This article was first published on Loopring Protocol - Medium
Loopring CTO Steve Guo and CMO Jay Zhou attended DevCon5 and other Osaka blockchain week events. Besides meeting and learning from the extraordinary Ethereum community, we also shared some DEX and zero-knowledge proofs (ZKPs) developments on our side.
This year, in our opinion, Ethereum 2.0 was the main topic at DevCon. Following that, other prominent topics were Proof of Stake, L2 Scaling, Governance, and Enterprise solutions. Of course, zero-knowledge proofs — and their super powers in privacy preservation and scaling — have been a consistent focus all year long, especially these last few months.
We’ve seen massive interest in zero-knowledge proofs technology from the entire Ethereum community this year.
At DevCon and Off DevCon events, we spoke about how Loopring protocol 3.0 utilizes zkSNARKs as a secure DEX scaling solution.
As a pioneering ZKPs research team, Loopring protocol 3.0 tackles the scalability problem of decentralized exchanges utilizing zkSNARKs, bringing highly scalable, non-custodial trading to the masses. Our current implementation (on Ethereum, post-Istanbul) achieves 1400 trades per second, with on-chain data availability (aka, zkRollup). Correspondingly, settlement costs are fractions of a penny per trade (~<$0.0015).
Furthermore, we were happy to hear at DevCon that StarkWare would launch the first STARK-powered exchange by Jan 2020. It’s great to see more developers and players using ZKPs for all sorts of solutions, and gives us faith this is a promising path forward.
Finally, we want to tell our community that the first Loopring 3.0 integrated DEX will launch soon. This will be the world’s first SNARK-powered exchange. Stay Tuned!
Note: Until the first Loopring v3 SNARK-powered DEX is up and running, Dolomite, built on Loopring v2.3, is an incredible experience :)....
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Loopring Protocol - Medium