what you are doing here while others are missing the point. If there is an open source ui, there is an open source api as well. My do-something-usefull-for-users app isn't going to launch a full exchange - but what I would implement is the api library allowing a user to exchange utility and $$ tokens from one to another while staying in my app. ergo, the user benefit here is that the user only needs a Coinbase or like account to transfer dollars to tokens, and then the user can obtain other tokens within any particular app. The user doesn't need to sign up to yet-another-exchange-with-my-personal-data-and-who-are-these-people-anyway-and-do-they-have-the-tokens-i-use-etc,etc. Now the user can readily take tokens not in use on one platform and transfer them to a token of another platform, all without leaving the platform specific application. That's a big win for the ecosystem. I can see why you built the slick ui to demo your product, i think it's the right move because i can use it without a single line of code. I think the next challenge you will have is getting developers to adopt an underlying api client library. If I understand what you are doing correctly, perhaps build that client library in js to be used in react and a demo app that has reduced exchange funcationality for quickly swapping two tokens. it should look as simple as the interface for sending tokens to someone now. If I guessed all that right, the company i work for may be willing to be an early adaptor. Let me know. We certainly aren't going to build yet-another-exchange, but i think empowering a transfer of btc/eth/eos/xrp -> myLittleUtilityToken within app would be very powerful.
  - tomhschmidt 7y ago
    Hi John -- sounds like you might be interested in 0x Instant, which lets you offer one-click token-to-token swapping on your website or inside your app. https://0x.org/instant https://0x.org/instant
- rando444 7y ago
  This question is open to anyone: I'm extremely curious what the business model here is. Who is paying for this to be created, and what do they get out of it in the long run?
gregorymichael 7y ago
Site looks great. Nice design.
detritus 7y ago
I'd perhaps add something like 'crypto' to the headline - I thought this was a marketplace for physical items, somehow - like a local goods exchange.
- jldevops 7y ago
  Agreed, just a small change, otherwise awesome to see something like this out there. Just curious, does anyone know of a kit like this for digital marketplaces for goods or services (not crypto)?
  - stcredzero 7y ago
    Right. I thought this was for building an exchange for goods in general. That's what I thought was awesome.
  - joshfraser 7y ago
    Yes! At Origin we built a Marketplace creator that allows you to create a decentralized marketplace for buying and selling anything in a matter of minutes. https:/www.originprotocol.com/creator
- sctb 7y ago
  OK, added. Thanks! We could also try “token”, which seems more precise in context although more ambiguous on its own.
dstick 7y ago
Is it pronounced “ox”, “zerox” or “zero x”? :)
- CyrusL 7y ago
  We pronounce 0x as “zero-ex,” but you are free to pronounce it however you please. https://0x.org/faq https://0x.org/faq
- tomhschmidt 7y ago
  We call it "Zero Ex"!
- duncan-donuts 7y ago
  In the disclaimer it lists a company as ZeroEx Intl, so I’d guess the last example
steveharman 7y ago
Does the planet _really_ need any more crypto exchanges? Hardly a week goes by without a couple of new ones starting. Surely we must have more than enough by now?
- jandrese 7y ago
  Hardly a week goes by without one folding due to hacking, mismanagement, or outright criminal activity. Seems like they need someone to keep up the churn or they might run low.
  - joosters 7y ago
    Yes! Once I've exit-scammed, I need to start my next exchange ASAP. If this toolkit could spin up a new exchange with a randomly-generated theme, that would be great, thanks!
    - aakilfernandes 7y ago
      0x is a decentralized, non-custodial exchange protocol. The UI could have malware though, which is why it makes sense for various relayers to have a single UI.
  - Quekid5 7y ago
    So, no. The answer is no. EDIT: it's absurd that people continue to fall for this nonsense, but here we are, I guess.
  - woah 7y ago
    You can’t steal the tokens if you are running a 0x exchange.
    - TeMPOraL 7y ago
      Hold my beer.
    - village-idiot 7y ago
throwaway2016a 7y ago
This looks great but I'm not sure if the title is accurate. For most of the world the barrier to running an exchange is four fold: 1. Technology 2. Regulatory 3. Trust 4. Critical mass This looks like it only address 1. Which is certainly a big hurdle but I would have loved to seen something explaining how to get 2 - 4 done. From some of the answers bellow: > You don't have to trust! 0x Exchanges are non-custodial That's great. There should be a writeup on that front and center of the how and why.
- munificent 7y ago
  I think you forgot: 0. Doesn't actually solve any real problem for actual humans in the first place.
  - v64 7y ago
    I disagree with the point, but for the sake of argument, why is this a negative? Large portions of pure mathematics would be deemed irrelevant by this standard. Blockchains and smart contracts are still a burgeoning technology, and projects like this demonstrate what is possible in a tangible way. Perhaps this particular project has no use that you can foresee, but it's the foundation upon which future projects of worth will be built.
    - banachtarski 7y ago
