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Loopring / LRC – The Protocol of the Future Uncategorized 

Loopring / LRC – The Protocol of the Future

what’s going on guys crypto lurk here today we’re gonna be talking about you bring very exciting stuff from looking at what they’re doing with the team what competitions like just what the heck loop ring actually does all that and more after a quick shout out everyone who has been hitting that like button of course to all the subscribers new and old and if you’re not subscribed yet there’s a button right just down below there go ahead and hit it up and of course if you want to up your support you can always follow me along over on steam at comm or become a patron over on patreon of course big shout out to Ben Tao the newest patron over there on patreon really really appreciate your support thanks so much for that and of course quick disclaimer guys this is not professional financial advice this is just a dude talking about crypto currencies well let’s get into it so what the heck is loop ring and what does it do decentralized exchange and open protocol loop ring is a protocol and that’s that’s the thing we can’t even mind here they’re not setting up an exchange there will not be a loop ring exchange they are facilitating exchange in a decentralized manner it is a back-end product essentially you as a user probably won’t even realize you’re using loop ring when they start operating for different decentralized exchanges but you will be using looping technology it’ll be like a lot of other programs that you use potentially every day but you don’t even know you’re using them because they’re all back office kind of things and loop ring is gonna be one of those very things now it’s a very interesting project and they do are aiming to do a lot now one thing that is very important to point out as potentially limiting factor at the start is they’re only dealing with ERC 20 tokens so etherion based tokens loop ring itself is in the IRC 20 token now look the big thing we have to keep an eye out here for is this they have some really good partnerships obviously was cute um and neo now cute um is trying to put itself between you know Bitcoin and aetherium so it their long-term plan is to be operational with every blockchain obviously and photos like this one here hanging out the nem dudes over in Shanghai it’s coming it’d be nice to see actually if nem was one of the first block chains they get in with that would be great for nem great for a great for loop ring as well so pretty cool pretty cool photo like that now look we need to get in some of the details here of how it actually works basically your money will not go on an exchange with decentralized exchanges instead you will transact outside of the exchange now this helps defer risk for basically everybody involved at first risk for the exchange it defers risk for you as well you keep the money in your account and you trade out from there there’s a lot of other bonus bonuses that come with us as well things like ring matching which really is about a pooling of orders in order to lower exchange fees that’s a quite simple way to look at ring matching very actually very powerful you know order sharing as well so this would let you do things like say you want to get ten aetherium for example and you’re buying that with your loop ring let’s say now look if you go to just one exchange you’re basically stuck with the price that’s at that exchange but with order sharing and the the whole concept of loop ring you would actually be able to get the best prices at ten different exchanges so okay you buy someone’s got some aetherium for sale over on bitshares for example and you buy some over there but the next best price actually is not on bitshares it’s over on by Nance and so you you get some from there and so you actually it goes back and forth and get you the best price around the exchanges I think that’s really fantastic because sometimes you see the arbitrage going on between exchanges and there can be pretty big differences in some coins sometimes so it actually really good if some to see this protocol that actually goes above that and helps really alleviate this pressure on traders trying to find the best pricing on the exchange which is kind of crazy so obviously this in the end means more profit for traders minimized fees helps eliminate counterparty risk as well now counterparty risk what the heck is counterparty risk counterparty risk is the the problem of the other party not holding up to their contract now not such a big problem when you go to like bit wrecks for example but there are situations in which that could be problematic on such a decentralized trustless exchange area and so they seek to alleviate that as well setting everything up in smart tracks court smart contracts come read through the white paper they give a lot of details about how those kind of smart contracts work what happens with timeouts and different things like this so it’s a very very smart clever white paper you know tough to read it sounds very technical but it’s well worth reading if you are interested in investing in loop ring do come over here and check it out it’s actually quite interesting what they’re trying to do fairly active social media which of course always to be appreciated the guys over at loop bring Orkut launching something called this is this is hilarious the Fellowship of the Ring it’ll of course be officially funded by the loop ring foundation now this is in as they say in the same spirit of the city of Zion so this is a basically a community of developers working on loop ring trying to attract those open-source developers to their platform and they’ll of course be rewarded in loop ring tokens so that’s great I’m really happy to see that so if you’d like to you know get in the council and defeat defeats our on and you know takedown Mordor get amongst the guys if you’re a developer a lot of great opportunities out there for developers in the crypto space you know a lot of crypto companies that are giving out awesome rewards of course in their coins you know neo is always giving out fantastic rewards for example and a lot of other a lot of other coins are too so loot brings just one of the many one of the many giving out a bi-weekly developer update I really like coins that stay active and update people want the heck’s going on and say hey we’ve been doing this check this out appreciate it guys appreciate it team’s pretty sweet a lot of guys X Google X PayPal really good in that space but everybody has got the most excited about this because of who some of the advisors are oh who’s this guy da Hong Fei oh he’s the founder of knio knio knio this is obviously caused a lot of stir in space and i think is one of the reasons why people are really putting themselves behind loop ring and getting excited about loop ring because obviously neo is a fantastic project everyone’s super excited about new a super bowl a’shawn neo and to see you know da Hong Fei being an advisor to this of course fantastic the other advisers are good too but obviously the name everyone look is looking at here is dog Fei and so he’s added a lot I