Loopring (LRC) Price

What is Loopring?

]Loopring is a decentralised exchange that is open-source in nature. It offers participants an automated trade execution system where they can buy and sell currencies without being reliant on a single central authority. The main aim of the platform is to reduce the trading cost and protect users from the risk of counterparty. With the help of a hybrid exchange model, Loopring incorporates both centralized and decentralized elements. Loopring has developed a system that is useful for all stock exchanges instead of creating a single decentralized exchange solution. The platform aims to create a network to benefit operators, reduce risk and also improve liquidity. Loopring's generalised token notation is called LRx while the token on Ethereum is called LRC.

Features of Loopring

1. Decentralised: Loopring focuses on decentralisation. The funds remain under their control in a decentralized smart contract on the blockchain.

1. Reduced Counterparty and Exchange Risk: With Loopring, members are not required to send tokens to exchanges for custody. Another useful feature is the ability for members to transfer their tokens even after orders are submitted. The trading amount is automatically adjusted by loopring at the initial price. Moreover, the platform protects members from threats such as exchange bankruptcies and DDOS attack.