It's time to do a video about one of my most well branded yet most mysterious Crypto's, and that's Loopring. I'll admit I was buying Loopring in the beginning with just a general understanding of what the protocol even was. It was a FOMO purchase made after realizing who made up the team behind it. Those of you that have watched my videos before understand that i'm a team first investor. Who is my captain? Who is my QB, and why will they all but guarantee my investment victory? A glance at vast amounts of brain juice that power Loopring's future interests is a FOMG moment. Buy now. Figure it all at later! ... So WTF is it ? ? And who is this FOMO causing team? ?
Loopring will provide the cryptocommunity an essential service. The service will be so useful that once it's implemented it will be the new normal, and never again will crypto currency holders want to operate without it. This service will provides traders, participants, and institutions with a decentralized, automated trade execution system that intelligently implements their trades across the world’s crypto exchanges, shielding them from counterparty risk and reducing their trading costs. So when the LOOP is up and running your crypto, including the coins you are ready to sell, will NEVER be out of your possession until you have received your payment. This is because of another service provided which is that Loopring intermediates trust between blockchains and exchanges, allowing trading members to retain custody of their funds.
Let's look at the OLD WAY that we are STILL using =(
So in today's cryptoverse there is a constant outflow of coins from an active investors wallet. Each and every occurrence is an opportunity for issues to arise that may result in the loss of coins. This loss of coins has been a very real experience for many crypto traders and the stories are prevalent enough that it likely causes some of the largest coin hodlers in the world to avoid the game altogether. Opting instead to just HODL in a hardware or paper wallet. Think about it like this . . What would you do if you had millions of dollars of crypto? Would you be trusting the exchanges to keep your coins safe, in a crypto world where Mt.GOX is still a fresh reminder of what can happen? Probably NOT! . . and what is the end result of this necessary caution? . . A less liquid crypto trading market!
Enter LOOPRING = A NEW WAY FORWARD
So now in a post LOOPRING world a whale is sitting on way to much Ethereum (and it's getting more and more obvious that NEO is the ONE) This WHALE then gives permission to Loopring to sell 1 Million Dollars worth of Ethereum and acquire 1 Million Dollars worth of NEO). Loopring then broadcasts the order to the exchanges/orderbooks and they systematically execute the order. (There is an ingenious way Loopring has determined the pace of order execution but for brevity sake we will leave that for future videos) Once the order has been executed, it will be broadcast to the RING-MINERs. The Ring-Miners then submit the MATCHED orders to the LOOPRING SMART CONTRACT. The Loopring Smart Contract then sends a reward for their service to the ring-miners who go back to mining the loop for other transactions to execute, and at the same time the Loopring Smart Contract makes the transfer of coins to you. The beauty of the process, and why I'm HODLING LRC tokens, is that during this order execution your coins have never left your wallet!!
All parties that participate in a Loopring transaction share in the benefits that LOOPRING provides!!
$47,297,730 is the Current Market Cap!
That means there are about 100 cryptocurrencies with a higher market cap then LRC. 100!
Loopring passed the Howey Test
[–]Encephalomagna[S] 7 points 16 hours ago By passing the Howey Test, Loopring is not classed as a security in the United States. This means that getting listed on other exchanges, such as Poloniex will be much easier!
[–]blockchainery 2 points 4 hours ago Passing the Howey Test is very big news - I don't think the market has appreciated how major this is. Or more likely, this news has flown under the radar for now. Will be holding on to my LRC :