      I love pure mathematics but I don't quite agree that all the blockchain stuff falls in the same vein at all. There is no "science" here. No positing of a theory that explains what happens when X happens. After the original paper which largely built on ideas that already existed, I don't believe the field of consensus protocol has been greatly enhanced by the crypto fad. In fact, almost all products, papers, and developments have been for the express purpose of commercializing a product. Math does not purport to be "market-ready." It's foundational, and honestly, it still does need to be used in the sense that the measure of a good theory is it's applicability to actual problems (although sometimes, the problem itself isn't always easy to grasp).
deleted 7y ago
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leoplct 7y ago
Why should I launch an exchange when there are already hundreds of existing exchange? As a entrepreneur: Exchange services is very difficult to differentiate. It’s a commodity service. Why should I invest in marketing to promote my new exchange? As a customer: Why should I buy tokens? - Most of existing tokens have not active project behind - Many times the token is useless for the project and it will not increase in value if project succeed (just see ZRX token. It’s down -76% from 52wk high while your team is working actively on the project. Why investors have to buy tokens?
- tomhschmidt 7y ago
  If you want to list the same assets as everyone else with the same interface in the same markets, then yes, it's hard to compete. However, we see a world of tokenized assets coming online that will need unique markets for exchange. Something like Radar Relay (https://radarrelay.com/ https://radarrelay.com/ for ERC-20 commodities) is totally different from Veil (https://veil.co/ https://veil.co/ for prediction market shares) is totally different from BoxSwap (https://boxswap.io/ https://boxswap.io/ for trading collectibles). Even within ERC-20 commodities exchange, there are many different models of exchange within different markets that are sufficiently differentiated. We think of 0x more like Stripe: an under-the-hood technology that allows entrepreneurs to move more quickly and easily add exchange to their product. The concept of "tokens" and "exchange" will become very abstract in the near future.
  - toomuchtodo 7y ago
    > We think of 0x more like Stripe: an under-the-hood technology that allows entrepreneurs to move more quickly and easily add exchange to their product. One’s velocity should always be slightly less than their SEC defense attorney. If you're legit, take the time to make sure your paperwork is legit. https://news.ycombinator.com/item?id=18185701 https://news.ycombinator.com/item?id=18185701 (Top comment by Animats should draw your attention)
    - amingilani 7y ago
      Launch Kit is not an ICO or promoter, it's a platform for crypto exchanges. Could you elaborate why you're referring to a comment detailing the SEC going after ICO scams?
mgraczyk 7y ago
When 0x was conceived, there were far fewer crytocurrency exchanges than there are today. It aimed to solve a real problem that still exists in some ways. Since 0x is a blockchain project, it has moved at a snail's pace compared to the multitude of centralized and web-based "decentralized" exchanges that have sprung up since. These newer exchanges have largely solved the needs identified by 0x.
- deleted 7y ago
  [deleted]
- nostrademons 7y ago
  There's still a big problem with many of the centralized exchanges that have sprung up: a bunch of them are exit-scamming, or otherwise have had incidents that make your funds inaccessible. That's the reason to do this on the blockchain: you don't need to trust that the exchange operators will keep your funds safe, because they don't have your funds.
  - homakov 7y ago
    An even better solution is to transform exchanges into channel hubs, and settle trades instantly without ever touching blockchain. I.e. trade dynamic remains the same, but now each party holds a balance proof and redeemable onchain collateral.
monkeydust 7y ago
Looks interesting will give it a whirl. At work we have semi-jokingly been discussing idea of a internal currency as a mechanism of getting one team to do work for another when there is no obvious mutual benefit for said work. Its increasingly becoming an issue for us.
- nradov 7y ago
  Chargebacks have been used since forever in corporate accounting systems for that purpose. They work fine, no cryptocurrency or exchange needed.
  - willio58 7y ago
    Hmm I think the whole point of using cryptocurrency is to not use actual dollars to incentivize work between parts of the company. Maybe you could use it to negotiate a promotion within a company, etc.
    - nradov 7y ago
      There's no point to using cryptocurrency for that. Regular dollars work just fine. It's just entries in an internal corporate accounting system.
patricklorio 7y ago
Given the limitations of 0x, I never thought of it as a good protocol for real-time exchanges (ie Coinbase Pro). For me, it's always fit more into a decentralized Over the Counter (OTC) trading alternative.
- tudorconstantin 7y ago
  The speed of execution limitation is not because of 0x, but because of how fast a tx can be registered on the block chain. It can't compete (they say for now) at settlement speed with a high performance centralized exchange. But you have to trust those centralized exchanges with your funds. While with 0x you don't have to. One could say centralized exchanges can't compete on trustlesness with decentralized ones.