think to the credibility of this entire project roadmap pretty simple pretty simple obviously at the moment they are just looking at trying to get listed on exchanges we’re gonna talk about some of the drama with that here in a minute but still next year still a lot of stuff coming for them open source ring mining software and they haven’t you got a wallet yet guys but they want to watch that launched launched their own trading wallet with the loop ring protocol watch out for that to come that’ll be great when it happens it will to trade all of your ERC 20 tokens off of their wallet he using the loop ring protocol that’ll be a powerful tool still a lot to happen with loop ring they’re just getting started guys they’re just gonna started now I’ve covered this in my news video the other day but I thought this is worth covering again because the city of Zion are going to be launching something called the neon meta exchange the neon meta exchange now this is going to be done in collaboration with the guys over at loop ring very interesting very very interesting so keep an eye on that project keep an eye on that project right there guys now loop ring another one of those projects that came out the exact wrong time they basically launched and then a few days later the whole China thing happened and so for example they were delisted from by Nance per the request a loop ring team because of course they needed to keep in line with Chinese regulations and of course so did by Nance have to keep in line with Chinese regulations so they a delisted from by Nance and unfortunately they haven’t been relisted there yet hopefully would see that at some point in the future but after China canceled its I SEOs all the recent I SEOs had to basically you know refund the investors and they got D listed some other new favorites like Tron for example got hit by that as well which is unfortunate but this is what happens to China guys miss China I like that in the white paper they go to a lot of effort to actually talk about other decentralized protocols and basically what the problems are with those and then how loop rings going to improve on that situation so they talk about bitshares and of course bitshares it’s taken a real hit recently of the decentralized exchange but they also talked about Oh X protocol which is probably the most similar to to loop ring so I like how they actually go through and say hey you know what here is why basically we’re better than no expert at all so for example limitations like only being able to accept OTC orders having unclear competing mechanism of different exchanges and lacking a protection mechanism for Myers so interesting interesting a hundred million dollar market cap a course for the O X protocol so they’re not doing bad by any means over there and of course they talk about why they’re better than vainqueur as well again you guys come over here and check out check out the white paper and read through the details if you’re interested in learning a bit more about some of those specific details but why they think they’re better if you are a loop ring protocol holder there’s an interesting opportunity they have going right now it’s called the long term incentive program if you want to get yourself some loop ring and if you want to get it earning interest for you you can invest in basically a deposit so you deposit your money with them for a period of between eighteen and thirty six months from the time the original apposite and they will pay you out an interest payment on that interesting and then of course you’ll get your deposit back after the 18 to 36 month period whatever period you decide to invest for that’s an interesting opportunity it’s currently being offered it will run out the midterm incentive program for example has already been suspended but the still opens participation for the long term project if that’s something you want to get involved in now look there’s a 1.4 billion of these in total supply only a small portion currently in circulating supplies so we will see over time more and more of those come in market cap is only at 52 million at the moment which isn’t super high remember o X protocol is almost at a hundred million bank or is almost at a hundred million as well these protocols seem to be very popular at the moment obviously this kind of back-office technology will be institutionally important and a massive way for decentralized exchanges of course I suppose the question be why would decentralized exchange is simply not to implement this very technology themselves why do they need loop ring but you might say the same about a lot of different software programs why why don’t you just develop your own software well why would we when someone else has already done it so perhaps that’s something you keep in mind as well if you’re gonna be investing in loop ring although it’s very interesting project I really really do like it although it’s you know it’s it’s not one of those things would you use this is this something that in your day to day life well I’m gonna go use my loop ring well maybe when they have the wallet going actually when they have their exchange wallet going that’s a potentially very powerful tool and a real game-changer in the space actually you wouldn’t even need to go to an exchange just trade straight out your loop ring wallet when they get that going wow very early days for loop ring potentially a really good time to invest obviously not trading on too many exchanges at the moment because of course it has been delisted from for example finance but straight enough exchanges at the moment seen a bit of an up see down Z and it’s trading so far course bit back down if you’re gonna try and pick yourself up some loop ring I just say you can probably get it back now at these prices over here which is sort of around the 1,500 Satoshi mark not too far away from that we’re at 3,000 so she’s currently may not go back down that far though it really may not go back down that far but if you take this on a long-term perspective remember most of this stuff isn’t even coming out till next year if you really want to go big get yourself some loop ring get a few thousand of them take them up on that investment offer throw them in eighteen months later come back collect your money with a bonus and by then loop ring should have actually taken off their wallet will be out they’ll actually be implemented in some different exchanges using their protocols so that would be my recommendation with this one if you are gonna get involved take them up on their offer but you got to keep in mind your money will be locked up for 18 to 36 months whatever you decide to have it locked up for so that’s something to keep mine as well but otherwise very project loop ring guys what do you think about loop ring hit me up down below be really really curious to see what you guys think about this too much risk because it’s a cuz it’s Chinese I don’t think so I think it’s gonna do ok really interesting tech idea here so guys that’s all from the crypto LARC thank you so so much for tuning in long live the blockchain and peace out till next time guys

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