Crypto Report - Loopring (LRC) 7-13-20

Published:

13 Jul 2020 09:18 ET

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.

Like what you read?

Let us help you make sense of these markets by signing up for our free Market Lab Reports:

This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.