  - holler 7y ago
    > But you have to trust those centralized exchanges with your funds Why should I trust a decentralized exchange more than a centralized one as an average citizen of the world?
  - patricklorio 7y ago
    I completely agree. Until the blockchain can confirm transactions at lower latency I don't think the 0x protocol can provide a stand in replacement for a centralized exchange. I'm currently working on a project that goes about settlement a different way so trades can be confirmed instantly given a little trust. If you're curious, here's some details on how it works https://merklex.io/blog/decentralized-clearing-network/ https://merklex.io/blog/decentralized-clearing-network/
hhorsley 7y ago
Incredibly cool
deepspace 7y ago
Does the Pro version come with a free fake-your-death-in-india package?
- Legogris 7y ago
  OP is referring to the curious death of the founder of QuadrigaCX who supposedly was the only one with the keys to cold storage. This does not apply to 0x-based exchanges at all - it's a nuncustodial solution, meaning you can put orders without depositing coins and ensure they are only transferred out of your wallet as part of a correctly executed trade, atomically.
- xrd 7y ago
  I'm not surprised you are getting downvoted but that's pretty funny.
  - deepspace 7y ago
    My fault for failing to remember how thin-skinned crypto enthusiasts are. Have never met one with a sense of humor.
    - bdcravens 7y ago
      No, in general HN isn't a place for Reddit-style humor. Comments that aren't adding value the discussion should be voted down.
thehazard 7y ago
0x is seriously the best project in the crypto space right now.
- iqihs 7y ago
  Do you have any specific reasons why? Looks like astroturfing.
- 34r45sdg 7y ago
  you mis-spelled 'bitcoin'. Yes, bitcoin is the best project in crypto space right now, everything else is a scam
- TylerE 7y ago
  What’s the bar for that? Not having actually scammed anyone elsewhere? Crypto is a sewage dump.
raidicy 7y ago
All demos crash Chrome Dev Version 76.0.3800.2 (Official Build) dev (64-bit)
vasilipupkin 7y ago
great product from technical point of view, no product/market fit.
joosters 7y ago
How does this manage to connect the real world to a blockchain? The fundamental problem with the promises of insurance/bonds/stocks/whatever on a blockchain is that it doesn't matter what the blockchain says, people's real-world actions aren't tied to it, so it's not trustless. And so the blockchain part is pointless. Only if all the related elements are all virtual and on the blockchain can it do anything - so we're stuck with gambling and cryptokitties for real world usage.
- dangero 7y ago
  Another related issue is that tokens are bearer instruments controlled by whoever holds the right private keys. Most investments regulated in the US cannot legally be bearer instruments. This means there must be a ledger listing who owns what with real names attached. For public companies they must use a registered transfer agent to keep these ownership records. Private companies can keep their own records, but in most cases cannot use bearer instruments. What happens if I transfer you the token if there is a master ownership ledger with names and addresses? Nothing happens. The token record becomes out of sync with reality is the only thing that happens.
  - homakov 7y ago
    Isn't onchain here a transfer agent? Bearer is more appliable to cash, because it's physical. A token movement is still recorded onchain, i.e. there is a set of transfer agents and consensus among them. It can be tuned to support some regulation.
    - dangero 7y ago
      Bearer has nothing to do with physicality. Anything controlled by a private key is a bearer instrument by definition because the person bearing the private key has custody of the asset. You're making up your own definition of transfer agent, not the one used by the SEC. They have specific requirements and responsibilities.
      - 7y ago
afro88 7y ago
Forgive the potentially dumb question but I'm pretty green in the crypto and finance spaces. What's the business value here? As in, why has this been funded so heavily? Does 0x take a cut of all trades on 0x powered exchanges and marketplaces? Or is the data that holds the value?
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progval 7y ago
This website takes 50 seconds to load on a modern laptop with an ADSL connection. 7 seconds once it's cached.
homakov 7y ago
Are orders settled onchain? If so, this is too expensive/not scalable. I'm looking forward channel/HTLC based exchanges.
- willwarren89 7y ago
  Yes, trades are settled onchain. Too expensive for who? 0x protocol allows you trade digital assets with anyone in the world, trustlessly, through the internet, for $0.10-$0.25 per trade. While this isn't perfect for all use cases, it is an incredibly powerful capability. Scaling is indeed a limitation for decentralized networks. You can learn more about our scaling R&D efforts here: https://blog.0xproject.com/0x-roadmap-2019-part-2-scalability-r-d-c0fc2d5101e5 https://blog.0xproject.com/0x-roadmap-2019-part-2-scalabilit...
  - homakov 7y ago
    It's $0.10 until it isn't. Average crypto exchange has hundreds of automated tx per second, once it is attempted onchain the fees go up. Atomic swaps onchain are good for large amounts and rare trades, but not for retail traders.
LAMike 7y ago
The next Fortnite could sell VBucks through an exchange like this
Lowkeyloki 7y ago
Fake news! I was hoping for a kit to help me launch oxen. Anybody got links for trebuchet designs?

