{"id":843,"date":"2021-06-21T21:18:33","date_gmt":"2021-06-21T21:18:33","guid":{"rendered":"https:\/\/deficoins.io\/?page_id=843"},"modified":"2021-06-21T21:23:37","modified_gmt":"2021-06-21T21:23:37","slug":"loopring-review","status":"publish","type":"page","link":"https:\/\/deficoins.io\/review\/loopring","title":{"rendered":"Loopring Review: Learn All About LRC With This Extensive Guide"},"content":{"rendered":"
The challenge of having more transparent, lower fees in DeFi<\/a> has always been a thorn for users. Also, it’s been hard to find reliable protocols to trust and depend on for seamless investments.<\/p>\n The need for a lasting solution to these challenges is a major \u2018push\u2019 behind the unceasing emergence of new projects and their native tokens. One of such projects that is a step ahead of the rest is the Loopring.<\/p>\n The Loopring exchange is a leading non-custodial platform for trading crypto. It is an Ethereum built protocol that offers lower gas fees, high throughput, and order book exchanges and is super secure. The project aims to streamline the building of DEX and ensures that assets are easily exchanged among many possible platforms.<\/p>\n This article reviews Loopring. It contains the information that will assist beginners or anyone curious to know about the protocol.<\/p>\n This Loopring review also explains the technology, the founders, and team members of the project. It also contains the analysis and prospects of the Loopring token.<\/p>\n Contents<\/p> Loopring is not a DEX itself. It is a DeFi protocol operating on the Ethereum blockchain. It facilitates DEXs using ring-sharing and order matching technologies. Loopring allows for a cross-exchange of assets among various exchanges.<\/p>\n In a nutshell, Loopring helps developers build a non-custodial order book with high throughput on Ethereum using ‘zero-knowledge proofs.’<\/p>\n Loopring doesn’t just stand like another DEX. It pools orders from all possible exchanges and fills them. This process is done by matching these orders with order books from all other exchanges participating in the Loopring platform.<\/p>\n The protocol ensures its exchanges can offer faster settlements for all trades. The trades are confirmed elsewhere using zkRollups and not on the ETH Blockchain like other DEXs.<\/p>\n Loopring makes use of multiple cryptos in addition to its native crypto LRC. It allows both centralized and decentralized exchanges to partake in the Loopring platform.<\/p>\n With this, all exchanges can access increased liquidity from as many blockchains as possible. It allows investors to get the best price without the need to compare with different exchanges.<\/p>\n The Loopring platform allows the integration of other smart contract platforms like NEO and Ethereum, which are already integrated. The project team planned to integrate more platforms after their development project on the \u2018core of the Loopring DEX’.<\/p>\n The Loopring Foundation launched the LRC token during their ICO (initial coin offering) around August 2017. They further deployed the protocol itself on the Ethereum mainnet in 2019 December.<\/p>\n Loopring, with its unique features, wants to improve in the areas where the Centralized exchanges are seen to be lacking. Those areas include;<\/p>\n Security: The crypto assets of users are open to security risk as their private keys remain with the exchange authorities of the centralized exchange. This can result in well-documented and frequent attacks to hack the server storing millions of funds in USD. \u00a0Looping aims to reduce this risk by returning the control over the assets to the users by depositing them in the centralized exchanges.<\/p>\n Transparency: Users of centralized exchanges are also facing transparency risks. Every exchange cannot always be honest concerning asset freezes, bankruptcy, and potential shutdown, etc.<\/p>\n Some exchanges are less transparent in lending user’s assets to unauthorized parties or even using them while in their custody. Loopring wants to settle this challenge by eliminating the custody. The users no longer need to move their tokens for custody to ‘exchange based’ wallets.<\/p>\n Loopring ensures that the user’s tokens remain in their blockchain address as the trading transactions are processed. It discourages conditions where users can’t get access (locked out) to their assets. Instead, it allows them to transfer tokens once their order submission is complete. It also takes care of automatically changing the number of orders during settlements.<\/p>\n Liquidity: The process of liquidating dividends in centralized exchanges makes it difficult for new exchanges to enter the market. Exchanges possessing the highest trading pair will record more traffic as users will always choose them. They are seen everywhere on a platform compared to competitors.<\/p>\n Also, exchanges with larger ‘order books’ are more favored for the trading pairs offered due to ‘bid-ask spreads. The Loopring aims at initiating competition to disrupt the preferential selection existing in the market. It wants to share division via offering an ‘open sourced’ solution to favor broader participation.<\/p>\n More so, Loopring with its software allows any decentralized exchange to be independent and join the decentralized exchange network for liquidity sharing with others.<\/p>\n The present CEO and founder of Loopring Foundation are Daniel Wang. He is an entrepreneur, and a software engineer who currently resides in Shanghai, China. He is a computer scientist with a bachelor\u2019s degree from the Science & Technology University in China. Daniel also holds a master’s degree in computer science at Arizona State University.<\/p>\n He initially established a crypto service firm, Coin Port Technology Limited, around 2014. Daniel, during that period, was not happy with the challenges associated with the decentralized model and attempted to offer a solution. Though he concluded that these problems are unsolvable as they are inherent, he then insisted on developing the Looping network with his team.<\/p>\n Daniel has held several executives and managerial positions in reputable technological companies. He was the vice president and co-founder of Yunrang and the formal technical lead and software engineer at Google. Daniel Wang has also worked as the senior director of Engr recommendation, and search and ads system with the e-commerce giant in China. The members of his team are Johnston Chen and Jay Zhou.<\/p>\n Jay Zhou is the CMO of Loopring. He is among the key founders of SJ consulting and has worked with PayPal at the Risk Operation Unit. Jay Zhou was previously an employee of Ernst & Young. Johnston Chen is the COO of the team. He acquired a lot of experience during his engagement with reputable companies like 3NOD and Ernst & Young.<\/p>\n Steve Gou is another core member of the team, the Loopring CTO. He assists Brecht Devos, the Chief Architect of the project.<\/p>\n The Loopring team developed another project in addition to Loopring. This is known as the \u2018Loopring Ecosystem Advancement Fund’ LEAF. The LEAF was developed to aid investments in blockchain technologies and give rewards to people who contributed to the project. Loopring has competitors such as the 0x and the Kyber Network, but the Loopring team proclaims that they are meant for different uses.<\/p>\n Kyber\u2019s ‘market-making protocol gives liquidity at a set price with a specific timeframe. This is unlike Loopring, which relies on its ring order and matching tech in powering its 3rd<\/sup> party MAAS (matching-as-a-service) system.<\/p>\n Similarly, the 0x gets its liquidity sourced from existing exchanges on its network. But the Loopring does the same from any connected exchange in its network. However, the Loopring protocol has deployed the ZKR (zero-knowledge rollups).<\/p>\n It is a version of guaranteed ‘Rollups’ that are more personalized. The foundation claimed it could process more than 2,000 transactions in a second. The Loopring has its own currency LRC and supports several other cryptos.<\/p>\nWhat Is Loopring?<\/span><\/h2>\n
The Aim of Loopring (LRC)<\/span><\/h2>\n
History of Loopring<\/span><\/h2>\n
Loopring Ecosystem<\/span><\/h2>\n