This article was first published on Loopring Protocol - Medium
Loopring is the second project to have their ERC20 token, LRC, be integrated into Wanchain. Wanchain 3.0 is currently capable of supporting cross-chain functionality for Ethereum and Bitcoin.
As a blockchain agnostic exchange protocol, Loopring has always expressly stated that, in terms of cross-chain capabilities, we will defer to dedicated, expert teams in that space — hopefully integrating the best of the emergent solutions.
In that light, we’re glad to have been speaking with the Wanchain team, and exploring DEX-specific cross-chain considerations.
The LRC token has been integrated into Wanchain 3.0, bringing it full interoperability with Bitcoin, and in future, other chains they connect as well. Wanchain ported their first ERC20 tokens, DAI and MKR, to their platform last week.
Loopring is fundamentally a set of settlement-enforcing smart contracts and off-chain order messaging systems — the components to create flexible, non-custodial trading platforms.
The settlement logic could be deployed on top of any smart contract platform, and indeed, we have deployed on multiple: of course, Ethereum, on which we’ve been live on mainnet for 1 year (and have just deployed Loopring 2.0), and on NEO. This means that Loopring-built DEXs allow trustless trade between ERC20 tokens, and NEP5 tokens, respectively — but not interchangeably.
This is important: although we can deploy on multiple chains, the value thereon is captive to that chain; it cannot seamlessly ‘speak’ to assets on other chains, nor exchange across. In fact, when deploying on NEO, we issued a new token, LRN (Loopring NEO), since LRC (Loopring Ethereum) could not satisfy its role on a different chain.
There are many great efforts trying to lay interoperability over the disparate chains that currently exist and hold value. Right now, the greatest demand is for Bitcoin and Ethereum to interoperate.
Wanchain, with their recent 3.0 release, is a blockchain platform ...
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Loopring Protocol - Medium