Loopring

LRC

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Loopring
The Ethereum token Loopring (LRC) calls itself "an open-source, audited, and non-custodial trading mechanism" in its description. The protocol uses zero-knowledge proofs (ZKPs), a prominent technique for strengthening bitcoin privacy, to enable anyone to build non-custodial, decentralized exchanges on top of it. ZKPs ensure that assets are always in the control of users. The majority of bitcoin trading happens on centralized exchanges, which are online marketplaces controlled by for-profit businesses that manage user funds and match trade orders. However, as stated in the whitepaper, there are a number of hazards associated with using these platforms. Lack of security, lack of transparency, and lack of liquidity are the three fundamental dangers of controlled exchanges. Decentralized exchanges have developed as a new sort of exchange as a response to deal with these problems. Users of these exchanges maintain ownership of their private keys by transacting directly on the underlying blockchain, setting them apart from centralized exchanges. Decentralized exchanges do have certain drawbacks, though. Constraints on performance and structure still exist. So, according to its mission statement, Loopring wants to build a hybrid platform that includes key elements of both centralized and decentralized exchanges. By using hybrid approaches, the protocol seeks to preserve the advantages of decentralized exchanges while reducing or eliminating their inefficiencies. By maintaining the orders in a centralized fashion but settling the trade on blockchain, Loopring hopes to increase order execution efficiency and DEX liquidity.
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