387 points by tomhschmidt 7y ago

tomhschmidt 7y ago

Tom from 0x here. Happy to answer any questions about Launch Kit or 0x more broadly!

v64 7y ago
Been following the 0x project for a while, just want to say this is an amazing project that demonstrates the power and potential of smart contracts and decentralized finance. Keep up the good work!
bananocurrency 7y ago
Is there a bug bounty on this?
- tomhschmidt 7y ago
  There's a bounty on the 0x smart contracts, but not on this sample exchange codebase https://blog.0xproject.com/the-0x-v2-bug-bounty-f8981f322dd7 https://blog.0xproject.com/the-0x-v2-bug-bounty-f8981f322dd7
- blunte 7y ago
  The real bug bounty is for someone to exercise a flaw and steal from others :/. A dapp of any sufficient complexity will have bugs, some of which can probably be exercised to steal funds.
flyGuyOnTheSly 7y ago
How do you overcome the inevitable "I don't trust an exchange that was launched within minutes by an amateur" stigma?
- deleted 7y ago
  [deleted]
- tomhschmidt 7y ago
  You don't have to trust! 0x Exchanges are non-custodial -- you hold onto your funds and atomically execute trades through the 0x smart contracts, which are open source and audited. https://www.youtube.com/watch?v=WSxphhWcLxk https://www.youtube.com/watch?v=WSxphhWcLxk
  - flyGuyOnTheSly 7y ago
    So ultimately the users have to trust the smart contracts then, yes?
    - polezo 7y ago
      Or they can verify them themselves since it's all open source. And for the less technically inclined there's also 3rd party audits and an active bug bounty. Point being, everything is open and transparent, and none of it happens behind the scenes, so that's where the "trustless" comes in. While yes, that word is overused and misunderstood, and regular users still admittedly do put trust in open source code on a public network, it's a much more open system than we've been able to have before. The trust users depend on in this instance doesn't rely on faith in any single entity to tell you what's changed in their private DB behind the scenes, you can verify it for yourself.
    - profalseidol 7y ago
      Remember that the smart contract is committed to the blockchain and can never be changed. Just like when you push your code to a git repo. It's guaranteed immutable, tamper proof. Data side is handled by appending to the blockchain as well. But this doesn't mean it's bug-free. You have essentially a tamper proof Database with Stored Procedures that doesn't need DBAs. I imagine it as a giant growing BitTorrent file that is maintained (and rewarded) by many computers worldwide. Any tampering to this file, it's immediately detected via hashing (just like in BitTorrent). The only way to break this is by branching out like you do in git. But in Blockchain, you will have to convince those computers to maintain your fork. And on this note, a Blockchain is technically not controlled by 1 entity, it is the choice of every individual blockchain maintainers (aka miners).
turtlecloud 7y ago
how will you guys compete against binance?
dmos62 7y ago
Hi Tom! After reading the Why page, I still don't have a concrete notion of what this is. So I'll jab a few questions that might help me make some sense: First question is about decentralization. What is off-chain relay in this case? Is that a centralized part of the system? Are there centralized parts of the system? Can this be used to implement more robust margin trading? To my knowledge, only centralized exchanges/brokers currently exist for margin trading. What settlement speeds can be expected? That's it for the questions. I don't want to retract from them, but I'll mention that the site doesn't work well with Dark Reader: all theme generation modes, except static, render most of the text invisible.
- tomhschmidt 7y ago
