ZRX, also known as 0x Protocol, is a decentralized exchange protocol built on the Ethereum blockchain. It allows for the peer-to-peer exchange of ERC-20 tokens without the need for a centralized intermediary. This means that users can trade tokens directly with each other, without having to trust a third party to hold their funds. The protocol is open-source, meaning that anyone can contribute to its development and use it to build their own decentralized applications.

One of the key features of 0x Protocol is its ability to support a wide range of decentralized exchanges, or DEXs. This means that users can choose from a variety of different DEXs, each with their own unique features and user interfaces. This allows for greater competition and innovation in the decentralized exchange space, which ultimately benefits users by providing them with more options and better prices. Overall, 0x Protocol is a promising project that has the potential to revolutionize the way that we trade cryptocurrencies and other digital assets.