Decoding Loopring (LRC) crypto: Know its price and features

Be the First to Comment Read

Decoding Loopring (LRC) crypto: Know its price and features

Cryptocurrency
Image source: leksiv, Shutterstock.com

Highlights

  • Built on the Ethereum network, Loopring is an exchange and payment protocol
  • It offers a high-speed, low-fee platform for trading and payments without sacrificing the Ethereum-level security
  • The platform makes use of the zk-Rollup protocol

Loopring is a layer 2 blockchain built on top of the Ethereum network, allowing its users to build more efficient, scalable, non-custodial decentralised exchanges. Its native token is called LRC, having a circulating supply of about 1.33 billion LRC coins as of date. Its total supply is capped at 1.37 billion LRC coins.

The crypto is currently priced at US$0.5429, down 6.92% over the last 24 hours.

Must Read: Avalanche, Litecoin: 2 altcoins to watch out for in 2022

 cryptocurrency, Loopring, LRC token

Source: © Kviztln | Megapixl.com

Get to know Loopring’s features

Loopring's platform allows its exchanges to avoid high costs and low speed associated with other decentralised exchanges, built on the Ethereum network while maintaining security along the way.

In other words, the network delivers high-throughput, low-cost, non-custodial decentralised crypto exchange and payments by implementing innovations like Zero-Knowledge Rollups, i.e., zk-Rollups.

It is noted that Zero-Knowledge Rollups is a Layer-2 function that runs on top of the main blockchain and helps integrate with the Ethereum network to improve scalability. Moreover, zk-Rollups can bundle hundreds of transactions together into a single data light so as to improve efficiency.

Do Read: What is Loopring DeFi protocol & its LRC token?

Also, Loopring protocol can settle up to 2,025 trades per second while guaranteeing the security matching of Ethereum, its underlying blockchain.

Furthermore, the LRC network aims to leverage advantages of decentralised exchanges, i.e., DEX, while minimising or getting rid of their inefficiencies through innovative hybrid solutions.

The platform does not rely on any outside validators, consensus, or crypto-economic assumptions other than Ethereum and Zero-Knowledge cryptography and is gas-free and completely secure.

Is the Loopring network secured?

The platform is employable both on the Ethereum and Neo blockchains and intends to add support for the Qtum blockchain.

It is noted that the above-mentioned networks have their respective tokens- LRC, LRN, and LRQ, for the Ethereum, Neo and Qtum networks, respectively.

Moreover, these tokens are secured by hash functions of their underlying blockchain platforms.

Where to buy Loopring crypto from?

The crypto is available on several exchanges like Binance, Coinbase Pro, KuCoin, Bithumb, Kraken, Gemini, FTX, Bybit and heaps more.

Related Read: How to buy Loopring (LRC) token?

Bottom Line

The cryptocurrency world records a massively volatile price action. Hence, investment in these new-age digital tokens calls for thorough research and study before taking any decision on putting the money into a particular crypto asset.

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.

Disclaimer

Speak your Mind

Featured Articles