  Great questions! First question is about decentralization. What is off-chain relay in this case? Is that a centralized part of the system? Are there centralized parts of the system? Off-chain relay is how parties find each other facilitate a trade. As a maker, I can create an order off-chain, but I still need to find a relevant taker who is interested in filling the order by sending it to the 0x smart contracts on-chain. Relayers pool together these off-chain orders and serve them up through a website, so that it's easy to find people to trade with. Note that this process is optional -- you can still trade peer-to-peer if I send you the order over email, SMS, etc. While relaying is centralized, relayers are non-custodial, so your funds are never at risk. We also have plans to make some parts of relaying less centralized in the future through 0x Mesh: https://blog.0xproject.com/0x-roadmap-2019-part-3-networked-liquidity-0x-mesh-9a24026202b3 https://blog.0xproject.com/0x-roadmap-2019-part-3-networked-... Can this be used to implement more robust margin trading? As for margin trading, yes, you can trade dY/dX tokens on 0x relayers, or combine 0x orders with any on-chain lending protocol such as Dharma or MakerDAO to get leverage. What settlement speeds can be expected? All trades currently settle on-chain, so the Ethereum block time is our bottleneck. Look for some updates on this near future :)
  - Legogris 7y ago
    To expand on this - a middle ground between the centralized exchanges dominating today and the (relatively) slow and expensive ones on the Ethereum mainnet would be a sidechain using a different physical topology and consensus model. Some examples that have been gaining buzz recently (these are just examples, there are alternatives to each) if you want to read up and grok the statr of implementation and thoughts today: Plasma chains, PoA Networks xDAI, SKALE, PegaSys.
stcredzero 7y ago
Could I use this to launch an exchange for crypto derivatives?
- feuGene 7y ago
  Sure. If you create an Ethereum-compatible token that represents the crypto derivative you have in mind, then you can indeed use this to launch an exchange for that token.
deleted 7y ago
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johnmarcus 7y ago
I think i see what you are doing here while others are missing the point. If there is an open source ui, there is an open source api as well. My do-something-usefull-for-users app isn't going to launch a full exchange - but what I would implement is the api library allowing a user to exchange utility and $$ tokens from one to another while staying in my app. ergo, the user benefit here is that the user only needs a Coinbase or like account to transfer dollars to tokens, and then the user can obtain other tokens within any particular app. The user doesn't need to sign up to yet-another-exchange-with-my-personal-data-and-who-are-these-people-anyway-and-do-they-have-the-tokens-i-use-etc,etc. Now the user can readily take tokens not in use on one platform and transfer them to a token of another platform, all without leaving the platform specific application. That's a big win for the ecosystem. I can see why you built the slick ui to demo your product, i think it's the right move because i can use it without a single line of code. I think the next challenge you will have is getting developers to adopt an underlying api client library. If I understand what you are doing correctly, perhaps build that client library in js to be used in react and a demo app that has reduced exchange funcationality for quickly swapping two tokens. it should look as simple as the interface for sending tokens to someone now. If I guessed all that right, the company i work for may be willing to be an early adaptor. Let me know. We certainly aren't going to build yet-another-exchange, but i think empowering a transfer of btc/eth/eos/xrp -> myLittleUtilityToken within app would be very powerful.
- tomhschmidt 7y ago
  Hi John -- sounds like you might be interested in 0x Instant, which lets you offer one-click token-to-token swapping on your website or inside your app. https://0x.org/instant https://0x.org/instant
rando444 7y ago
This question is open to anyone: I'm extremely curious what the business model here is. Who is paying for this to be created, and what do they get out of it in the long run?

