Open protocol for building decentralized exchanges
Loopring is one of the oldest protocols of decentralized exchanges on the Ethereum blockchain. Started in 2017, Loopring has been updated several times and the latest version live is Loopring 3.0. Loopring claims that with 3.0, they can settle up to 2k trades per second using zkRollup, guaranteeing the same level of security as the underlying Ethereum blockchain.
Loopring’s decentralized trading exchange supports four trading pairs while the protocol is open source. This means anyone can use and customize it to build an open protocol for scalable, non-custodial, order book-based exchanges using zero-knowledge proofs. Loopring has its own token called LRC where holders can stake them to earn part of the protocol fees.