Bi-Weekly

We have been preparing the multiparty computation ceremony required for Loopring 3.0’s trusted setup. We have completed and are testing the code for our ceremony (a.k.a., phase 2),

We’ve been at Ethereum Devcon in Osaka, continued protocol and Lightcone development, as well as a slew of operations activities.

We have been testing the Lightcone relayer cluster, and identifying and fixing bugs. Lightcone’s integration testing and stress testing will remain our top priority in the coming months.

Happy Mid-Autumn Festival! We hope you have enjoyed some delicious mooncakes.

Over the past two weeks, we have been testing the off-chain proof generation performance and cost, and have achieved very satisfactory results. We have also been busy in Berlin with Blockchain Week, learning from the great ecosystem there, and sharing Loopring developments in some talks.

Loopring v3 beta3 has been deployed on Ethereum mainnet. We have made another 15% TPS improvements from the last update and we expect the throughput without data availability to break 10,000 TPS after Istanbul fork. The v3 smart contract & ZKP circuit audits have begun by SECBIT team.

We have completed all planned features in the Loopring v3 beta3 release, including a much-simplified fee model to reduce the constraints in the settlement circuit, and an address whitelist mechanism to support customizable whitelisting logics.

We started to develop the beta3 version of the Loopring Protocol 3.0, which will greatly increase the throughput and reduce the cost per settlement. We are excited to share some preliminary results in this bi-weekly update.

Last week we released the second beta of Loopring 3.0 — beta2. This version has been repeatedly tested and is very stable. In the coming week, we will release a bug bounty for this.

Starting next week, Loopring will shift its engineering focus from protocol development to relayer development to ensure the launch of our first v3 public beta in Q4, 2019.

We managed to complete the development of a new fee model and further optimize the throughput of our zero-knowledge proof-based Loopring protocol and made remarkable progress on the relayer implementation.

We are doing something wonderful with Loopring v3.We have been working on a new fee model and a staking system for Loopring v3. These are being developed specifically for the strength of Loopring v3.

Major protocol 3.0 improvements, LRC token contract upgrade completed, and Blockchain Week New York kicks off.

We open-sourced the Lightcone relayer — a Loopring backend matching system. A relayer is the off-chain component that hosts orders, matches them, and submits them to the Loopring protocol smart contracts for settlement.

We released Loopring Protocol 3.0! Using zkSNARKs to achieve much higher throughput of 450 trades/second on Ethereum without on-chain data availability, and 80 trades/second with on-chain data availability. Past versions of Loopring achieved only ~2 trades/second!

We have made excellent progress on Loopring 3.0, Oedax, and Lightcone relayer implementation. We’ll open source all of them soon in Q2.

We published the design of a new auction-based trading protocol, scheduled an LRC token contract upgrade, and made substantial progress in Loopring Protocol 3.0.

Our global community hosted a few meetups in Australia and North America. We’ve made great Protocol and Relay progress, had a few deep-dive interviews, and Polymath successfully trialed peer-to-peer trading of security tokens over the Loopring protocol.

Due to the Chinese New Year holidays, our next bi-weekly update will be released on March 3rd. Happy and healthy holidays to all celebrating!

A busy few weeks, filled with integration work of protocol 2.0 with relay 2.0, continued research, and a few conferences in Asia and North America. We’d like to note that on Saturday, January 26th, I (Daniel) will answer a Reddit AMA. Please ask your questions now!

A week ago we rolled out our 2018 R&D roadmap. Based on the roadmap, we also had an engineering and a marketing kickoff meeting to bring everyone on the same page. We are very confident that Loopring’s core technologies will be ready for adoption during the year of 2018.

Our security audit for Loopring Protocol 2.0 has successfully completed, and we have deployed 2.0! We will publish a separate post reviewing all of 2.0 functionality shortly. Our mobile apps saw meaningful updates, including a contact list for addresses.

A bunch of exciting protocol developments these past 2 weeks, including integrating a mechanism to buy/burn LRC for the fee model in 2.0, progressing on a sidechain for higher throughput, and much more.

With protocol 2 complete and undergoing audits, our attention has also turned towards protocol 2.1, with security token support taking shape. Frontend web and mobile products have been refined and released — lots of new features. Lightcone Relay backend testing is in full swing.

We have successfully completed smart contact development for protocol2 and protocol2-js and we are continuing to test and improve the code.