Loopring is an open protocol for building decentralized exchanges on the initiative of Daniel Wang. The protocol is scalable and serves as a standardized building block for decentralized applications (dApps) that contain exchange functionality. The founder and CEO of Loopring is Daniel Wang. In 2014 he was the head of Coin Port a decentralized cryptocurrency exchange. He also worked as Google Tech Lead and was co-founder of Yunrang Technology.
Loopring 3.0 is the newest, fastest, and most forward-looking protocol. It provides a zero-knowledge proof (zkSNARKs) solution for the most outstanding challenge of all decentralized protocols - performance, or more precisely, much higher performance without a tradeoff in security. There are, however, some tradeoffs in other aspects. For example, orders are no longer shareable among multiple exchanges and have to be matched by a dedicated relayer. Also, cryptoassets have to be deposited into a smart contract before they’re available for orders. One benefit of these tradeoffs is that the new user experience is more comparable to centralized exchanges, with familiar user flow. Loopring 3.0 also supports multiple upgradability options. As an owner, you can decide whether your DEX can upgrade to new compatible versions in the future, and if so, whether the upgrade should be fully automated or manually. In either case, the upgrade process is entirely transparent to end-users.Read more
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