Types of 0x orders

There are 2 types of 0x orders:

1. Point-to-point orders
   Two participants (maker and taker) can exchange their tokens directly using any form of communication method. In order to use point-to-point order, a maker needs to know who they will exchange their tokens with, so the order must specify a taker’s address and trades will only be executed by that taker’s address. As a result, orders cannot be filled by other takers.
   
   
   Reference: 0x whitepaper
   
   
2. Broadcast orders
   This is the most common form of exchange orders and also an effective way to increase liquidity in the network. Here, the maker does not need to specify a taker’s address in order to be filled. As an alternative, public order books are needed where makers can submit their orders and allow any takers to fill these orders. 0x protocol allows any users to host and maintain the public-order books in return for a small fee for their services. These users are called “relayers”. In this case, relayers do not execute any trades; they are simply signaling orders between makers and takers.

Reference: 0x whitepaper

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