Loopring announces the launch of its new decentralized, non-custodial exchange based on zkRollup technology.
A beta version capable of accommodating precisely 1 million users for the moment.
The bottleneck of the platform lies in the relayer cluster of zkRollup.
A challenge for the team that is constraining the capacity of the tech, Loopring could potentially reach more than 2000 tps (transactions per second).
Since Ethereum was born, decentralized trading platforms have become a dream come true thanks to the morphology of the Ethereum blockchain that allows their implementation.
Over time, however, there have been difficulties in matching the performance of centralized exchanges. This performance gap has facilitated the emergence of companies with billion-dollar revenues, able to channel most of the trading.
A centralized database will always be more and more performative, but as the word itself suggests, it is in the hands of a centralized body, which is not very appealing to devotees of decentralization.
Approaching sufficient performance to attract users is now possible thanks to the progress made in developments inside and outside the Ethereum ecosystem.
First implemented application of zkRollup leaning on the Ethereum mainnet. A 100% non-custodial exchange (they don’t hold any private keys) that allows performances comparable to those of the first generation DEXs, operating purely on-chain.
The team also believes that Loopring’s performance is sufficient for professional operators and market makers. It will be possible to implement algorithmic strategies and set up automated trading robots.
Loopring DEX in numbers:
- 100% non-custodial;
- Throughput 1000 times more performing than traditional ones;
- 600 times cheaper transaction and exchange fees;
- 1,000,000 max users in the Beta version;
- Cost of $0.0025 per transaction.
What the Loopring team is working on
The team doesn’t seem to be satisfied with the current connection to MetaMask.
A project based in China undoubtedly wants to be able to give maximum accessibility to users from the East, who are often not always happy with Google Chrome extensions.
- Improved User experience;
- Modular design for future development;
- Improvement of ZKP libraries for increased performance;
- Resolution of problems related to the relayer that limits TPS;
- Removal of the limit of one million users to 64 million;
- Implementation of a Smart Wallet;
- Troubleshooting problems already found and available on GitHub.