Buy Loopring (LRC)
What is Loopring?
Loopring is a decentralised trading protocol built on the Ethereum blockchain. It leverages a technology known as Zero-Knowledge Rollups (zk-Rollups) to address the limitations of traditional and decentralised exchanges by providing an interoperable, efficient, and secure trading platform. The protocol is non-custodial, meaning users retain control over their assets, and it supports features like high throughput, low transaction costs, and off-chain order matching.
How does Loopring work?
Loopring operates using Zero-Knowledge Rollups (zk-Rollups), which enable the protocol to bundle transactions off-chain and settle them on-chain, ensuring high transaction speeds and reduced costs. This technology enhances scalability while maintaining security and decentralisation. Loopring smart contracts on Ethereum manage trading rules and liquidity aggregation, ensuring secure and efficient exchanges. The system verifies transactions using zk-SNARKs, specifically the Groth16 proving system, ensuring that each transaction update is valid.
What are the potential use cases for Loopring?
Loopring can be used in various sectors, such as:
- Decentralised Exchanges (DEXs): Supporting non-custodial, orderbook-based DEXs and integrating both order book and AMM models.
- NFT Marketplaces: Allowing for the creation of marketplaces with reduced fees and faster transactions.
- Blockchain Gaming: Through Loopring Gaming, integrating NFTs for in-game items and rewards.
- Digital Asset Management: Ensuring user control over assets, enhancing security against hacks or insolvency.
Moreover, Loopring has partnerships with companies like Changelly for trading integration and Chainlink for oracle services, demonstrating its broad applicability within the DeFi ecosystem.
What is the history of Loopring?
Loopring was founded in 2017 by Daniel Wang. It began with an ICO that raised $45 million worth of Ethereum. The protocol initially intended to expand on NEO and QTUM networks but later focused solely on Ethereum. Over the years, Loopring has released several updates, with the latest being Loopring 3.8, featuring advancements like zk-Rollup integration for high-speed transactions. Its market presence expanded with the launch of Loopring.io in 2020, a platform that blends AMM and order-book models. Efforts like integrating with Google Cloud and initiatives like Loopring Gaming highlight its continuous evolution and commitment to scalability and security.
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Frequently Asked Questions (FAQs)
What is the current price of Loopring (LRC)?
The Loopring price is $0.48571202 AUD, representing a +0.34% from the day prior.
Where is the best place to buy Loopring (LRC) in Australia?
The best place to buy Loopring (LRC) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Loopring (LRC) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Loopring (LRC)?
The trading volume of Loopring (LRC) is $126.2M AUD in the last 24hrs, representing a +0.34% from the day prior.
How can I buy Loopring (LRC)?
Loopring (LRC) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Loopring (LRC)?
The current market cap of Loopring (LRC) is $599.2M AUD.
Can I convert Loopring (LRC) to cash?
Yes - With Coinstash you can convert your Loopring (LRC) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Loopring (LRC) are there?
The current circulating supply of Loopring (LRC) is 1.2B.
Is Coinstash a safe place to buy Loopring (LRC) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Loopring (LRC) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices here.