gregorymichael 7y ago

Site looks great. Nice design.

detritus 7y ago

I'd perhaps add something like 'crypto' to the headline - I thought this was a marketplace for physical items, somehow - like a local goods exchange.

jldevops 7y ago
Agreed, just a small change, otherwise awesome to see something like this out there. Just curious, does anyone know of a kit like this for digital marketplaces for goods or services (not crypto)?
- stcredzero 7y ago
  Right. I thought this was for building an exchange for goods in general. That's what I thought was awesome.
- joshfraser 7y ago
  Yes! At Origin we built a Marketplace creator that allows you to create a decentralized marketplace for buying and selling anything in a matter of minutes. https:/www.originprotocol.com/creator
sctb 7y ago
OK, added. Thanks! We could also try “token”, which seems more precise in context although more ambiguous on its own.

dstick 7y ago

Is it pronounced “ox”, “zerox” or “zero x”? :)

CyrusL 7y ago
We pronounce 0x as “zero-ex,” but you are free to pronounce it however you please. https://0x.org/faq https://0x.org/faq
tomhschmidt 7y ago
We call it "Zero Ex"!
duncan-donuts 7y ago
In the disclaimer it lists a company as ZeroEx Intl, so I’d guess the last example

steveharman 7y ago

Does the planet _really_ need any more crypto exchanges? Hardly a week goes by without a couple of new ones starting. Surely we must have more than enough by now?

jandrese 7y ago
Hardly a week goes by without one folding due to hacking, mismanagement, or outright criminal activity. Seems like they need someone to keep up the churn or they might run low.
- joosters 7y ago
  Yes! Once I've exit-scammed, I need to start my next exchange ASAP. If this toolkit could spin up a new exchange with a randomly-generated theme, that would be great, thanks!
  - aakilfernandes 7y ago
    0x is a decentralized, non-custodial exchange protocol. The UI could have malware though, which is why it makes sense for various relayers to have a single UI.
- Quekid5 7y ago
  So, no. The answer is no. EDIT: it's absurd that people continue to fall for this nonsense, but here we are, I guess.
- woah 7y ago
  You can’t steal the tokens if you are running a 0x exchange.
  - TeMPOraL 7y ago
    Hold my beer.
  - village-idiot 7y ago

throwaway2016a 7y ago

This looks great but I'm not sure if the title is accurate. For most of the world the barrier to running an exchange is four fold: 1. Technology 2. Regulatory 3. Trust 4. Critical mass This looks like it only address 1. Which is certainly a big hurdle but I would have loved to seen something explaining how to get 2 - 4 done. From some of the answers bellow: > You don't have to trust! 0x Exchanges are non-custodial That's great. There should be a writeup on that front and center of the how and why.

munificent 7y ago
I think you forgot: 0. Doesn't actually solve any real problem for actual humans in the first place.
- v64 7y ago
  I disagree with the point, but for the sake of argument, why is this a negative? Large portions of pure mathematics would be deemed irrelevant by this standard. Blockchains and smart contracts are still a burgeoning technology, and projects like this demonstrate what is possible in a tangible way. Perhaps this particular project has no use that you can foresee, but it's the foundation upon which future projects of worth will be built.
  - banachtarski 7y ago
    I love pure mathematics but I don't quite agree that all the blockchain stuff falls in the same vein at all. There is no "science" here. No positing of a theory that explains what happens when X happens. After the original paper which largely built on ideas that already existed, I don't believe the field of consensus protocol has been greatly enhanced by the crypto fad. In fact, almost all products, papers, and developments have been for the express purpose of commercializing a product. Math does not purport to be "market-ready." It's foundational, and honestly, it still does need to be used in the sense that the measure of a good theory is it's applicability to actual problems (although sometimes, the problem itself isn't always easy to grasp).

