Loopring - Powering the future growth of Ethereum

Loopring (LRC)

What is Loopring?

Loopring is an exchange protocol that uses zkRollups to allow users to swap and trade crypto on the Ethereum network fast, securely, and nearly fee free. It is what is called a Layer 2. It’s one of a few protocols that allows you to do basically everything you can do on Ethereum but with lower fees and faster finality time.

Why does Loopring have value?

The use of zkRollups allow users to verify sensitive data without actually providing detailed information. It enables trust with minimum verification in a smart contract. Think about showing your ID at the bar. The bartender needs to know how old you are, but they don’t need to see your address, height and weight, whether you’re an organ donor, etc. This is effectively what zkRollups do; they show only your age and hide all other details to protect your privacy.

Loopring also enables low fees, even on Ethereum, because it bundles transactions within its protocol, which are then verified and settled on Ethereum (Layer 1). You get all the benefits of security through Ethereum while saving money and getting faster transactions.

What are the benefits of Loopring?

●       Fees are low because transactions are conducted within its protocol.

●       Transactions are confirmed in milliseconds.

●       Users can participate in mining and earn rewards.

What are the disadvantages of Loopring?

●       Multiple Layer 2 options on Ethereum could overshadow Loopring.

What are LRC’s tokenomics?

The maximum supply of LRC is 1,374,513,896. Most of it is already in circulation. New coins are rewarded to ring miners, who bundle transactions in rings and broadcast them to the rest of the network.

Who founded Loopring?

Daniel Wang.

Who are Loopring’s investors?

Loopring has conducted two funding rounds. Main investors are G2H2 Capital, NEO, Fundamental Labs, and Obsidian Capital. It conducted an ICO in 2017, but later returned most of the funds raised due to regulatory pressure from the Chinese government.

Concise Crypto Grade:

B -- While Loopring has strong tech and was founded by a former Google engineer it’s playing in a very competitive space. Other Layer 2 options on Ethereum like Arbitrum, Optimism, and Polygon could mean Loopring loses market share in the coming months. **Not financial advice.   

Where can I buy LRC?

Binance, Coinbase Exchange, KuCoin, Gate.io, Huobi Global, Bithumb.

What ecosystem does Loopring run on?

Ethereum