What is Loopring (LRC)? | Loopring Crypto Explained in Under 60 Seconds

What is Loopring (LRC)? The Loopring protocol is an Ethereum Layer-2 scaling protocol that allows developers to build automated market makers (AMMs), orderbook based decentralized exchanges (DEX), and payment applications on Ethereum.

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The Loopring Token (LRC) is the Ethereum-based cryptocurrency token of Loopring, an open protocol designed for the building of decentralized crypto exchanges.

The Loopring’s Ethereum zkRollup L2 Is a scaling protocol that brings high performance to Ethereum by raising speeds and lowering fees by 1000x. The Loopring Exchange is the first high speed DeFi trading platform built on an Ethereum zkRollup (Loopring Protocol v3.6).

Loopring also introduced the first Ethereum Smart Wallet with zkRollup-based Trading, Transfers & AMMs. With a smart contract based pluggable & modular design, the Loopring wallet can be upgraded and adapted to use any future technologies and standards.

WEBSITE: https://loopring.org/