The coin blockchain functions as an independent exchange service and wants to make trading with crypto currencies easier and more decentralized. Liquidity and transparency of the block chain could speak for an excellent forecast.
Bitcoin Code – What is this crypto currency?
The Loopring Crypto currency is a fee charged for trading in crypto currencies on the blockchain. The LRC Coin and its blockchain are based on the Ethereum blockchain and make active use of its Smart Contracts. Read this Bitcoin Code system feedback and this makes it possible to use the Loopring block chain as a trading centre. Crypto currencies can be secured in the wallet to trade them directly from there, unlike the file-sharing services or other blockchains with a similar approach, where you usually have to upload the coins to the platform. The aim of the development is to create a platform on which trading with ERC20 tokens is possible, i.e. crypto currencies based on Ethereum. The crypto currency is blockchain “agnostic”, so it is theoretically compatible with all crypto currencies.
Trading on the platform is very sophisticated: If you want to exchange a crypto currency, you place an order via the Loopring Wallet. This order is sent to the Smart Contracts and several transfer nodes. With the match ring, the Smart Contracts automatically ensure that the coins are exchanged at the conditions specified in the order. The Ring Miners also contribute to this. They establish the connection between the client and the crypto exchanges and receive a reward in the form of fees from LRC Coins.
There is also the possibility that he will receive a portion of the profit margin should he find a better offer. However, the exchange is still produced by the Smart Contracts, the Ring Miners only provide the infrastructure. This ensures that Ring Miners cannot manipulate the trade, because the Smart Contracts are impartial. The Smat Contracts and the Match-Rings ensure that the conditions for the exchange are right on both sides.
If this is not the case, the match rings circulate until the desired trading pair is found. The match ring should also adapt automatically if something changes in the conditions. The advantage of this system is that all crypto currencies are on the wallet at all times. Central file sharing networks have already fallen victim to attacks, but the coins are safer on the wallet.