Loopring: Encrypting money markets requires a centralized tokens trading agreement


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nThe earliest, encrypted currency circle is from a handful of proficient in computer science and cryptography geeks began. This will always see the hackers figure, they are free in the network of the world are not prominent corner. Slowly, the circle of encrypted money is known for more people, to meet the needs of more people’s transactions, the exchange came into being. In the eyes of hackers, the exchange is the most worthwhile time to focus on the asset paradise, they are looking for all kinds of loopholes, because the success of “black” once, you can steal a substantial digital assets.n
nIn the world of encrypted money, the exchange is one of the most centralized products. The transaction hosts the various digital assets of the user, and the user can only trust them based on the business ethics of the exchange operator. But often, based on mutual trust of human nature, there are human factors of the inevitable negligence, it caused a number of exchanges Pirates of the incident.n
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n(Bitcoin and hacker)n
nPirates of the coins, has been lingering in the world of encrypted money over the “ghost”. Interestingly, in every big market, will happen to make the community shocked the money incident. May wish to recall:n
nn1. In March 2014, Mt.Gox was stolen 850,000 bits, and the company filed a bankruptcy protection with the Tokyo District Court in Tokyo. The company’s users are still waiting for its return has not yet been stolen a small amount of Bitcoin. As the investigation progressed, Mt.Gox was exposed to the so-called Bitcoin was stolen in fact. 850,000 “stolen” bits of the currency, in fact, because of external theft missing only 7,000.n
n2. In August 2014, the domestic famous cottage currency exchanges were attacked, stolen 50 million NXT (future currency). In the event of the disposal process, the exchange exposed a serious lack of security, POS currency wallet online security risks and other issues. Account stolen, the exchange back and forth, in the rolling block and private back and forth between the swing, lost the initiative, the final hackers cheated 110 bit currency, as long as the return of 500 million NXT currency.n
n3. March 2014, when the popularity is not very high Poloniex hackers attack, the platform stored 12.3% Bitcoin was stolen, then once caused the user’s currency panic tide.n
n4. In August 2016, Bitfinex, due to security vulnerabilities on the site, resulted in the theft of Bitcoats held by users, with 119,756 bits of stolen bits totaling about $ 65 million. The company then decided to share the losses by all users to avoid bankruptcy.n
nnThere are far more than the number of transactions in the exchange, many exchanges are forced to maintain the reputation of the operation, after the occurrence of dumping money will not choose to open to the public, they tend to advance their own stolen funds, the risk can bear the case , Can “cover their past” is the best.n
nThe exchange uses a central model to operate, and Pirates of the currency are always inherent risks. To completely eliminate this phenomenon, can only turn to the use of decentralized trading model. One of the core strengths of a centralized deal is to avoid any assets being managed, so there is no possibility of stolen assets, which will greatly reduce the user’s trust in the exchange costs.n
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nThe Loopring product developed by the domestic team is expected to bring us the next generation of de-centric coin agreements. Different from the traditional exchange matching mode, Looprng agreement to support users directly use their own private key, foreign broadcasting want to match the transaction. The looping token in the Loopring order does not have to be charged to the transaction, and is kept in the address of the user’s own block chain during the order, match, and settlement process. Orders do not lock the user chain on the chain of tokens, after the order of the user can still use their own digital tokens.n
nAt present, Loopring products based on the development of the platform platform. If the ethernet is the bottom of the agreement, then Loopring will act as the intermediate service layer of the agreement role, it can be supported by all the ERC20 mechanism tokens call. The market value of the ether-based system has been as high as $ 17 billion, and the market for ERC20 tokens will continue to grow, with the potential of Loopring’s use.n
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nLoopring core team lineup, the assembly of the domestic top Internet company’s development and operation of large coffee:n
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nWang Dong: Chairman of the Foundationn
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Former Google US Tech Lead, co-founder and vice president, co-founder of Jingdong, co-founder of coin coin coin co-founder and co-founder and co-founder and co-founder, Block Chain Technology Researcher.n
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nMa Chao: Chief Technology Officern
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has served as senior R u0026 D engineer at Google, senior director of cloud network, true network of technical director, coin Feng Hong Kong Stock Exchange CTO, familiar with the block chain and virtual asset exchange technology and ecology.n
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nZhou Jie: Chief Marketing Officern
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has served PayPal and Ernst

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