Sats AndZero-Ex. WhatDo These Term Means In Cryptocurrencies?
Sats stands for Satoshis. It is a Bitcoin unit that is equal in value to 0.00000001 BTC. If you calculate it is one hundred million the of a Bitcoin value. TheSats is basically a price for Bitcoin.
You must have guessed by now that the name has been derived from the Bitcoin creator who is Satoshi Nakamoto.
It is important to understand Sats because it allows you to make transactions easier when you are using a fraction of the Bitcoin. Also, because it allows many of the coins to be brought with other cryptocurrencies.
TheSats is nothing but a term that describes a fraction of Bitcoin.
The other term that you have come across is Zero-ex. What is Zero-ex or 0x?
Zero-ex is a cryptocurrency platform and this platform is an exchange that is decentralized on the Ethereum Blockchain. The platform is an open source and it allows building the decentralized exchanges which let you use the tokens that are Ethereum based.
This platform is useful because it solves the major issue of a decentralized exchange and also charges no fee for that.
As of now the decentralized exchanges that are running only rely on Blockchainandthis attracts transaction fees on everything. There are fees towards the miner’s chain. Also, the decentralized exchanges are unable to interact with each other because they do not use a protocol that is standard.
Since the protocol that is used by 0x is single and the order book is off-chain so these means the problems are resolved. The idea that goes behind a decentralized exchange is to make sure that when the trade happens in a Blockchain. This is done to make sure that the funds are secure.
The 0x project
The project was funded with the aim of having a world where every asset is represented in the form of a token on the Ethereum Blockchain. This includes everything namely gold, silver, stocks or fiat currencies.
When this happens then this will lead to many tokens that need a trustless exchange method. Decentralised exchanges are popular but there still are many problems with them. 0x thus aims to have a single standard protocol that lets the Ethereum token to get traded and letting anyone operate a decentralized exchange.
0x OTC is a product, see this, that is consumer-facing and uses this protocol. It allows for peer-to-peer exchange.