Loopring (LRC) - the cryptocurrency of a former Google employee

There are keywords and companies that are enough for the reputation of subsequent business projects. One of them is undoubtedly Google - a company that everyone who has ever used the Internet undoubtedly knows. Just her former employee is behind Loopring cryptocurrency (LRC) - for many it is a sufficient recommendation to invest in it, but this project has many more advantages than just known names among the originators. 

We are continuing the cycle of the Forex Club portal in which we analyze and describe the largest, highest-valued, most interesting, most developing, advanced and also the most controversial cryptocurrency projects around the world. Today, it's time for Loopring, i.e. not only a cryptocurrency, but also an automatic transaction execution system altcoins w Ethereum blockchain. 

How Loopring works

Loopring is not only a cryptocurrency, but also - and perhaps most importantly - a platform on which to build decentralized applications (DAPP). This allows each transaction to be handled by smart contractsthat are publicly available and easy to implement in your IT solutions. This allows you to track in real time where your funds are currently located.

Immediate checking of all data during transactions and posting them in real time ensure security, which is one of the advantages of Loopring over other projects. But not the only one. Another is the lack of risk associated with the use of intermediaries. The transactions are safe, because tokens are exchanged between contractors only after all conditions are met. So there is no risk here associated with, for example, bankruptcy of the cryptocurrency exchange or DDOS attacks. 

The system also has an interesting solution that allows you to adjust the transaction value automatically, which allows developers send tokens even after placing the order. To put it simply, it is sending an order in the form of a request to exchange tokens. What's more, the order can be split, thanks to which you can reduce costs - by purchasing tokens for the best possible price on various cryptocurrency exchanges. The so-called ring fit. The result is virtually immediate execution of transactions at the lowest possible price, regardless of the selected currency. Before Loopring was founded, no one offered to select cryptocurrencies from multiple blocks simultaneously. 

So you can say that Loopring is a decentralized exchange with an open protocolwhich offers complete protection of users by minimizing the risk. It is also characterized by care for their wallets, because each transaction is carried out at the lowest possible cost. 

Loopring - an idea by Daniel Wang from Google

Behind the idea is Daniel wang. He is a former employee of Google, an internet tycoon who needs no introduction. Wang has worked on this technology for years with Jay Zhou, who was previously employed by, among others, at PayPal. The idea was born in October 2016, and the white paper Loorping was published in May 2017.

Loopring cryptocurrency quotes

Of course, the native Loopring cryptocurrency - LRC is used for online payments. It can now be traded for as many as 56 Cryptocurrency exchanges from around the world. In November 2021, 1 of the target 225 tokens are already in circulation. Each of them is valued at approx. USD 423, which translates into a capitalization of over USD 784 billion. The peak of trading took place on November 1, 373, when each LRC token was paid $ 873.