Overview

03/10/18 06:14 UTC-4

Loopring: the flexibility of the exchange nodes and the convenience of using the network

Convenience and flexibility of Loopring
Convenience and flexibility of Loopring

A platform called Loopring is a decentralized mechanism for cryptocurrency exchanging using user applications and agreeing on the sale / purchase of assets between Internet exchanges. The network shell is built on the Ethereum infrastructure, where traders' transactions are processed using the order register.

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Many platforms on cryptocurrency exchange support Loopring functions, granting thereby access to the blocks chain, in which assets liquidity is defined. Receiving information from the source, users can implement the digital currency at a more favorable rate. Integrate with Loopring can also network, working with clever smart contracts. These platforms include NEO and Qtum.

 

Work principles

The main advantage of working on the Loopring network is the fact that users do not need to contribute their money to the exchange. The ability to use a virtual account as a balance of account means has several advantages, because in this case you get additional security. Only after carrying out the operation for the exchange of currency from your wallet is the write-off of the necessary amount. Thus, participants can even after the request for an exchange, change the number of coins participating in the transaction.

At the time of readiness for the transaction, the operation is processed, including the wallet, where your crypto assets are stored. A private access key is used as a secure password. Then the contract is confirmed and the information is transferred to the distributed network. You can obtain the LRC cryptocurrency by using the power of your device to process the registry data with user requests. The process of trading regulation is looped around the network in such a way that transactions can be carried out in parts, but, ultimately, the transaction will end without residues.

Loopring is most often compared to a decentralized 0x exchange, which is distinguished by the ability to run nodes in the mother network. In Loopring's plans, the protocol extension and support for ERC223 tokens, the release of a purse based on iOS and Android, integration with partner networks, and the introduction of decentralized management.

 

Capitalization

For all of its existence, Loopring cryptocurrency has been successfully traded on major Internet exchanges. You can save LRC on any purse that the ERC-20 marker supports. In terms of capitalization of assets, Loopring is among the ТОР-100 most successful digital currencies on the world market.

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The flexibility of the exchange nodes and the convenience of using the network allows Loopring to remain one of the most popular cryptocurrency exchange platforms. With the help of Loopring, the liquidity of operations increases to the maximum, so decentralized exchange is popular among large investment organizations.

Editor: Yuliya Soroka

#Loopring #LRC #cryptocurrency

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