Loopring is an open protocol for building decentralized exchanges initiated by Daniel Wang. The protocol is free, extensible, and serves as a standardized building block for decentralized applications (dApps) that incorporate exchange functionality. It is operable on Ethereum and Qtum while NEO is also under construction.
Loopring provides market participants with a decentralized, automated trade execution system that executes their trades across cryptocurrency exchanges, shielding them from counterparty risk and reducing trading costs.
Ring-miners are enabling that orders can be filled through order rings until the desired trades are completed for all parties involved.
The Loopring website summaries:
- Reduced counterparty risk – funds remain controlled by the owner at all times.
- Shared orders – orders can be split across exchanges at different times for optimizes prices.
- Ring-matching – orders are not limited to two parties.
- Cross-chain – Blockchain-agnostic, functions with all blockchains with smart contract support.
Loopring wants to achieve that more orders get completed on exchanges by facilitating cross-exchange transactions.
The solutions it proposes therefore is an automated execution system. Funds remain in the wallet of the user until orders are executed.
On top Loopring uses order sharing. This means all orders can be broken up into smaller pieces to identify the best exchange and ideal time to trade each batch.
Loopring (LRC) Price
Loopring (LRC) coin price is available online on COIN360 widget: