Loopring is a fully autonomous trading platform that is designed to convert coins of various digital services and is aimed at solving the problems facing cryptocurrency exchanges in the blockchain ecosystem today. The key disadvantage of the latter was their excessive centralization and accordingly, their dependence on the influence of external factors.

Such resources are more susceptible to hacking and hacker attacks, which can lead to the loss of millions of US dollars. In some cases, the centralized nature of the platforms currently used can seriously hamper the freedom of users. An example of this is the recent decision by Coinbase, one of the largest digital exchanges, to freeze traders ’accounts from the states of Wyoming and Hawaii in connection with regulatory requests.

Loopring is devoid of such disadvantages and functions as an absolutely decentralized exchange service that guarantees a high level of transparency and liquidity of assets. The site does not require its participants to send their coins for storage to unverified third parties. Instead, resource users have the ability to constantly monitor tokens and can rely on their reliable protection against such threats as exchange hacks, bankruptcy, or massive DDOS attacks.

How does loopring work?

Orders placed on the Loopring platform are executed automatically. Trading funds remain under the control of users, although blocked by an intelligent contract. The mechanism that manages the site divides orders into several components, and then determines the time and place for trading these fragments.

The project uses the advanced logic of game theory to optimize the results of operations. It is important to note that Loopring is “blockchain-agnostic” and is compatible with almost all types of block chains that support smart contract technology. As soon as one or another kind of digital currency is connected to the service, you can exchange any of its tokens based on the ERC20 standard using Loopring.

Advantages of the Loopring Platform

The Loopring system offers not only a new cryptocurrency, but also a fully automated exchange scheme, as well as a protocol that allow you to most effectively protect the means of network participants from being stolen. And this is with minimum commissions and other comfortable working conditions in the Loopring network. The strengths of the Loopring platform are:

· zero risk level

· decentralized management

· the possibility of order separation

· ring mapping option

· multiplatform protocol

The developers of the Loopring project are Chinese IT specialists. The lack of decentralized projects in the cryptocurrency market suggests that the Loopring system has every chance of successful development and increasing popularity among users. These prospects will be justified provided that the creators of the Loopring platform will make every effort to promote the site. Provided that China removes the ban on the organization of ICO, the price of a token Loopring is likely to rise sharply.

Strengths of Loopring (LRC)

Protocol and cryptocurrency Loopring is a revolutionary idea, because help not only decentralized cryptocurrency trading but also does not compete directly with other exchanges, providing them with liquidity in return.

Risk free and decentralized

Truly decentralized trading means that your assets never leave your wallet until you sell them. In order for this to work, the smart contract Loopring must have access to your wallets. Credits and access to them are never transferred to a third party, which significantly reduces the risks.

Decentralized trading means that no one can control what is being traded or when (except for the protocol itself). The only way to stop trading with these types of platforms is to turn off the Internet. Centralized exchanges can not be closed by a decision of the authorities.

Order Breakdown and Ring matching

Loopring is able to break one order into a large number of small ones, which helps to find the best price on different exchanges. In essence, this means that you always sell and buy at the best Price that can be found on all exchanges that use the protocol

Ring-down information means that Loopring does not work like most exchanges, reducing the buyer and seller directly. Instead, the protocol forms sets of different sellers and buyers scattered across different exchanges, which all together form a “ring”. Such a ring is organized outside the blockchain, which makes it much faster, and the final result of exchanges inside the ring is already reported to the blockchain. this principle, which is similar to the Lightning Network ( Bitcoin scalability solution )

Applicable to most blockchains

A very important advantage is that Loopring is not tied to one blockchain, but can be applied to any of them if they support advanced logic (smart contracts). It starts Loopring only with the Ethereum blockchain, but plans for the future to introduce support for all the most popular blockchains.

The team consists of IT industry professionals, and not being small in size, has already achieved significant results in developing and promoting its offspring. The close ties between the manager and NEO and QTUM indicate that after successful testing at Ethereum, these blockchains will be among the first to earn Loopring.

The Conclusion

Loopring can become a worthy competitor of the 0x service. Among its merits is an experienced development team, good resistance to overloads, stable performance and extensive tools. Among the minuses, only the relative youth of the project, from which the insufficient development of infrastructure follows.

The developers have set themselves a truly daunting task. They intend to present the world one of the most technologically advanced, safe and functional electronic platforms, which is able to compete on equal terms with top altcoins. And given the above, they are fully able to achieve their plans. However, only time will tell how everything will be in reality. Now the most correct decision will be to follow the news about this cryptocurrency and wait for the right moment to buy it.