Loopring Protocol 3.6: Features and Challenges, EDCON Presentation

Loopring Protocol 3.6: Features and Challenges, EDCON Presentation

By LRC Moderator | Loopring | 23 Aug 2020


 

Loopring protocol has its much anticipated v3.6 upgrade coming in Q4 2020. This version is robust and feature-full enough that we envision it can actually allow Layer 2 to make a dent in the current Ethereum congestion, and support many millions of users for the next several years. Below are the slides and video presentation about v3.6 from Daniel, Loopring CEO, at EDCON.

 

Slides

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https://docs.google.com/presentation/d/1egIy5DGSpaiipBTyPZolwce-4Jj2dy9zzAR2j_Q9gqI/edit#slide=id.g92033399d9_2_56

 

Video

https://youtu.be/6nZypCa4wgI

For more info on v3.6, you can check out the detailed post on v3.5 (which is not deployed, and is a building block of 3.6), and several recent monthly updates, such as this one, which also dives into more details.

 

A closing thought

zkRollup is the most secure of layer 2 scaling flavours (so secure we like to call it layer 1.5), but the tradeoff is less generalizability. That is, Loopring supports scalable trading and transfers, not arbitrary EVM actions. However, trading and transfers represent much of current Ethereum activity and gas usage, and as you see above in 3.6, trading and transfers on our layer 2 are getting a big step up in terms of usability and flexibility. Further, assets on the zkRollup will be able to interact and be more composable with layer 1 DeFi protocols and with layer 1 itself. These improvements along with overall advancements being made in generalizing ZKPs makes us very optimistic about the future of ZK based scaling methods.

We are really excited for this release and believe it will solidify Loopring as a leading layer 2 on Ethereum. Equally important, we are excited by the remarkable work of our layer 2 compatriots (not to mention ETH2 effort), as we will all need to work together to bring Ethereum to the world.

 

Loopring is a protocol for scalable, secure exchanges and payments on Ethereum using zkRollup. You can sign up for our Monthly Update, learn more at Loopring.org, or check out an exchange/payment app at Loopring.io.

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