Conversation with Matthew Finestone of Loopring

Building on our discussion of Scalability from last week, today we talk with Matthew Finestone of Loopring.

Loopring is a Layer 2 solution aiming to provide super fast and super cheap Ethereum transactions/payments. They utilize Zk-Rollups to offer roughly transactions 1000x cheaper and 1000x faster.

As we discussed last week, Ethereum performance has been bottlenecked by gas costs and transaction time. During the Summer of Defi I personally had some transactions that cost 50 dollars and took over ten minutes. Obviously that is not going to cut it. Products like Loopring aim to solve this issue.

Loopring describes themselves as an exchange and payment protocol. Their standalone exchange is currently live. In the future we may see wallets or other services building the Loopring exchange directly into their product. In this way customers would be using Loopring without even knowing it. The product on the other hand can offer a substantial increase in performance by utilizing Loopring thus outperforming the competition. This I believe is where Loopring could corner the market and set itself up for major success.

Multiple projects are trying to solve the scalability issue, Loopring being one of them. Whichever project(s) become to defacto solution(s) the financial reward will be substantial. Loopring has been around for a few years now and have been building the entire time. Their main crypto exchange is live right now. Seeing a live, working product always instills confidence as many crypto teams fail before they even reach that stage. Furthermore, their product has worked well and has not experienced any major failures as far as I can tell. Seeing a product like this in use right now on Layer 2 really sets them apart.

Loopring - Coingecko

If you want to learn more you can check out their website at :

Loopring.org

If you want to jump right in you can use their exchange, live on Layer 2 here:

Loopring Exchange