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leoplct 7y ago

Why should I launch an exchange when there are already hundreds of existing exchange? As a entrepreneur: Exchange services is very difficult to differentiate. It’s a commodity service. Why should I invest in marketing to promote my new exchange? As a customer: Why should I buy tokens? - Most of existing tokens have not active project behind - Many times the token is useless for the project and it will not increase in value if project succeed (just see ZRX token. It’s down -76% from 52wk high while your team is working actively on the project. Why investors have to buy tokens?

tomhschmidt 7y ago
If you want to list the same assets as everyone else with the same interface in the same markets, then yes, it's hard to compete. However, we see a world of tokenized assets coming online that will need unique markets for exchange. Something like Radar Relay (https://radarrelay.com/ https://radarrelay.com/ for ERC-20 commodities) is totally different from Veil (https://veil.co/ https://veil.co/ for prediction market shares) is totally different from BoxSwap (https://boxswap.io/ https://boxswap.io/ for trading collectibles). Even within ERC-20 commodities exchange, there are many different models of exchange within different markets that are sufficiently differentiated. We think of 0x more like Stripe: an under-the-hood technology that allows entrepreneurs to move more quickly and easily add exchange to their product. The concept of "tokens" and "exchange" will become very abstract in the near future.
- toomuchtodo 7y ago
  > We think of 0x more like Stripe: an under-the-hood technology that allows entrepreneurs to move more quickly and easily add exchange to their product. One’s velocity should always be slightly less than their SEC defense attorney. If you're legit, take the time to make sure your paperwork is legit. https://news.ycombinator.com/item?id=18185701 https://news.ycombinator.com/item?id=18185701 (Top comment by Animats should draw your attention)
  - amingilani 7y ago
    Launch Kit is not an ICO or promoter, it's a platform for crypto exchanges. Could you elaborate why you're referring to a comment detailing the SEC going after ICO scams?

mgraczyk 7y ago

When 0x was conceived, there were far fewer crytocurrency exchanges than there are today. It aimed to solve a real problem that still exists in some ways. Since 0x is a blockchain project, it has moved at a snail's pace compared to the multitude of centralized and web-based "decentralized" exchanges that have sprung up since. These newer exchanges have largely solved the needs identified by 0x.

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nostrademons 7y ago
There's still a big problem with many of the centralized exchanges that have sprung up: a bunch of them are exit-scamming, or otherwise have had incidents that make your funds inaccessible. That's the reason to do this on the blockchain: you don't need to trust that the exchange operators will keep your funds safe, because they don't have your funds.
- homakov 7y ago
  An even better solution is to transform exchanges into channel hubs, and settle trades instantly without ever touching blockchain. I.e. trade dynamic remains the same, but now each party holds a balance proof and redeemable onchain collateral.

monkeydust 7y ago

Looks interesting will give it a whirl. At work we have semi-jokingly been discussing idea of a internal currency as a mechanism of getting one team to do work for another when there is no obvious mutual benefit for said work. Its increasingly becoming an issue for us.

nradov 7y ago
Chargebacks have been used since forever in corporate accounting systems for that purpose. They work fine, no cryptocurrency or exchange needed.
- willio58 7y ago
  Hmm I think the whole point of using cryptocurrency is to not use actual dollars to incentivize work between parts of the company. Maybe you could use it to negotiate a promotion within a company, etc.
  - nradov 7y ago
    There's no point to using cryptocurrency for that. Regular dollars work just fine. It's just entries in an internal corporate accounting system.

patricklorio 7y ago

Given the limitations of 0x, I never thought of it as a good protocol for real-time exchanges (ie Coinbase Pro). For me, it's always fit more into a decentralized Over the Counter (OTC) trading alternative.

tudorconstantin 7y ago
The speed of execution limitation is not because of 0x, but because of how fast a tx can be registered on the block chain. It can't compete (they say for now) at settlement speed with a high performance centralized exchange. But you have to trust those centralized exchanges with your funds. While with 0x you don't have to. One could say centralized exchanges can't compete on trustlesness with decentralized ones.
- holler 7y ago
  > But you have to trust those centralized exchanges with your funds Why should I trust a decentralized exchange more than a centralized one as an average citizen of the world?
- patricklorio 7y ago
  I completely agree. Until the blockchain can confirm transactions at lower latency I don't think the 0x protocol can provide a stand in replacement for a centralized exchange. I'm currently working on a project that goes about settlement a different way so trades can be confirmed instantly given a little trust. If you're curious, here's some details on how it works https://merklex.io/blog/decentralized-clearing-network/ https://merklex.io/blog/decentralized-clearing-network/

hhorsley 7y ago

Incredibly cool

deepspace 7y ago

Does the Pro version come with a free fake-your-death-in-india package?

