Review on Loopring [NEO] by Alexander Grizma

Loopring is a protocol for creating decentralized exchanges. Besides protocol smart contracts, Loopring also offers a collection of open source software to help you build decentralized exchanges.

Loopring's solution uses ring transactions and order matching to facilitate asset exchanges. In fact, it combines order books from different exchanges.

This allows any exchanges, both decentralized and centralized, to perform order matching using the Loopring protocol.

Part of the open protocol is independence from all networks. That's why Loopring launched its first currency on Ethereum (LRC) and has now issued Loopring NEO tokens (LRN). The biggest advantage of the Loopring exchange is that you don't need to transfer funds to your Loopring account.

In the case of most exchanges, even decentralized ones, customers are forced to transfer money to special exchange wallets.

With Loopring, you can store funds in your own wallet and trade directly from there.

Of course, this creates problems for Loopring, because the exchange does not control the wallet, which means that all actions to verify the legality of transactions and confirm them are performed by smart contracts.

All transactions take place directly between users without intermediaries. Loopring matches and coordinates the terms of the deal, but does not control the assets.

Difficulties can arise if you want to trade between large blockchain ecosystems. The Ethereum smart contract cannot enforce its rules on the NEO blockchain.

Due to the lack of a universal cross-chain solution, Loopring actually has to create a separate project on each chain.

The Loopring NEO ecosystem will be different and operate independently of the Loopring Ethereum ecosystem. It will even have its own development and management team.

A new distribution of LRN tokens is needed because Loopring is essentially launching a completely new version of the network. Everything that they have implemented on Ethereum, they will have to re-implement on NEO.Loopring is one of the first projects trying to work in several blockchain ecosystems at once.

The experiment itself is quite interesting and engaging. It can also turn out to be profitable if Loopring's capitalization continues to grow.

Obtaining an LRN is not easy. You need to keep a close eye on Loopring's blog and their social media pages to keep up with plans for the upcoming snapshot

naaa ouo