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Loopring is a decentralized cryptocurrency and blockchain protocol that enables the construction of decentralized exchanges (DEXs). It is an open-source protocol that is designed to provide users with a secure and efficient way to trade digital assets on the blockchain. Loopring is powered by the native token, LRC, which is used to pay for transaction fees and to incentivize miners for the execution of trades.
Loopring was founded in 2017 by Daniel Wang and Johnston Chen. The team has since grown to include a number of experienced developers, researchers, and advisors. The project has also received funding from a number of venture capital firms, including Fenbushi Capital, FBG Capital, and DHVC.
Loopring is based on an open-source protocol that is designed to enable the construction of decentralized exchanges (DEXs). The protocol is designed to provide users with a secure and efficient way to trade digital assets on the blockchain. The protocol is based on a ring-matching mechanism, which allows for fast and secure trades without the need for a centralized order book. The protocol also includes a set of smart contracts that are used to facilitate the trading process.
The native token of the Loopring protocol is LRC. This token is used to pay for transaction fees and to incentivize miners for the execution of trades. The LRC token is also used to incentivize users to participate in the network and to reward them for their contributions.
The Loopring protocol is designed to be modular and extensible, allowing for the development of new features and applications. The protocol is designed to be compatible with a wide range of blockchains, including Ethereum, EOS, NEO, and Qtum.
Loopring has been designed to provide users with a secure and efficient way to trade digital assets on the blockchain. The protocol is based on a ring-matching mechanism, which allows for fast and secure trades without the need for a centralized order book. The protocol also includes a set of smart contracts that are used to facilitate the trading process. The native token of the Loopring protocol, LRC, is used to pay for transaction fees and to incentivize miners for the execution of trades. The LRC token is also used to incentivize users to participate in the network and to reward them for their contributions. The Loopring protocol is designed to be modular and extensible, allowing for the development of new features and applications. The protocol is designed to be compatible with a wide range of blockchains, including Ethereum, EOS, NEO, and Qtum.