What is Loopring (LRC)?

Website: https://loopring.org/#/

Maximum Supply: 1,374,513,896 LRC

Total Supply: 1,373,873,440 LRC

Circulating Supply: 1,225,612,324 LRC

Explorers: Loopring Explorer

Whitepaper: Loopring Whitepaper

What is Loopring (LRC)?

LRC is the Ethereum-based cryptocurrency from Loopring, an open protocol designed for the creation of decentralized crypto exchanges. Loopring's goal is to combine centralized order matching with order placement on the decentralized blockchain into a hybridized product that will take the best of both centralized and decentralized exchanges.

In 2020, the average daily trading volume of the entire cryptocurrency market fluctuated in the range of around $50-200 million. Most of these transactions take place on centralized cryptocurrency exchanges, online platforms run by private companies that store users' funds and facilitate the matching of buy and sell orders. The main idea behind Loopring is to combine elements of decentralized and decentralized cryptocurrency exchanges to create a protocol that will take advantage of its unique advantages and eliminate inefficiencies. The Loopring protocol aims to preserve the advantages of decentralized exchanges while reducing or eliminating their inefficiencies through innovative hybrid solutions. Loopring can run on the Ethereum and Neo blockchains, with plans to add support to the Qtum blockchain.

When and by whom was Loopring (LRC) Developed?

The founder and current CEO of the Loopring Foundation, which oversees the development of the Loopring protocol, is Daniel Wang, a software engineer and entrepreneur based in Shanghai, China. LRC tokens became publicly available during an initial coin offering (ICO) in August 2017, while the Loopring protocol was first deployed on the Ethereum mainnet in December 2019.