Loopring co-hosted a DEX meetup in Sydney with HaymarketHQ and NextGenius to discuss all things DEX, and the Loopring landscape.
The crowd consisted of blockchain developers, entrepreneurs, and crypto enthusiasts. Loopring CMO, Jay Zhou, shared with the community the open source protocol providing fundamental building block for crypto exchanges, which can be integrated into other blockchain applications that may need to manage multiple tokens.
Jay presented that the three primary risks of centralized exchanges are: 1) Lack of security, 2) Lack of transparency, and 3) Lack of liquidity. Decentralized exchanges differ from centralized exchanges in part because users maintain control of their private-keys (assets) by performing trades directly on the underlying blockchain. By leveraging the trustless technology of cryptocurrencies themselves, they successfully mitigate risks of security and transparency. However, liquidity often remains an issue as users must search for counterparties across disparate liquidity pools and standards.
Loopring uses a combination of off-chain order messaging and on-chain settlement to ensure users maintain custody of their tokens. Loopring is also working on their protocol-specific Ethereum side-chain for faster and cheaper settlement to power massive adoption of decentralized exchanges.
About Haymarket HQ
Haymarket HQ is Australia’s first startup hub supporting entrepreneurs to connect to Asia. They offer access to co-working space, mentors and investors, and a huge network of like-minded entrepreneurs across Asia-Pacific. Their role is to raise awareness about the opportunities and developments in Asia and support entrepreneurs to capitalise on them.
About Next Genius Community
Next Genius Community is the largest Chinese programmers community based in Sydney, easy to share with other members the most advanced techniques, help each other. They can provide the maximum support for all start-ups. As a member, you can get inspiration from blockchain meetups and learn new technology such as smart contract development.
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