What is Loopring
¿What is Loopring?
Loopring is a decentralized exchange and payment protocol that allows us to carry out super-fast and cheap transactions, while offering us the same security guarantees as the Ethereum Blockchain.
Daniel Wang decided to revolutionize the industry by creating an open source protocol to save crypto investors from incidents like Mt.
This protocol was executed on the ethereum network in 2019.
(LRC) is the token supplied by the Loopring protocol.
¿What does it offer?
Loopring offers multi-token transfers, allowing users and exchange houses advantages, by adding the risk in decentralized smart contracts, minimizing commissions as much as possible.
In addition, to the protocol’s smart contracts, looping offers a variety of open source software to help run decentralized exchanges.
¿How does it work?
Loopring works through two base technologies, sidechains and zkRollups.
The sidechain gives access to Loopring, a secondary network where operations are executed quickly and cheaply.
This concept applies to the BTC lightning network, where Bitcoin operations are executed quickly and with low commissions, all this data ends up in the BTC block chain for its definitive protection.
Loopring uses the ethereum platform to guard all the information of its activities and leave a testimony of them.
A zk-Rollup is an ecosystem of off-chain operation that uses zk-SNARK tests to execute crypto activities that could be quickly verified and submitted to the blockchain for a record of their execution.
All this development in Loopring is linked to a powerful smart contract that is developed in the sidechain of the protocol, and gives access to all operations to be private and secure.
¿How is Loopring regulated?
Being a decentralized network, there is no financial entity that regulates it.
¿Why do people use Loopring?
Loopring is used by users as it aims to solve a special problem in the crypto space, thus increasing its popularity making it one of the best platforms.
Streamline crypto decentralization to perform better and end risky conventional centralized exchanges
¿How is Loopring different from other projects?
Unlike other protocols, looping has a highly trained and talented team.
Loopring combines the advantages of dex (decentralized exchange), liquidity and order book processing offered by centralized exchanges, all this to support growth and efficiency in the development of orders and advance liquidity in the dex system.
¿Where can i buy it?
One of the ways where you can buy LRC, is through Binance, since it has a great variety negotiable in trade, you can exchange a cryptocurrency, fiduciary cryptocurrencies or simply use a debit or credit card to buy the stablecoin, it is also Bank deposits are allowed.
https://www.binance.com/
¿Where to find more information?
For more information such as movements, prices, explorers, contracts and more you can visit the following link:https://coinmarketcap.com/
¿Did you know that you can buy and sell USDT and BUSD online thanks to Gastcoin Gateway?
