There are many cryptocurrency projects which seek to solve problems in the “real world”. We’ve got Elastos trying to create a new, secure internet. We’ve got Ontology trying to create digital identities that will eliminate the need for passwords and trusted parties that hold (but more often lose) our precious personal data. We’ve got Bitcoin trying to be a decentralized digital cash that anyone anywhere can use.
On the other hand, we have projects which are focusing on solved problems related to Bitcoin. ARK is an example, creating interoperability between blockchains. Loopring is in this latter category. It’s pretty much impossible to explain to someone who knows nothing about blockchain what Loopring is and what it’s trying to do. But for blockchain enthusiasts, Loopring couldn’t be more exciting.
Loopring is trying to change what’s possible for cryptocurrency exchanges. More specifically, they’re trying to eliminate cryptocurrency exchanges by introducing a new paradigm. If they’re successful, you’ll soon never have to remove your coins from your safe personal wallet. Any exchanges of one coin for another can be initiated and completed through Loopring, until – POOF – your new coins have appeared.
Loopring has a lot of amazing stuff planned for the next few months. Here’s why we think it could still prove to be one of the great crypto investments of 2018.
What is Loopring LRC?
When we use large centralized exchanges like Bittrex, we’re taking on a certain amount of risk. Bittrex is great, but it might be hacked, they might not have liquidity for the coins you want to buy, and they might not have the best price when compared to other centralized exchanges. This is true for any exchange.
Meanwhile, numerous new protocols are trying to create amazing decentralized exchanges. These exchanges will be operated by smart contract, and will employ various methods to get you the coins you want faster, cheaper, and more securely than any present method. There are many reasons to believe that Loopring is the most likely to change the game, even when compared to quality competitors like 0x and Kyber.
The next iteration of the Loopring wallet (due in May) will be a place you can store your coins safely. When you want to trade one coin for another, you won’t have to send your coins from your wallet to a centralized exchange. Instead, all you’ll have to do is initiate a trade through the Loopring network, then Loopring will scour the entire ecosystem for traders who would like to complete your trade, using Ring Mining. When your order is complete, your new coins will simply appear in your wallet. Ultimate convenience and security.
Final Thoughts on Loopring LRC
Loopring is bringing groundbreaking technology into the blockchain space. Their methods stand to change the way cryptocurrencies are bought and sold, making life much easier for everyone and attracting new users to space. With an open API, many apps will be built using the Loopring technology, and one day we could all be using Loopring without even realizing it.
Loopring LRC represents a good investment in the short term as well. As new releases approach, the Loopring price will increase. As new partnerships form, an additional blockchain-specific currency will be given to LRC holders for free! Loopring LRC represents a massive opportunity for cryptocurrency investors and users of these technologies in general.
Get in while the getting’s good. Loopring crashed along with everything else during February, and the current price is well below it’s all-time high. We expect Loopring to break it’s previous records later this year, so this may be the very last opportunity to get in at a price this good. No one can predict the future, but we think that Loopring is one of the safest bets you can make in crypto this year.