Loopring opens route to AI blockchain trading

We’re expanding our blockchain cryptocurrency vocabulary all the time.

As such, Loopring may be the next term you add to your technology lexicon.

Loopring is an open source and multilateral token exchange protocol based on smart contracts for Decentralised EXchanges (DEXs) on the Ethereum blockchain.

Ethereum is also open-source. It is a public distributed blockchain platform with smart contract (scripting) functionality for online contractual agreements.

Loopring allows for multiple exchanges to mix and match orders. It also allows ‘off-chain’ order-matching. It also allows ‘on-chain’ transaction clearing and payment.

In terms of use, Loopring is said to tackle the ‘traditional’ issues of scalability and low liquidity — and is now introducing an update to its protocol and utility model that requires exchanges to stake its LRC token for reputation. 

Loopring is ebullient about its open source status and says that it offers open participation. 

“Anyone can become a DEX with our software: you can join our DEX network to share liquidity, or create and manage your own DEX network. Sharing liquidity greatly improves your competitive advantage,” states the organisation, on its home pages.

The Loopring protocol is blockchain agnostic and can be deployed on any blockchain with smart contract capability.

Loopring says it has made it possible for AI-based smart agents/robots to trade tokens without human assistance. This could be key for the future economy where AI-based automatons will think, own, trade and perhaps evolve in ways that we have yet to imagine.

 

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