Loopring ( LRC ) – Revolutionary Automated Transaction Execution Structure

LoopRing is a decentralized, automated transaction execution protocol that intelligently trades using a unique ring matching system. In essence, a ring structure can link several orders at once and execute them simultaneously. Imagine that Nadya wants to buy RLC in exchange for REQ, David wants to buy REQ in exchange for POWER, Neil wants to buy POWR in exchange for RLC. Instead of completing these orders one by one with all the additional trade costs, LoopRing can connect three buyers and complete orders at the same time.

Why LoopRing is of great importance

LoopRing introduces the concepts of liquidity and trust in the blockchain. LoopRing acts as an intermediary of trust between blockchains and exchanges. Since the bidding is carried out simultaneously, there is no need to trust the other party. If I want to buy RLC, I don’t have to sell ETH first and then buy RLC. I can instantly buy RLC by selling ETH. For a better understanding, I can say that it plays an important role for platforms, such as NEO, in creating an ecosystem where assets can be exchanged safely and efficiently
Financial support

• FBG Capital
• QTUM Foundation
• NEO Council
• SequoiaDB

FBG Capital gives legitimacy and strong support to LoopRing. QTUM and NEO see the potential of LoopRing protocols in providing trust and liquidity on their platforms, respectively. LoopRing’s strong support and unique connections within China give it a competitive edge. And also the ring technology is unique and has great potential.

Loopring (LRC) is an open source protocol designed for the decentralized exchange of ERC 20 tokens created on the Ethereum platform. The developers of Loopring believe that most cryptocurrencies are highly centralized, and this leads to numerous hacker attacks and theft of funds. It was with the aim of correcting this flaw that Loopring was created. Loopring is not just a protocol, but an automatic decentralized system that trades between cryptobirds and various tokens, protecting users from the risks and reducing the cost of commissions.

Capitalization and Loopring rate

The platform's internal token is called LRC. As of February 2018, the LRC is in 56th place with a $ 0.35 billion capitalizations. The cost of 1 token is $ 0.62
The LRC token is used in two cases.
• Payment of commissions in the implementation of transactions.
• Depositing smart contracts to increase trust in exchange operations

Technical details and mechanism of work

Loopring is an “automated execution system”, which is built on the combination of Ethereum and NEO technologies. Its functionality allows users to conduct asset trading between different exchanges. There is no need to confuse the site with a decentralized exchange. For the most part, this is just a new solution for exchanges that will make it easier to buy and sell. Loopring was created in order to give all types of exchanges the opportunity to introduce new functionality that allows you to implement crosschain and interbourse liquidity. In fact, any platform that uses smart contracts in its operations can integrate Loopring. Loopring allows traders to get rid of the need to deposit their funds to the exchange to initiate the trading process. Thanks to her, you can forget about the need to transfer funds somewhere else, outside your wallet.

It works as follows

• The system places an order that will be created through the looprinio wallet.
• Next, the order is issued in the form of a smart contract and transferred to the nodes.
• The nodes check the availability of the order and begin to search for the most
appropriate courses.
• After completing the order ring, smart contracts check if they can be fulfilled.
• At the end, smart contracts transfer coins to recipients. The process is atomic, funds go from wallet to wallet, without intermediaries.
Finally, we note that an order ring is a process in which several transactions from different exchanges are combined to fulfill each other’s conditions.

Mining loopring

Cryptocurrency Lupring does not provide the possibility of classic coin mining. At the preliminary stage of the project launch, the developers issued currency and, by launching the ICO, 30% of 1,374,956,262 LRC, which are the total number of coins of the system, were sold to investors. Now 572 074 043 LRC is in circulation. Funds collected as part of the release of coins on the open market, allow developers to do their work to this day.
In general, the distribution of tokens is as follows.

• 60% - AirDrop
• 30% sold to investors
• 5% are distributed among developers
• 5% is spent on marketing

As for 60% of tokens, which are listed in the first paragraph, the developers will distribute all these coins during the 3 stages of "unloading", one of which has already taken place on July 5, and the other two are scheduled for September 5 and November 5. Each time, 20% of all coins will be distributed among LRC holders.

Benefits of Loopring

No risk

Loopring does not require participants to send their tokens to stock storage. All funds remain on their blockchain addresses for the duration of the transaction. This guarantees protection against the bankruptcy of exchanges and DDOS attacks.

Decentralization

All orders in the system are executed automatically using smart contracts, eliminating the impact on the system by third parties.

Order splitting

The Loopring mechanism splits the order into small parts, determines the best ways to exchange and the best time to place an order.

Internet Protocol

Loopring can work with any ERC 20 tokens and blockchains that support smart contracts

The Team

• Daniel Wang (Founder) Experience in Google, Yunrang Technology, JD.com, Coinport
Exchange, Hygene Online, Zhongan Technology.
• Jay Zhou - Marketing Director. Experience in PayPal, SJ Consulting, E & Y.
• Jonston Chen - Operations Director. Experience in 3NOD.

The Conclusion

Using the Loopring platform protects users from the risks of classic platforms: freezing of funds, DDOS-attack, dependence on third parties, the risk of fraud. With the help of Loopring, network members can make all exchanges directly, fully controlling their own funds. Preliminary, investors estimate the prospects of the platform positively. A full launch of the project will take place in 2018.

Author : https://bitcointalk.org/index.php?action=profile;u=1445873;sa=summary