Loopring [NEO] LRN

$0.0564
Market Cap $ 6.410 MM (#300)
24h Volume $ 91.419 K
Chg. 24h: -0.83%
Algo. score 3.7/5  (#106)
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Loopring [NEO] project purpose and description

Loopring [NEO] clarity of purpose

Loopring [NEO] purpose and aspects

Loopring provides traders, participants, and institutions with a decentralized, automated trade execution system that intelligently implements their trades across the world’s crypto exchanges, shielding them from counterparty risk and reducing their trading costs. Loopring intermediates trust between blockchains and exchanges, allowing trading members to retain custody of their funds. For ERC20 tokens initially.

Loopring [NEO] categories

Decentralized exchangeSmart contracts

Short description

Loopring provides traders, participants, and institutions with a decentralized, automated trade execution system that intelligently implements their trades across the world’s crypto exchanges, shielding them from counterparty risk and reducing their trading costs. Loopring intermediates trust between blockchains and exchanges, allowing trading members to retain custody of their funds. For ERC20 tokens initially.

Abstract

Loopring is an open protocol for building decentralized exchanges. Loopring operates as a public set of smart contracts responsible for trade and settlement, with an off-chain group of actors aggregating and communicating orders. The protocol is free, extensible, and serves as a standardized building block for decentralized applications (dApps) that incorporate exchange functionality. Its interoperable standards facilitate trustless, anonymous trading. An important improvement over current decentralized exchange protocols is the ability for orders to be mix-and-matched with other, dissimilar orders, obviating the constraints of two-token trading pairs and drastically improving liquidity. Loopring also employs a unique and robust solution to prevent front-running: the unfair attempt to submit transactions into a block quicker than the original solution provider. Loopring is blockchain agnostic, and deployable on any blockchain with smart contract functionality. At the time of writing, it’s operable on Ethereum [1] [2] and Qtum [3] with NEO [4] under construction.

Link to Roadmap: https://loopring.org/#milestones
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