Legogris 7y ago
OP is referring to the curious death of the founder of QuadrigaCX who supposedly was the only one with the keys to cold storage. This does not apply to 0x-based exchanges at all - it's a nuncustodial solution, meaning you can put orders without depositing coins and ensure they are only transferred out of your wallet as part of a correctly executed trade, atomically.
xrd 7y ago
I'm not surprised you are getting downvoted but that's pretty funny.
- deepspace 7y ago
  My fault for failing to remember how thin-skinned crypto enthusiasts are. Have never met one with a sense of humor.
  - bdcravens 7y ago
    No, in general HN isn't a place for Reddit-style humor. Comments that aren't adding value the discussion should be voted down.

thehazard 7y ago

0x is seriously the best project in the crypto space right now.

iqihs 7y ago
Do you have any specific reasons why? Looks like astroturfing.
34r45sdg 7y ago
you mis-spelled 'bitcoin'. Yes, bitcoin is the best project in crypto space right now, everything else is a scam
TylerE 7y ago
What’s the bar for that? Not having actually scammed anyone elsewhere? Crypto is a sewage dump.

raidicy 7y ago

All demos crash Chrome Dev Version 76.0.3800.2 (Official Build) dev (64-bit)

vasilipupkin 7y ago

great product from technical point of view, no product/market fit.

joosters 7y ago

How does this manage to connect the real world to a blockchain? The fundamental problem with the promises of insurance/bonds/stocks/whatever on a blockchain is that it doesn't matter what the blockchain says, people's real-world actions aren't tied to it, so it's not trustless. And so the blockchain part is pointless. Only if all the related elements are all virtual and on the blockchain can it do anything - so we're stuck with gambling and cryptokitties for real world usage.

dangero 7y ago
Another related issue is that tokens are bearer instruments controlled by whoever holds the right private keys. Most investments regulated in the US cannot legally be bearer instruments. This means there must be a ledger listing who owns what with real names attached. For public companies they must use a registered transfer agent to keep these ownership records. Private companies can keep their own records, but in most cases cannot use bearer instruments. What happens if I transfer you the token if there is a master ownership ledger with names and addresses? Nothing happens. The token record becomes out of sync with reality is the only thing that happens.
- homakov 7y ago
  Isn't onchain here a transfer agent? Bearer is more appliable to cash, because it's physical. A token movement is still recorded onchain, i.e. there is a set of transfer agents and consensus among them. It can be tuned to support some regulation.
  - dangero 7y ago
    Bearer has nothing to do with physicality. Anything controlled by a private key is a bearer instrument by definition because the person bearing the private key has custody of the asset. You're making up your own definition of transfer agent, not the one used by the SEC. They have specific requirements and responsibilities.
    - 7y ago

afro88 7y ago

Forgive the potentially dumb question but I'm pretty green in the crypto and finance spaces. What's the business value here? As in, why has this been funded so heavily? Does 0x take a cut of all trades on 0x powered exchanges and marketplaces? Or is the data that holds the value?

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progval 7y ago

This website takes 50 seconds to load on a modern laptop with an ADSL connection. 7 seconds once it's cached.

homakov 7y ago

Are orders settled onchain? If so, this is too expensive/not scalable. I'm looking forward channel/HTLC based exchanges.

willwarren89 7y ago
Yes, trades are settled onchain. Too expensive for who? 0x protocol allows you trade digital assets with anyone in the world, trustlessly, through the internet, for $0.10-$0.25 per trade. While this isn't perfect for all use cases, it is an incredibly powerful capability. Scaling is indeed a limitation for decentralized networks. You can learn more about our scaling R&D efforts here: https://blog.0xproject.com/0x-roadmap-2019-part-2-scalability-r-d-c0fc2d5101e5 https://blog.0xproject.com/0x-roadmap-2019-part-2-scalabilit...
- homakov 7y ago
  It's $0.10 until it isn't. Average crypto exchange has hundreds of automated tx per second, once it is attempted onchain the fees go up. Atomic swaps onchain are good for large amounts and rare trades, but not for retail traders.

LAMike 7y ago

The next Fortnite could sell VBucks through an exchange like this

Lowkeyloki 7y ago

Fake news! I was hoping for a kit to help me launch oxen. Anybody got links for trebuchet designs?