Loopring is a decentralized platform built on the Ethereum network where users should be able to exchange their assets quickly, securely and for the best price. With this, Loopring tries to solve the following three problems:
- Price differences between exchanges; prices on exchanges are based on supply and demand. As demand and supply may differ per exchange, price differences may arise in some cases.
- Spreading liquidity; the number of potential buyers and sellers is spread over several exchanges, which means that liquidity is spread.
- Independence when saving your digital currency; if you have a third party manages your digital currency, you are not completely independent.
Loopring wants to solve the above problems by offering a decentralized and automated system that is connected to many central exchanges.