Join Our Mailing List
Thursday February 02, 2023
Bitcoin (BTC) $23,801.38   Ethereum (ETH) $1,650.64
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Vendor Technology

Loopring launches protocol 3.0 to develop truly scalable DEXs

Published by CryptoNinjas.net
04/11/2019
Loopring launches protocol 3.0 to develop truly scalable DEXs

Loopring, the open-source protocol for building decentralized exchanges, has announced the technical design of its protocol 3.0, following a period of comprehensive research and development.

The release represents a significant milestone for the Loopring protocol, combining innovative blockchain technologies and zero-knowledge cryptography in order to dramatically increase throughput and bring fully-functional decentralized exchanges a step closer to competing with their centralized counterparts.

Open-source and blockchain-agnostic, Loopring facilitates the creation of decentralized exchanges on any public blockchain that offers smart contract support. Currently focused on Ethereum, Loopring circumvents many of the traditional shortcomings of DEXs, such as low liquidity and high latency, while offering users the many benefits of non-custodial trading, including improved security and privacy.

It is worth noting that Loopring recently partnered with PwC China to research the emergence of stablecoins, and also trialed peer-to-peer trading of security tokens on a decentralized exchange with security-token platform Polymath.

“The significance of the launch of Loopring Protocol 3.0 and its contribution to the development of truly scalable DEXs cannot be understated. This launch marks, in some ways, a considerable departure from previous iterations of our platform, and is a radical evolutionary leap towards making this exciting technology a reality for cryptocurrency users and traders around the globe. We may now see the rise of commercially-ready DEXs.”
– Daniel Wang, Founder, and CEO of Loopring

3.0 Technology

To meet Loopring’s goal of substantially increasing the throughput of the protocol without sacrificing security guarantees, 3.0 employs advanced cryptography in the form of Zero-Knowledge Proofs (ZKPs). ZKPs enable as much work as possible to be done off-chain – including trade settlement – and require only a small proof of correctness to be verified on-chain. As this can be verified within a few milliseconds, employing ZKPs has the effect of dramatically improving scalability.

For reference, while past versions of Loopring were capable of verifying and settling approximately 2 trades per second on Ethereum, this implementation of 3.0 achieves 450 trades per second on Ethereum without on-chain data availability and 80 trades per second with on-chain data availability. Loopring expects throughput to be further optimized as development continues, with 1000 trades per second being viable in the near term, and each trade costing mere thousandths of a cent.

“A number of hurdles have delayed the adoption of DEXs to date, including, but not limited to, a lack of scalability. However, there’s no doubting that decentralized exchanges represent the future of crypto trading, addressing, as they do, the multitudinous issues faced by users of centralized exchanges in their day-to-day transactions, such as the risk of hacks, personal data leaks, or blocked funds. Loopring 3.0 solves the shortcomings of traditional DEX models, increasing scalability and throughput with zero knowledge cryptography. Now, we’re excited to see project teams make the most of our open-sourced technology and develop DEXs and other dapps that give their users the best possible experience, and one that’s true to the decentralized ethos of blockchain technology.”
– Brecht Devos, Protocol Development Lead, Loopring

45
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Totle Swap adds support for Loopring (LRC) token

01/13/2020
Totle Swap adds support for Loopring (LRC) token

Totle, a crypto trading aggregation app that allows users to automatically get the best prices from decentralized exchanges, announced it has added support for Loopring (LRC) token. Loopring is an open protocol that allows...

Read more

Loopring’s 3.0 DEX protocol integrates Chainlink oracle service

12/30/2019
Loopring’s 3.0 DEX protocol integrates Chainlink oracle service

Loopring, an open protocol for building decentralized exchanges (DEXs), has announced its collaboration with decentralized oracle service Chainlink in Loopring’s v3 zkRollup DEX protocol. The first integration, which is now live on the Ethereum...

Read more

WeDEX becomes the first DEX built on Loopring 3.0 protocol to go live

12/24/2019
WeDEX becomes the first DEX built on Loopring 3.0 protocol to go live

Loopring, an open protocol for scalable, non-custodial exchanges, has announced that WeDEX, the DEX built on top of the Loopring 3.0 protocol is now live. This contract shows one of the first live DEX's...

Read more

Crypto DEX protocol Loopring grants WeDEX 10 million LRC

10/28/2019
Crypto DEX protocol Loopring grants WeDEX 10 million LRC

Loopring, an open protocol for building scalable, non-custodial orderbook exchanges, announced that it has granted 10 million LRC (around $350,000) from its Loopring Ecosystem Advancement Fund (LEAF) to WeDEX, a decentralized exchange founded by...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
Trust Wallet launches anticipated browser extension of its crypto management app

Trust Wallet launches anticipated browser extension of its crypto management app

11/14/2022
Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

01/24/2023
Where Exactly Can You Spend Monero Cryptocurrency?

Where Exactly Can You Spend Monero Cryptocurrency?

10/20/2021
Web3 Racing Game Powered by Solana to Introduce In-Game Currency

Web3 Racing Game Powered by Solana to Introduce In-Game Currency

01/26/2023
Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

01/24/2023
Crypto exchange Gemini launches new electronic OTC trading solution

Crypto exchange Gemini launches new electronic OTC trading solution

01/19/2023
Crypto securitization platform-GenTwo links to all Coinbase assets

Crypto securitization platform GenTwo links to all Coinbase assets

01/14/2023
Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion

Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion

01/05/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy