Review on Loopring [NEO] by francis fernandez
Loopring NEO: a tool to make exchanges without leaving the blockchain and without third-party intermediation
Loopring (NEO) is a digital asset that works on the NEO blockchain infrastructure to allow crypto-asset exchange, storage and trading transactions in a secure network without third-party intermediation. Token: The network's cryptocurrency is identified by the acronym LRC and has a maximum supply of 113,602,931 LRN that are fully in circulation. Technology: Loopring uses a protocol that allows managing the commercialization of digital currencies directly from its platform without the need to send them to another exchange network through the use of smart contracts that execute the orders once the best price is reached. The network protocol is responsible for defragmenting the order through the atomization process to obtain prices in decentralized networks. Token purchase: The cryptocurrency can be acquired through many Ethereum-compatible exchanges due to its ERC-20 token compatibility; and its storage can be made in the network's native wallet or in another compatible with its cryptocurrency.
Token features and utilities: • Serves as a working tool for developers thanks to its open access code. • Allows decentralized exchanges.
• Serves as a wallet to store multiple cryptocurrencies safely.
• It is used to carry out trading at low cost of fees.
• It is a highly scalable platform.
• It has an auditable and decentralized platform.
• Users are constantly in control of their assets
Pros
- It is an auditable and open source network.
- It uses low gas consumption because its transactions are carried out off-chain.
- It allows to carry out a large volume of transactions quickly.
Cons
- Its value is unstable.
