Buy Loopring ($LRC) on Firstrade

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What is Loopring? ($LRC)

Loopring is a decentralized protocol which runs on the Ethereum blockchain network. The software was developed as a protocol to enable ERC20-based decentralized exchanges to build atop of - for benefits such as faster trade settlements and lower trade fees. The network design was envisioned by founder Daniel Wang of China, and launched in 2017.

When the Loopring token launched its ICO in 2017 and raised around $45 million in ETH, it was ordered to return most of the funds, specifically about 80%, due to regulatory restrictions enforced by China. The Loopring network developed further with the remainder of the proceeds.

The associated cryptocurrency to the Loopring network is known by the token symbol $LRC. Registered users Firstrade customers can buy Loopring ($LRC) and other cryptocurrencies on the Firstrade cryptocurrency trading platform.

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More about Loopring ($LRC)

Loopring uses a technology they call zkRollups, which is short for zero-knowledge rollups, a new type of cryptography. ZkRollups enable trades performed on any exchange built atop the Loopring network to have key components of the transaction performed without the need for the Ethereum network, speeding up transaction times in the process.

Transaction times are faster because the components performed by zkRollups would typically take minutes on the ERC20 network. Transactions are faster, and fees are traditionally also lower for the same reason. Loopring native cryptocurrency, $LRC is traded on the Ethereum network, and is used in the network protocol design, deriving its value as a governance token for the DAO community structure.

Loopring is a decentralized autonomous organization, and is therefore not run by any central authority, but instead, its community of token holders. Firstrade cryptocurrency platforms allow customers to buy and sell cryptocurrency. Learn more about Loopring ($LRC) and check the most current cryptocurrency prices on Firstrade.

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