Loopring LRC to nOS NOS Exchange

Crypto Pair Details: LRC to NOS

Loopring LRC

Loopring is a decentralized exchange protocol and an “automated execution system” built on Ethereum that will allow its users to trade assets across exchanges. It isn’t a decentralized exchange. Rather, it facilitates decentralized exchanging through ring-sharing and order matching. Decentralized and centralized exchanges alike will be able to implement Loopring, giving the exchanges access to cross blockchain and cross exchange liquidity and giving investors access to the best prices available on the broader market. Moreover, Loopring is blockchain agnostic, meaning that any platform that uses smart contracts (e.g., NEO, Ethereum, Qtum) can integrate with Loopring. Serving as its head, Loopring founder Daniel Wang used to run a centralized exchange called Coin Port back in 2014. “At that time,” he told Coin Central in an interview, “[I was] trying to solve the problems of centralized exchanges, and then I realized that it’s not possible. Those problems are inherent to the centralized exchange model.” Thus, he began conceptualizing what would become Loopring. In the past, he’s also held a position as a Google Tech Lead and was a co-founder and VP of Yunrang Technology. Loopring’s CMO, Jay Zhou, was formerly employed by Ernst and Young, helped found SJ Consulting, and used to work in PayPal’s Risk Operations unit. Johnston Chen, the project’s COO, has worked as the chief information officer at 3NOD. Loopring is not a DEX, but a modular protocol for building DEXs on multiple blockchains. We disassemble the component parts of a traditional exchange and offer a set of public smart contracts and decentralized actors in its place. The roles in the network include wallets, relays, liquidity-sharing consortium blockchains, order book browsers, Ring-Miners, and asset tokenization services. Before defining each, we should first understand Loopring orders. At its root, the Loopring protocol is a social protocol in the sense that it relies on coordination amongst members to operate effectively towards a goal. This is not dissimilar to cryptoeconomic protocols at large, and indeed, its usefulness is largely protected by the same mechanisms of coordination problems [20], grim trigger equilibrium, and bounded rationality. The Loopring Protocol can facilitate trading between ERC20 tokens. Loopr needs to convert Ether to Ether Token for trading as Ether is not ERC20 compatible, but Ether Token is. Converting between Ether and Ether Token will be done for you automatically when you submit an order, but if you want to trade frequently, we strongly suggest you to convert some Ether to Ether Token beforehand manually; otherwise each order will take one more blockchain transaction just for the ETH-WETH conversion which takes time and gas. Conversions between ETH and WETH are done on-chain through Ethereum transactions. ETH and WETH are always converted 1:1 which is guaranteed by the WETH smart contract. The WETH smart contract also guarantees the total WETH issued is exactly the total ETH deposited. In other words, ETH and WETH is equiviate in value, and WETH is just the ERC20 form of ETH. The Loopring blockchain project had managed to raise almost 15 million US dollars during the period of the Loopring ICO, as all the regulatory experts watched this unprecedented crowdfunding. Daniel Wang, the founder and the main person behind the Loopring ICO, hand made it very transparent that the interface is quite bad but the underlying mechanism and the Order matching facility is very great. Loopring mining can be initiated very easily by using various performance calculating devices such as CPU, GPU, as well as application specific integrated circuits. The Loopring mining process can be initiated through the high-end Linux systems, according to reports. Loopring mining is basically a metaphor which is not similar to the Bitcoin mining but here the users need to match the specific orders from a huge database. Specifically, Loopring mining requires the usage of the ethereum nodes along with JSON API, IPFS, etc. Check out CoinBureau for the full review of Loopring.

nOS NOS

nOS is a virtual operating system that introduces a new, decentralized internet. On this new internet user data is safe, and it only goes where the user wants it to go. nOS solves key issues surrounding dApp development, deployment, discovery, and interaction, allowing for true adoption of decentralized applications and blockchain technology. Because applications can choose to make their back-ends fully open-source and transparent, this new implementation of the World Wide Web is defined as the Open Internet. On nOS, applications and websites can be deployed in a completely open and decentralized manner by integrating smart contracts, client-side code, and public-key cryptography. Unlike server-side backend code, smart contracts can be open for all to read, allowing users to review how their data will be transmitted before any final commitments to action. Client-side code and other frontend materials can be distributed via nOS Filesystem, a decentralized file sharing protocol that allows for secure and transparent distribution of static files. By serving both backend logic and frontend material in an open-source, decentralized manner, true transparency between user and application can be achieved. dApps that are deployed to nOS can be accessed through nOS Client, a software solution for desktop and mobile that (among other features) introduces nOS Browser. nOS Browser functions as a web browser, with the added benefit that it integrates with the nOS Protocol, a blockchain-powered web protocol that facilitates secure and open accessibility of nOS dApps. The nOS Protocol resolves domain names that exist on nOS Name Service, a blockchain-powered decentralized implementation of a Domain Name Service, and allows for dApps to register domain names which are discoverable on nOS (e.g. mydapp.neo or my-dapp.eth). The dApp Gateway is a user-friendly dApp discovery platform (or “App Store”) where rankings are decided in a completely decentralized manner via Decentralized Authority. In order to achieve the features such as the ones described above, nOS is powered by the nOS Utility Token. The nOS Utility Token employs various staking and reward utilities which are intended for developers who wish to deploy and maintain dApps on nOS, and for end-users who wish to practice governance by Decentralized Authority. nOS eliminates the need for end-users to manually exchange crypto-currencies in order to make use of various dApps. By integrating crypto-currency exchange APIs, nOS Client automatically converts primary blockchain platform currencies (e.g. NEO/GAS for NEO, ETH for Ethereum) into the required amount of application tokens that are needed to make specific transactions or invocations.

SOURCE: COINGECKO

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