Review on Loopring [NEO] by Olugbenga Ajayi
Loopring platform solve problems inherent in centralized exchange
Loopring is a child cryptoproject from Daniel Wang who already created a centralized exchange known as coin port bport but was met with disappointment due to the problems inherent in both centralized and decentralized exchange.
In other to cater for these, he started working on Loopring, which is an open source, non custodial exchange which will provide a platform for east pool of orders from other exchanges both centralized and decentralized exchange using order matching technology. Hence loopring itself is not an exchange but a mediator or front for exchange platforms. It will bring about what I call a platform for cross trading between exchanges both centralized and decentralized.
Alreadythe project token LRC, an erc-20 token is gaining traction on bittrex and other exchanges. It also offers user full control over their assets and guarantee security, improved transparency and throughput.
However this project is yet in its developmental stage and many of its proposed features and still under development..
Pros
- It provides a platform for cross platform trading
- It improves throughput, transparency and security
- User have full custody of his funds
- Users can access good price for digital assets
Cons
- The project is yet in its developmental stage and many of its proposed features are yet to be launched
