What is Loopring (LRC)?
Loopring (LRC) - The open protocol token, based on Ethereum, which serves for the creation of decentralized exchanges.
- LRC es un token totalmente basado en Ethereum, fundado por Daniel Wang.
- Combina elementos de los exchanges de criptomonedas centralizados y descentralizados, con el fin de crear un protocolo exclusivo para la eliminación de ineficiencias.
- La emisión de tokens LRC se rige mediante contratos inteligenetes, lanzados por Loopring Protocol.
Key metrics of Loopring (LRC)
Cap de Mercado
What is Loopring (LRC)?
Loopring (LRC) is a cryptocurrency token that is entirely based on Ethereum. One of its main features is that it is an open protocol, and it is completely designed for the creation of decentralized cryptocurrency exchanges.
Its founder and current CEO is Daniel Wang, who inaugurated the Loopring Foundation for the complete management of the project. Wang, with extensive experience in the Fintech world, realized that much of the volume of trading in 2020 (about 200 million) occurred on centralized platforms or operated by private companies, something that gave them control of information and user funds.
Wang, seeing the big disadvantages that centralized exchanges have, decided to create the Loopring foundation, whose main goal was to change the crypto landscape a bit. His main idea is to combine the elements of centralized exchanges with his ideas of freedom and decentralized, creating a protocol with advantages and practically no inefficiencies, such as:
- They avoid hacker attacks because they do not keep user data, making it extremely difficult to steal information.
- Total transparency in operations, due to the fact that they will be settled in the blockchain. This avoids private settlement and the problems this entails.
- Completely focused on DEX operations, helping buy and sell orders to be placed on the public blockchain.
Token Loopring (LRC).
To give authority to the trades that took place within the decentralized exchange, Loopring launched its own token, LRC. Initially, issuance of these tokens was only available by smart contracts within the Loopring Protocol.
Users who wanted to quickly Loopring (LRC) used the ring mining method, something that completely benefited the liquidity of the internal network. In addition, those who succeeded in creating new nodes were rewarded with this token, being the first token holders.
Currently Loopring (LRC) can be purchased on other cryptocurrency exchanges, since the company decided to go to market with about 1 billion tokens in circulation and a market capacity of $600 million. In addition, being a token that has not exceeded $3 in value, users see opportunities for short-term trade.
Loopring (LRC) Communities and Social Networks
Other listings available in TruBit Pro 👇
Cronos (CRO) | What it is and Price | Now in TruBit Pro ✅
Cronos (CRO) has arrived at TruBit Pro. Learn all about this token, its price and how to buy it.
▷ GMX | What is and Price | Available in TruBit Pro
GMX is now listed on TruBit Pro. Find out what it is, technical data, price and how to invest.