Loopring(LRC) is a decentralised exchange and anopen sourced protocol. Loopring is based on smart contracts. These smart contracts are for decentralised exchanges on the Ethereum blockchain. Loopring enables to mix and match orders for multiple exchanges. Loopring is an automated and decentralised trade execution system for traders, institutions and participants which implements intelligently their trades across crypto exchanges in the world. Loopring protects them from risks of counterparty and reduces their cost of trading.
Loopring(LRC) has a major task of intermediating trust between exchange and blockchain. It also enables the trading members to retain their funds.
Loopring (LRC) is an open source protocol. Loopring’s basic work is to provide protection from counterparty risks to the users. It also performs automated decentralised trading. This is helpful in reducing the cost of buying and selling cryptocurrency. Loopring protects the users by not forcing them to send currencies or tokens to a centralised custodial independent existence. In Loopring, sending orders is a command given by the user. Sender broadcasts the order to every exchange connected with Loopring protocol so that the order may be partially or fully executed. This becomes possible because all currency or tokens are always kept in user’s blockchain address during the entire exchange process. Total clearing of transaction and settlement are executed within the smart contract.
All currencies or tokens remain in their addresses which are blockchain based. All tokens or currencies remain under the control of the users themselves. Loopring automatically adjusts the trading amount with the starting price. This allows the users to transfer tokens even after submission of orders. It is also free from any DDoS attacks or concerns of exchange bankruptcy. Loopring is an expert in sharing orders. It breaks the orders in smaller pieces to know about the best time to trade and exchange each batch. This results into maximum trading outcome without the dependency on a singleplatform.
Loopring (LRC) also uses a specialised technique called as Ring Matching. It has the capability of interfacing with different blockchain and exchanges with its automatic trading intelligence. This protects the protocol from any major liquidity issue. This protocol is exclusively designed to create liquidity inside the platform. It also spreads out orders across many different exchanges.
Loopring (LRC) has all the potential which will make decentralised trading a reality in near future. Loopring is a boon for cryptocurrency fans. The idea of Loopring as a whole is really appreciable.
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