0x (ZRX) Project Releases Impressive Monthly Development Update, Impresses Reddit Co-Founder
The 0xProject team has certainly been putting in the hours recently, as it works toward the release of the much-anticipated 0xProtocol v2, along with optimising their smart contracts for the imminent influx of ERC-721 non-fungible tokens.
Indeed, Thursday saw the senior engineer of the 0xProject, Brandon Millman, release an extensive development update that covered the month of February. The update, marking the sixth instalment in a monthly series that dates back to September, was far from disappointing, as Millman expanded on several February achievements related to the upcoming 0xProtocol v2.
The update also revealed how “0x has been helping the community arrive at an acceptable standard for Non-Fungible Tokens (NFTs).” A huge part of this contribution, Millman reports, has been their recent creation of an online resource hub made exclusively for the ERC-721 standard.
Indeed, when in its Beta version late last year, the non-fungible ERC-721 standard was responsible for wildly popular smart contract-based trading games like CryptoKitties and CryptoCelebrities, which infamously exposed the scalability issues of the Ethereum blockchain after the unprecedented success of the games proved difficult for the network to cope with.
The development update revealed significant progress for a number of promising projects that fall under the umbrella of the 0x ecosystem. However, there was no looking past the news out of DDEX (Decentralized Digital Exchange), the decentralised trading platform made exclusively for Ethereum-based tokens.
DDEX closed a $2.1M seed round led by no other than Initialized Capital, the San Francisco-based early stage venture capital firm. Initialized Capital is best known for being one of the earliest investors in Coinbase, having participated in a $0.6 million round of seed investment in September 2012. The San Francisco-based crypto brokerage has blossomed into a world-leader in the cryptocurrency space, operating two exchanges, and as of Wednesday, introduced the Coinbase Index (CBI).
Initialized Capital made headlines recently as they welcomed the full-time return of co-founder Alexis Ohanian, after the tech guru decided to step back from his day-to-day duties at Reddit, the web content aggregator which Ohanian co-founded in his early twenties.
Notably, Ohanian is also listed as an advisor to another initiative being built on top of the open order protocol 0x, the Hydro Protocol (HOT). In their whitepaper, Hydro is described as a “middleware layer on top of an incentive system for decentralised exchanges.”
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