Today I’m looking at Loopring, a token exchange protocol for decentralized exchange on the Ethereum blockchain.
Recently I’ve been looking into projects around decentralized exchanges including Komodo, Blocknet and Binance.
Loopring is a decentralized automated execution system that trades across crypto-token exchanges. There’s a few benefits to this type of system. Being decentralized, users keep control of their assets and eliminate counterparty risk. It’s also cheaper than traditional trading. And by working across different crypto exchanges it can improve liquidity.
The key features of Loopring are order sharing and what they call ring-matching.
With order sharing Loopring can break larger orders into smaller ones and identify the best exchanges for execution.
The ring-matching is a feature that pools orders. It’s an automated trading intelligence that interfaces between the crypto exchanges. Loopring uses their balance sheet to realize liquidity greater than that directly available in the market.
With Loopring you can put an order on one exchange and have it broadcast to any exchange in the Loopring network.
Use of the Loopring requires its native token, LRC.
There’s a total 1.4 billion LRC tokens with 286 million circulating right now. It can be used to pay transaction fees for the exchange and as a deposit for exchange registration.
Exchanges are incentivized to hold more LRC than less. Exchanges are required to offer a discount for each transaction on the Loopring network. And the discount fees is dependent on the number of LRC deposited. So the more LRC held, the lower the fee.
One drawback is that LRC is not on any major exchanges. But it trades on HitBTC and EtherDelta.
This one is still in development. Launch is targeted for April 2018.
I like Loopring because I like the idea of linking decentralized exchanges and improving liquidity. One drawback though is that it only supports ETH and the ERC20 ecosystem.
Loopring is one to watch.
What do you think of Loopring?
For more on cryptos follow me @g-dubs and on SteemFollower
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@g-dubs this is a great post. I have recently invèted some lrc via the coinexchange. This is an erc20 token? Upvoted. @gold84
Yep, ERC20. Thanks!
Rumour isLoopring is getting listed on Binance by the end of the month ... couple days to buy before pump
Interesting, , thanks. It is a web GUI?
That's a good question, I don't know yet.
Just like kyber network and cobinhood, decentralized exchanges will go hand in hand with cryptos currency.
Looks good. Decentralized exchanges are the future.
Thanks!
do you know the lowest exchange fees exchange platform ?
Binance right now if you pay in BNB it's half off, 0.1%. Most exchanges are pretty cheap though, 0.25% or less.
thanks for information
Your welcome!
I've been telling people to buy Loopring for a few weeks now! It's going to be listed on major exchanges soon, and is an overlooked and undervalued gem. I've been accumulating and spreading the word. Most everybody who looks into it agrees it's a great project... Da Hongfei, CoZ, Qtum, team from Google, Baidu, Pboc, and so on..
I like the NEO connection... which exchange are you buying it on?
I got it on Etherdelta, which I am kind of loving (using the ledger nano s with it works wonderfully).
since the ethereum upgrade the gas costs on Etherdelta are very low, and it is a lot faster.
I've been on EtherDelta a little, but not recently, I'll have to spend some time w it again. I think I have some ETH to spend on there too ;-p
Try it out, it's likely a lot faster than you're used to due to the ethereum hardfork! Gas cost as low as 1 gwei will do the trick even, which was unheard of a short while ago
should be on Binance by end of month
I think decentralized exchanges will eventually replace the traditional exchanges that we have today. (In all sectors, not just crypto)
This will be another example of how the blockchain will revolutionize the world.
Agreed... Why let someone control your assets when you don't have to?
is an overlooked and undervalued gem. I've been accumulating and spreading the word.
Thanks... I need to pick some up myself... looks like a good entry point.
img credz: pixabay.com
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