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Loopring (LRC) Coin and GameStop (GME) Partnership. The Next Step.

Loopring (LRC), an Ethereum protocol that provides cutting-edge cryptography to Decentralized Finance (DeFi), applications, is likely to partner with GameStop.

Loopring, which is basically a Layer 2 Ethereum Blockchain, uses a new type cryptography called the zkRollup (zero knowledge rollups). Zero-knowledge proofs make a claim about the accuracy of a data set, but not actually share that data. It may be used to verify age for certain sites, but not reveal the user’s age. zkRollups combine multiple transactions into one transaction, increasing the efficiency and scale of the network. These transactions are then settled on a main blockchain using zero-knowledge proges to verify the accuracy of off-chain transactions.

To use the Loopring exchange’s services, users must first send funds to a smart contract that is managed by Loopring protocol. The user-identifying information of the Loopring exchange is then moved off-chain. The trades associated with the Loopring protocol are then batched together for efficiency and matched. Each transaction is then added to Ethereum’s blockchain using zero-knowledgeproofs, which allow for the complete reconstruction of off-chain transactions. Loopring claims it can process more than 2,000 transactions per second using this method.

The Loopring decentralized exchange (DEX) native cryptocurrency is LRC. LRC holders can stake LRC to get 70% of exchange fees. However, LRC users who hold LRC will lose 10% of the fees. This ensures a deflationary environment. LRC’s total supply is limited to 1.395 billion tokens.

We now get to the core of the matter. In a previous post, we noted that some snippets from Loopring’s GitHub profile suggested integration with GameStop’s highly-hyped NFT platform. GMEdd noted that the code referenced “gamestopmeta”

Keep in mind that GameStop used the IPFS to store and retrieve files and data during its initial NFT platform reveal.

A GameStop job opening is getting more attention due to possible integration with Loopring. GameStop now has a job opening for a Product Owner – Head at Web3 Gaming [REMOTE] in Seattle.

These are the job responsibilities that have attracted a lot of attention. See this thread on R/loopringorg. This job requires a good working knowledge of integrations with different blockchains as well as Ethereum Layer 2 environments. Loopring is an Ethereum Layer 2 protocol. Proponents interpret this as a sign that the cryptocurrency will eventually be integrated with GameStop’s highly-anticipated NFT platform.

Loopring’s LRC has surpassed its 2018 all-time record of $2.59, which was set back in 2018. The current price of the coin is $3.05. This is a far cry from the $3.83 zenith recorded on November 10.