Blockchain Protocol Loopring Partners With UC Berkeley

Announcements, Blockchain, News | January 16, 2018 By:

Blockchain protocol Loopring has teamed with the University of California, Berkeley to set up a research program focused on cross-blockchain transfer and trading protocols.

Loopring is an open, multilateral token exchange protocol for decentralized exchange on the ethereum blockchain. It is intended to serve as a common building block with open standards. It aims to drive interoperability among decentralized applications (DAPPs) that incorporate exchange functionality. Trades are executed by a system of ethereum smart contracts that are publicly accessible, free to use, and that any dApp can engage.

UC Berkeley is a public research university located in Berkeley, California. It recently created the Berkeley Blockchain Lab, a platform for students to gain real-world experience working with blockchain technology. It has been partnering with blockchain firms to study the technology’s use cases. Its partners include Singaporean digital asset platform Kyber Network, Qtum Foundation, and Chronicled, among others.

Under the partnership, Loopring and UC Berkeley will explore the possibility of applying zero-knowledge proofs on top of the Loopring protocol to provide strong privacy guarantees for token-to-token trading activities. Professor Alessandro Chiesa, who is a co-inventor of Zerocash and co-founder of Zcash, will lead the blockchain research program.

Loopring Foundation founder Daniel Wang noted that cross-chain trading protocols are fundamental to the interoperability of decentralized networks. He added that tokens that can be recognized and functional across multiple blockchains will have the greatest utility going forward and help to bridge ecosystem fragmentation.

“Cross-chain protocols with trading automation don’t exist yet, so we are super-excited about this direction of research, said Wang.” “We understand it’s going to be an arduous challenge and it may take years, but the Loopring Foundation is dedicated to sponsoring and working with academia to push this forward. Professor Chiesa is the best scientist who can lead this blockchain research program.”