Loopring, Verge, and Zilliqa - Shitcoin Reviews #1
on Jun 26, 2018
The market is down. Calm your shit.
You guys are smart enough to understand that these are the best times for buying, not for crying.
As the great Worren Buffit said, “When in doubt, buy shitcoins. I love Bitcoin.”
In the spirit of having shitcoins on sale, let’s dig in to a couple, specifically $LRC, $XVG, and $ZIL.
Loopring (ticker: LRC):
Wtf is Loopring?
Loopring is an upper mid-tier shitcoin, certainly high risk, but might have a bright future.
It is a decentralized exchange protocol launched on both the Ethereum and Qtum mainnets with a NEO implementation on the way. They are blockchain agnostic and compatible with any chain that has smart contract capabilities.
Unlike Etherdelta, Bitshares and many other DEX’s, traders do not need to deposit their funds on the exchange via smart contract. Instead, traders place an order through the Loopring wallet by signing it with their private keys. There are ring miners in the network that match orders and settle transactions directly to traders’ wallets.
This entire ring miner system is based on order rings and order sharing. It’s pretty sick shit.
Wtf is an order ring?
Ring miners are scanning the network to match orders in unique ways. Let’s say there is Alice who wants 400 EOS for .5 BTC, Frank who wants .5 BTC for 20 OMG, and Tom who want 20 OMG for 400 EOS. As a result of ring matching, Alice would receive her 400 EOS from Tom, Frank receives .5 BTC from Alice, and Tom receives 20 OMG from Frank. The coins are dispersed to the traders through a smart contract after this ring order is approved.
This allows for virtually any shitcoin to shitcoin exchange, as long as liquidity is available.
Who tf is Loopring?
Their team also seems quite experienced. Dig in to Daniel Wang’s past, he is their founder and CEO. He’s held positions at Google and has been a significant contributor in the crypto space. They also have Hongfei Da, the founder of NEO, as an advisor.
Verge (ticker: XVG):
Wtf is Verge?
Zilliqa (ticker: ZIL):
Wtf is Zilliqa?
Zilliqa is another upper mid-tier platform shitcoin (not unlike EOS) but was designed with scalability in mind. They have built a network where every 600 nodes creates a new shard, which allows more transactions can be processed. A shard is simply a way to split up data, so that you can sort through and process data faster.
Let’s do a shitty example...yay! Say there is a database that contains a list of 10,000,000 users for a website. With a database this large, it can take a long time to retrieve user “ver.roger”, near the end of 10,000,000 names. So, we can split the database up in to multiple smaller ones. There can be one database containing only names A-D, then E-G, etc. So if you have to retrieve a user starting with “V” you can jump to that subset and get that user more quickly. This is sharding (not sharting...farting and shitting), and this same broad concept is applied to decentralized technology.
Who tf is Zilliqa?
They have a large team, around 17 people, not including their advisors. But, team size doesn’t really mean shit. Let’s see who is running the show here.
Their CEO is Xinshu Dong. He seems to be around 32 years old, and has a solid technical background. Previous to Zilliqa he was a head engineer at Anquan Capital which creates high throughput, high security applications for enterprise clients using private and public blockchains (according to his LinkedIn).
Let’s see how they do. They are up against the big boys such as ETH, who is aiming to push some sharding shit too.
Welp...*puts whisky down*....these are a couple of shitcoins that seem interesting. Despite all of this, we are talking about shitcoins here, be careful, DYOR, and HODL strong.
If you want to talk about other projects, just tweet at us and we’ll get back to ya.
- Mike and Aaron