Loopring

Loopring Review

When investing in virtual currency, you need to do your research. We provide you with reviews of each world top cryptocurrency out there, so that you can find the best crypto coins to invest in for you. This is a review of Loopring.

***

UPDATE 28 April 2020: It has been brought to our attention that the website to this crypto project is no longer accessible. Accordingly, we suspect that this crypto project has been closed down. If you have any more information about this, please contact us and we will update this review accordingly.

***

Exchange Protocol

Loopring constitutes an open source protocol, not an exchange itself. The team behind Loopring have built the solution on Ethereum to support ERC-20 tokens transactions. Eventually, the goal will be to support any cryptocurrency trading pair.

By accessing multiple exchanges at once, users are able to realize liquidity many times greater than what’s available in any single exchange. Loopring will break the orders into small pieces and place them across all exchanges simultaneously. This also leads to users getting the best available price.

Exchanges

Loopring’s protocol can be accessed by both centralized and decentralized exchanges. It allows exchanges to fill more orders, thus leading to more profit.

Loopring protocol allows for several improvements over traditional centralized exchanges, such as:

• High liquidity: Using a technology called ring-matching, orders can be posted on many exchanges at once. Thus, increasing liquidity on any trading pair.
• Fairness: Loopring’s fee and discount model allows for fairness between all parties involved (Makers, Takers, Exchanges, and Miners).
• Reduced counterparty and exchange risk: The tokens stay in the user’s wallet and are never locked by orders. They are only transferred out after the trade is executed and confirmed

Token Application

Gas fee will be the primary use of the LRC token to facilitate trades and transactions on the protocol. This makes the application of the token to be more of a utility nature. Therefore, we do not really regard this token as a speculative instrument. However, we view the overall ambition of the project as a very good market fit.

***