Loopring 3.6 is Code Complete and Security Audit Has Begun

This article was first published on Loopring Protocol - Medium

After four months of intensive research, implementation, and testing, today we made a 3.6 pre-release (3.6.0) and shipped it to Least Authority for audit. This marks a tremendous milestone for the Loopring team.

Photo by Barbara Sheldrake

Loopring 3.6 is a tremendous improvement over the current 3.1 version with many great features, for example:

  • It can mix and batch process different types of layer-2 transactions into the same block, which greatly improved the relayer’s batching efficiency and reduced the ZKP prover cost.
  • Explicit account activation for layer-2 is no longer required. All Ethereum addresses are activated by default thus can receive funds on layer-2.
  • The capacity is now much larger. It supports up to 2³² (~4.3 billion) accounts, 2¹⁶ (65536) tokens, and 2³² (~4.3 billion) order IDs.
  • It supports much flexible deposits and withdrawals. Now a user can deposit to another user’s layer-2 account and can withdraw to any Ethereum address on layer-1.
  • It also supports different layer-2 transaction authentication using ECDSA signature, EdDSA signature, and onchain hash.
  • It supports Agents — an Agent is smart contracts authorized by a user to act on behalf of the user to transact and interact with Loopring. The Agent design enables extensibility.
  • All withdrawals are potentially fast-withdrawals as long as there are liquidity providers willing to “accelerate” these withdrawals —we call it relayer-side speed-up. All fast withdrawal transfers can even be further “sped up” by users while the Ethereum transactions are pending in Ethereum’s mempool (and the original fast withdrawal transfers will be dropped) — we call this client-side speed-up. Fast withdrawal is built using the Agent design....

To keep reading, please go to the original article at:
Loopring Protocol - Medium

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