Crypto Asset Overview: Loopring (LRC)

Last updated:

WIP Alert This is a work in progress. Current information is correct but more content may be added in the future.

DISCLAIMER This post reflects my personal opinion on this topic; it does not constitute investment advice of any kind.

Loopring is a protocol for trading Ethereum-based tokens between separate exchanges (will generalize to all kinds of blockchains in the future).

It acts as a trusted middle man between two independent exchanges so people in them can trade with people in the other one.

LRC is a tradeable token that's used to pay for transactions on the Loopring network.

It's based on Ethereum (currently)

It's used for EC20 Tokens right now but it'll be eventaully used for all types of exchanges and currency pairs.

Similar to

  • 0x (ZRC) (it's also a protocol for decentralized exchanges)

  • Kyber Network (KNC) (ditto)

  • OmiseGo (OMG) (ditto)

Notes

  • It's based off China

Resources

Dialogue & Discussion