What is Loopring?
It is a cryptocurrency that emerged in September 2017 that seeks to improve the existing exchange conditions between cryptocurrencies. The objective, that users can exchange different tokens among themselves in a fast and agile way.
What are the characteristics of Loopring?
This cryptocurrency is distinguished by the following aspects:
- It is based on the Ethereum platform: like many new cryptocurrencies, it has based its implementation through Ethereum.
- Decentralization: there is no central mechanism that controls or limits the functionalities of the platform.
- It does not manage the tokens within its platform: the purpose is that, through Loopring, it is possible to carry out any purchase and sale operation of tokens located in different exchanges. In this way, the speed of exchange is increased and allows a greater availability of cryptocurrencies. Any exchange platform can join Looping and become part of this exchange network.
- Reduction in the risks of hacker attacks: since it does not store cryptocurrencies, it reduces problems derived from theft.
What explains the rise in value?
In early December, the project announced that its latest v3.6 automated market maker went live with extra functionality, such as the ability to do gas-free instant swaps and gas-free instant adding/removing liquidity as a liquidity provider on Layer 2.
Loopring is also preparing to launch its Layer 2 liquidity mining program, which will reward yield farmers with its native token, LRC.
Will it keep going up?
I am not an expert so it is not advisable to base your investments on my post.
It is undoubtedly an altcoin that could be facing a significant rise and will soon reach 0.80$ or even 1$(0,37$ at the time of the post). Recent looping advances coupled with Ripple's crash and bitcoin inflation could make this rise easy.
