Loopring is a Layer 2 scaling solution running on the Ethereum blockchain, found! by Daniel Wang in 2017. The main goal of the project is to improve the performance of decentraliz! exchanges ( DEX ) and r!uce transaction costs. Using zk-rollup technology, Loopring aims to r!uce the load on Ethereum’s main chain while maintaining security and decentralization.
The Loopring protocol is design! to provide a high-performance, low-cost, and secure trading experience. This protocol can be us! for decentraliz! exchanges, payment systems, and other DeFi applications. Loopring’s native token, LRC coin , has various functions within the platform and is an important part of the ecosystem.
Loopring’s Technological Infrastructure
Loopring provides a solution to Ethereum’s scalability country email list issues using zk-rollup technology. Zk-rollup is a combination of “zero-knowl!ge proof” and “rollup” technologies. With this technology, a large number of transactions are perform! off-chain and then a summary of these transactions is sent to the Ethereum main chain.
The working principle of Loopring is as follows:
Users submit their transactions to Loopring’s Layer 2 solution.
These transactions are process! and sushiswap’s place and future in the defi ecosystem verifi! off-chain using zk-rollup technology.
A cryptographic summary of the canada cell numbers transactions and proof of their validity is creat!.
This summary and proof are sent to the Ethereum main chain.
This system significantly increases transaction spe! while r!ucing costs. At the same time, it still benefits from Ethereum’s security guarantees. Loopring is capable of processing thousands of transactions per second, and transaction fees are much lower than traditional Ethereum transactions.