On What Loopring Is and Isn’t

This article was first published on Loopring Protocol - Medium
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A look into Loopring — the protocol, products, and vision. This post is part history, part prediction, and seeks to address what Loopring is, and equally important, what it is not.

In recent conversations, I have often found myself saying: “Loopring is a bit of a different beast”, or, “Loopring doesn’t have an exact analog”.

This comes up if I am discussing DEX protocols/products, Ethereum L2s/rollups, payments, and more.

I figured it is time to put what I mean by this on paper, since knowing what a thing is — or is meant to be — is quite important in measuring its progress.

TLDR

What Loopring is

  • An application-specific zkRollup protocol, a relayer, an L2 non-custodial exchange, a smart wallet — but eventually it will just be Loopring, where you use, trade, grow, and store your assets.
  • Aiming to become the leading user-facing financial services application in the world. Trading, investing, payments, ‘banking’. The gateway of choice for users to experience the parallel financial system of Ethereum — in all its glory and security.

What Loopring is not

  • A generalizable zkRollup seeking to support arbitrary protocols or functionality deployed atop it.
  • An L2 focusing on having other projects build their products atop it.

Loopring at large

It’s true that Loopring is fundamentally ‘different’ — vs other L2s, and vs other DEXes or payment platforms. It operates across the stack, consists of multiple components, and at any one time, a reference to Loopring can mean a few things. In our mind, and the mind of our community, Loopring is the collective — all of the components tied together and working in tandem. In its whole, it can be thought of as Loopring, the project. But let’s see what actually makes up Loopring, the project.

  • Loopring protocol is an open source Ethereum zkRollup protocol — a layer-2 for securely scaling exchanges and payments.
  • Loopring relayer is a closed source zkRollup relayer — the backend (operator) that does all the off-chain ...

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

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