[LRC] Loopring is making its way to the top 10 coin and here is why!

Loopring (LRC) is an open protocol ERC20 token. The protocol's goal is to become a hybrid ecosystem. It aims to facilitate centralized order-matching exchanges with decentralized on-chain order settlement exchanges, among other things.

It uses a Zero-Knowledge Rollup (zk-Rollup) which combines Ethereum smart contracts with Zero-Knowledge (ZK) circuits to create safe and scalable DEXes and AMMs. The zk-Rollup protocol was the first to be deployed on the Ethereum network, ushering in the layer 2 scaling (L2) era. Anyone can create and run their own zk-Rollups and products using the Loopring protocol at it is high speed and there is no need to pay any gas fees.

However, even though LRC has potential, there are many competitors as well such as:

• Polygon which is a platform that allows developers to more efficiently deploy Ethereum-based DApps.
• xDai side chain that allows transaction processing on a side chain, improving speed and lower fees

Looking forward to see how LRC can stand out compared to its competitors in the next few years.

Source

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https://preview.redd.it/rfdu64adx1481.png?1329&format=png&auto=webp&s=615d24317dc835858744466f11b3cff02754cf2e

M00OSE comment below is additional information for us to take note. Thank you for highlighting them:

"Feel like we’ve entered a point of misinformation with all the Loopring hype at this point.

Loopring does not compete with Polygon and xDai. They are side chains with general purposes, meaning you can build all sorts of Dapps and games on top of them. Loopring only supports the building of wallets, dexes, AMMs, and payment apps.

The advantage of Loopring is that it’s built on Ethereum’s security and consensus whereas side chains are only able to leverage it. More accurately, Loopring competes with payment-only zkRollups like PolygonHermez.

I’m not sure if it’s in their roadmap but they can compete against side chains and other Rollups—specifically optimistic Rollups—in the future by joining the likes of ZkSync, Starknet, and PolygonMiden."

Edit 2: Thank you everyone for the awards but please spend it on LRC instead!