What Is Loopring.org?
Loopring.org LRC is the Ethereum-based cryptocurrency token of Loop ring, an open protocol designed for the building of decentralized crypto exchanges. In 2020, the average daily trading volume of the entire cryptocurrency market fluctuated in the approximate range of $50-$200 million. Most of that trading is conducted on centralized cryptocurrency exchanges — online platforms operated by private companies that store users’ funds and facilitate the matching of buy and sell orders.
Such platforms have a number of downsides common to all of them, so a new type of exchange — decentralized— has emerged to try to alleviate these disadvantages. However, fully decentralized exchanges are not without their own flaws. Loop ring’s purported goal is to combine centralized order matching with decentralized on-blockchain order settlement into a hybridized product that will take
Loopring Coin the best aspects of both centralized and decentralized exchanges. LRC tokens became available to the public during an initial coin offering (ICO) in August 2017, while the Loop ring protocol was first deployed on Ethereum magnet in December 2019
Loopring.org Storage Key Points
|Circulating Supply||1,222,785,255 LRC|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Loopring.org is an open-sourced, audited, and non-custodial exchange and payment protocol. Nobody in the ecosystem needs to trust others. rollup assures assets are always under users’ own control; 100% Ethereum-level security guarantees.
The powers highly scalable decentralized exchanges and payments by batch-processing thousands of requests off-chain, with verifiably correct execution via ZKPs. The performance of Ethereum is no longer the bottleneck.
Loopring Coin performs most operations, including trade and transfer settlement, off the Ethereum blockchain. This dramatically reduces gas consumption and overall transaction cost to small fractions of comparable on-chain cost.
They builds protocols, infrastructure, and user-facing products for the future of finance. they believe this future is built on Ethereum, and specifically on layer 2 (zkRollups). Users of decentralized finance (DeFi) need not choose between security and performance. provides a low-fee, high-speed platform for trading, swapping, liquidity providing, and payments – without sacrificing Ethereum security at all.
Loopring.org envision a digital economy where users are empowered and always in control of their assets. They have succeeded in proving that non-custodial technology can replicate custodial alternatives in speed, cost, and experience. They have made DEXes as performant as CEXes, and will outcompete incumbent fintech.
Solves scalability without compromising Ethereum security. the zkRollup throughput reaches approximately 1000x of Ethereum, or as high as 2,025 trades per second. The cost per transaction is reduced to as little as 1/100th the cost of Ethereum, with trades and transfers costing fractions of a cent. With they expect non-custodial exchanges and payment apps to continue outcompeting and displacing centralized ones.
Loopring Coin Ethereum has become so popular and heavily used, that it exists in a near-permanent state of congestion, where users face absurdly high fees and long delays. Layer 2 presents a less congested fast lane, where users transact gas-free and without delay, yet completely coupled to Ethereum security. From a user’s POV, it just works, with blockchain UX problems abstracted. performance is sufficient for algorithmic traders and market makers to deploy legacy-style, HFT strategies on DEXes for the first time.
Loopring.org protocol is an open source rollup protocol. It is a collection of Ethereum smart contracts and ZK circuits which describe how to build highly-secure, highly-scalable orderbook-based DEXes, AMMs, and payment apps. It was the first rollup protocol deployed on Ethereum, and has led the ecosystem into the era of Layer 2 scaling (L2). The current protocol version, v3.6, is our fifth deployed version (the first three were non-zkRollup). It provides a solution for the most outstanding challenge of all decentralized protocols – performance, or more precisely, much higher performance without a tradeoff in security.