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Loopring

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Description

What does Loopring do?

Loopring has created a decentralized exchange protocol that allowing its users to trade assets on different blockchains. Since the project is not a DEX, but rather a protocol, it provides traders with improved security and better liquidity.

The network brings together peers that can settle transactions amongst each other. Loopring is not a single DEX. Users contribute to the Loopring exchange network, helping to match and settle orders, by running the Loopring software. These contributors are known as ring miners. They are rewarded in LRC for their work.

Loopring does not require traders to deposit funds, like exchanges usually do. Instead, funds stay in the user’s wallet until the moment a trade is settled. Orders are placed and signed using users’ private keys. Loopring can verify orders and settle trades while keeping all order management off-chain.

Loopring is also compatible with any blockchain that has smart contract capabilities, which gives Loopring increased liquidity through reaching more users.

What is LRC used for?

LRC has two primary use cases: to pay for fees and to reward ring miners. There are transaction fees required with running smart contracts, sending LRC, and placing orders. A trader sets aside a number of LRC tokens they are willing to pay to a miner.

When a ring miner matches a transaction, they can either take the LRC tokens which are included in the transaction as a fee, or they can claim a margin of the profit. If they choose the latter, then the ring miner must pay the user a fee that is equal to the amount the user was willing to pay the miner.  

How can LRC appreciate in value?

It is always important to consider both the supply of a coin as well as the potential demand from its target market. With over one billion tokens, the total supply of Loopring is quite large. However, the global trading industry is worth well over $1,000,000,000. As a result, it is very likely that LRC can appreciate in value if it gains any sort of mainstream adoption as a global trading solution. Also keep in mind that Loopring can also be integrated with existing DEX’s and traditional exchanges to source for more liquidity.

What are the differences between Loopring and its competitors?

There are not many cryptocurrency projects doing what Loopring does, but 0x could be considered Loopring’s closest competitor. Both 0x and Loopring offer off-chain order management and on-chain atomic swaps. One major upside to Loopring is its multi-directional order matching solution which can optimize trading price and speed. 0x also does not connect with exchanges, which may allow Loopring to provide better liquidity.

  • Mainnet Launch: Not yet.
  • Open Source: Yes
  • Consensus Type: Not specified.
  • Technology: Blockchain
  • Total Coin Supply: 1,374,956,262 LRC 139,507,605 LRN
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Description

What does Loopring do?

Loopring has created a decentralized exchange protocol that allowing its users to trade assets on different blockchains. Since the project is not a DEX, but rather a protocol, it provides traders with improved security and better liquidity.

The network brings together peers that can settle transactions amongst each other. Loopring is not a single DEX. Users contribute to the Loopring exchange network, helping to match and settle orders, by running the Loopring software. These contributors are known as ring miners. They are rewarded in LRC for their work.

Loopring does not require traders to deposit funds, like exchanges usually do. Instead, funds stay in the user’s wallet until the moment a trade is settled. Orders are placed and signed using users’ private keys. Loopring can verify orders and settle trades while keeping all order management off-chain.

Loopring is also compatible with any blockchain that has smart contract capabilities, which gives Loopring increased liquidity through reaching more users.

What is LRC used for?

LRC has two primary use cases: to pay for fees and to reward ring miners. There are transaction fees required with running smart contracts, sending LRC, and placing orders. A trader sets aside a number of LRC tokens they are willing to pay to a miner.

When a ring miner matches a transaction, they can either take the LRC tokens which are included in the transaction as a fee, or they can claim a margin of the profit. If they choose the latter, then the ring miner must pay the user a fee that is equal to the amount the user was willing to pay the miner.  

How can LRC appreciate in value?

It is always important to consider both the supply of a coin as well as the potential demand from its target market. With over one billion tokens, the total supply of Loopring is quite large. However, the global trading industry is worth well over $1,000,000,000. As a result, it is very likely that LRC can appreciate in value if it gains any sort of mainstream adoption as a global trading solution. Also keep in mind that Loopring can also be integrated with existing DEX’s and traditional exchanges to source for more liquidity.

What are the differences between Loopring and its competitors?

There are not many cryptocurrency projects doing what Loopring does, but 0x could be considered Loopring’s closest competitor. Both 0x and Loopring offer off-chain order management and on-chain atomic swaps. One major upside to Loopring is its multi-directional order matching solution which can optimize trading price and speed. 0x also does not connect with exchanges, which may allow Loopring to provide better liquidity.

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