They say that diamonds are a girl's best friend. Well, we have found the blockchain's best friend and by gosh is it a beautiful ring.
What is Loopring?
Contrary to common perception, Loopring is not just a decentralised exchange, rather it is an open protocol that will allow centralised and decentralised exchanges access to utilise its network in order to establish cross blockchain and exchange transactions.
What makes this ring so special?
Loopring aims to solve common issues we face in this industry and to do so in a manner which promotes sustainability. Have you ever conducted a trade and later found a cheaper price on another exchange? This is one problem that Loopring is tackling. In essence, pursuing an order through the Loopring protocol will ensure that you receive the best possible price at any given time. Let us ask you another question, where were you during the Mt. Gox ordeal? I know that we were most likely sitting in a university lecture not paying attention at the time. On the 19th of June 2011, there was a major security breach of the Mt. Gox Bitcoin exchange that was followed by a price drop. A hacker had used a Mt. Gox official's credentials to access the system and transfer Bitcoins to himself. This is a monumental event regarding exchange hacks and nowadays we have all heard our own little story of an exchange hack. This is a significant battle Loopring aims to fight using its protocol and it ensures that all tokens remain in your own warm and cosy blockchain-based address and always under your control. This is to the extent that:
Members can even transfer their tokens around after orders are submitted.
Which is a point of extreme importance advertised on the front page of the Loopring website. Furthermore, Loopring aims to protect individuals from serious threats such as exchange bankruptcies and DDOS. In conclusion, we can't stress enough the real beauty and significance of implementing such a protocol within exchanges considering our current environment.
What's in the loop?
So what is happening with Loopring now? Are there any updates or events you should know about? We're glad you asked! These are the most noteworthy updates today when it comes to Loopring:
Loopring is now back actively trading on Binance. You will find the trading pairs of LRC/BTC and LRC/ETH. It's great to see it back and in full motion!
Da Hongfei (founder of NEO) confirms he is an advisor for Loopring and mentions Loopring integration. I don't think anything needs to be said about how big this is and the implications this may have for Loopring, we all know!
A few more projects integrating with NEO that are very important to emphasise are Elastos, which is a blockchain powered internet, HPB (high performance blockchain) using NeoContract, and also Bancor and Loopring currency protocols.
- MLG Blockchain Consulting announces partnership with Loopring. This will allow Loopring to utilise MLG's global communities and connect through hackathons, networking events and meetups to distribute the word of Loopring and increase the awareness of their protocol.
Stay in the loop.
Considering the exciting times ahead for Loopring, if you would like to keep up to date, you can find more information below:
Website - https://loopring.org
GitHub - https://github.com/loopring
Slack - https://loopring-team.slack.com/
Twitter - https://twitter.com/loopringorg