Loopring's CEO was a lead tech at Google. LRC is a decentralized exchange (DEX) protocol that enables others to build DEXs. The project employs off-chain order messaging and on-chain transactions to ensure that users retain custody of their tokens. Loopring is blockchain-agnostic, meaning that it can be used across multiple platforms. It has 3 cryptocurrency tokens: LRC (Ethereum), LRN (NEO), and LRQ (Qtum). Each is used to enable trades without locking cryptocurrency balances. Ring Miners match, verify, and settle trades via Order Rings stored on smart contracts. To date, Loopring has established partnerships with the likes of PricewaterhouseCoopers (PwC), DeFi, and Berkeley. Vitalik Buterin, creator of Ethereum, had this to say: https://www.publish0x.com/coinmania/4-crypto-projects-vitalik-buterin-keeps-talking-about-xxmvrr,
Risks: SEC shut down etherdelta, a DEX, so it may go after other DEXs though LRC passed the Howie test to be listed on Bittrex and there are numerous other DEXs that are doing well so it is unlikely LRC is at risk.
Crypto Report - Loopring (LRC) 7-13-20
| Published: | 13 Jul 2020 09:18 ET |
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