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Loopring has been a zkRollup, built for layer 2 solutions layer 2, an open protocol built for the integration of decentralized crypto exchanges. The platform’s motive is to enable highthroughput, cost-efficient payment, and trading on the Ethereum blockchain.
The platform has its own native token called LRC which was launched in August 2017. The protocol could be utilized to pay fees on Loopring L2. In addition, the platform possesses its own wallet with layer 2 scaling to enable a safe, intuitive, effective Ethereum experience in your pocket.
The central idea behind the platform is to merge elements of decentralized and centralized crypto exchanges. In order to produce a token that will enable the distinct benefits by eliminating the existing inefficiencies. Through supervising sell and buy orders in a centralized way yet fixing the trades on a blockchain, and merging up to 16 orders into circular trades in contrast against enabling one versus one trading pairs.
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