A Partnership Between Loopring (LRC) Coin and GameStop (GME) Seems To Be a Done Deal Now in Light of the Video Game Retailer’s Latest Job Posting

Loopring (LRC), an Ethereum-based protocol that offers cut-edge cryptography for Decentralized Finance (DeFi) applications, is very likely to enter into a partnership with the video game retailer GameStop.

As a refresher, Loopring is essentially a Layer ii Ethereum blockchain that utilizes a new type of cryptography, dubbed the zkRollup (nil-knowledge rollups). A nothing-knowledge proof makes a claim regarding the accurateness of a particular data set without actually sharing that data. For instance, it may allow age verification for certain sites without actually revealing the historic period of the user. zkRollups bundle multiple transactions into a unmarried i, thereby boosting the scale and efficiency of the network. These bundled transactions are then settled on the main blockchain using cypher-knowledge proofs to ensure the accuracy of those off-chain transactions.

In order to utilize the services of the Loopring exchange, users first send their funds to a smart contract managed by the Loopring protocol. From there, the user-identifying information is moved off-concatenation, and the associated trades are batched together and matched for efficiency gains. Each batch of transactions is then added to the Ethereum blockchain using zero-knowledge proofs that let for a complete reconstruction of those off-chain transactions. Loopring claims that it can procedure over 2,000 trades per second by using this method.

Finally, the LRC is the native cryptocurrency of the Loopring decentralized exchange (DEX). Users who pale LRC win the right to 70 per centum of the commutation fees, while ten percent of these fees – paid in the form of LRC – are burnt, thereby ensuring an overall deflationary surroundings. The full supply of LRC is capped at 1.395 billion tokens.

This brings us to the crux of the matter. Nosotros had noted in a previous post that certain snippets of the source code from Loopring'southward GitHub contour suggested the possibility of integration with GameStop's (NYSE:GME) much-hyped NFT platform. For case, equally noted by GMEdd, the code referenced "gamestopmeta":

"The amended code in the branch "NFT-DEV", nether the GitHub commit titled 'NFT feature', makes reference to "gameStopMeta" and an IPFS URL."

Behave in listen that the IPFS, a distributed system for storing and accessing files and data, was used past GameStop during its first iteration of an NFT platform reveal.

GameStop's New Job Posting Bodes Well For a Possible Partnership With Loopring

Now, a new job posting past GameStop is garnering increased attention in relation to the possible integration with Loopring. To wit, GameStop has now opened a vacancy for a "Product Owner - Head of Web3 Gaming [REMOTE] In Seattle".

Source: https://careers.gamestop.com/en-Us/task/product-owner-head-of-web3-gaming-remote/J3M7C16H1F3MF1KKM6P

Information technology is the last two job responsibilities for this vacancy that are attracting quite a lot of attention, equally evidenced by this thread on r/loopringorg. The job requires not only familiarity with "all new NFT/crypto projects" only besides a working cognition of "integrations with dissimilar blockchains and Ethereum Layer 2 environments". Comport in mind that Loopring is a Layer 2 protocol on Ethereum. Consequently, proponents are interpreting this development equally another sure-shot sign that the cryptocurrency would somewhen be integrated with GameStop'south much-hyped NFT platform.

Source: https://coinmarketcap.com/currencies/loopring/

Loopring's LRC has taken out its previous all-time high of $ii.59 recorded back in 2018. The coin is currently trading at $three.05, a fair distance away from the new zenith of $3.83 recorded on the tenth of Nov.

Notation: The mail has been updated with the correct figure for Loopring's max supply

Source: https://wccftech.com/a-partnership-between-loopring-lrc-coin-and-gamestop-gme-seems-to-be-a-done-deal-now-in-light-of-the-video-game-retailers-latest-job-posting/

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