What is the 0x protocol base?

Could you elaborate on the fundamentals of the 0x protocol? As a professional practitioner in the realm of cryptocurrency and finance, I'm interested in understanding its core components and how they contribute to its overall functionality. Specifically, I'm curious about the technological backbone that drives this decentralized exchange platform. What are the key technologies and principles that constitute the 0x protocol base? How does it facilitate the peer-to-peer exchange of assets on the Ethereum blockchain? Any insights you could provide would be greatly appreciated.