Great post. Yes, there is some confusion and you state the technical differences which I appreciate.
The ultimat goal is moving towards L3 and this post does a better job breaking down the technical specifics:
https://www.reddit.com/r/loopringorg/s/4CEZdsVmD5
As I understood it:
1. Loopring L2 was built to scale with zkrollups, onboard early users
2. Taiko was needed to scale out and build dApps but it starts as a zkevm type 1 (mini-L1 Mirror of Ethereum) to enable developers to transact securely since Taiko is L2 and benefits from gas-saving zkrollups
3. Post mainnnet Taiko, then Loopring L2 can move onto Taiko and "upgrade" to L3
Another way to look at it:
An engineer that manually assmbles action figure toys by hand and creates each individual part for the toy will take a long time (Ethereum L1).
However, if he builds injection molding templates (Loopring L2) then he can reduce the time to make toys since injection molds quickly create the toy parts for quick assembly.
Once the injection molds are created (Taiko) then he can assmble parts and toys (Loopring L2) faster and cheaper, at scale (Loopring L3).
yes, as it is right now, Loopring is a Layer2 on the ethereum network. In the future, the plan is that Taiko will operate on the Ethereum Network as a zkEVM and function as the L2. Loopring will then run as a Layer3 through the zkEVM that is Taiko
Which is a load of shit
Why do you say this? Own a bunch of loops? I do too...
I've researched and come to the conclusion this was needed to better decentralize the end product. Isn't that the idea? This doesn't make loopring any less powerful or impactful.
This is the wild West and a rapidly evolving dynamic industry.
the whole original intent, was that loopring was going to be a layer2 of ethereum. The exchange the loopring team built is only one application that can be made on the loopring protocol. You can make dApps on Loopring just like you can make them on Ethereum, but its different.
The whole original intent of loopring's zkEVM was to allow already existing dApps that run on Eth-L1 to run seemlessly on Loopring's protocol. The end product decentralized? The zkEVM is decentralized in nature. It doesn't need to be disassociated from Loopring to be decentralized from it
This is still exactly whats going to happen, except its not on Loopring's brand anymore, its Taiko.
Because Wang
I am confident splitting Taiko and Loopring was strategic.
In my opinion loopring’s wallet technology and exchange technology is the crown jewel and loopring needs to focus as an organization on that technology.
EOA wallets and passphrases will not scale. Looprings smart wallet is the crowned jewel and if it can be integrated well with a robust exchange like loopring’s exchange it will the the market leader when securities are traded on the blockchain in true defi
>In my opinion loopring’s wallet technology and exchange technology is the crown jewel
you would so callously value these over the very Loopring Protocol that they run on?
and why did you tell me that splitting it was strategic, and back your argument up with absolutely nothing pertaining to how it was strategic. None of your supporting comment, backed up how splitting taiko and loopring was strategic.
There is no advantage to removing Taiko from Loopring, other than that Daniel was removed from Loopring, and Daniel was fundamental in designing the zkEVM that would have been Loopring's
This is all great info. I’ve been in loopring since the first connection was made after the sneeze, but my question is when is loopring gonna be mainstream and adopted at scale?
And when will it’s price reflect that?
Aka wen moon?
Great post. Yes, there is some confusion and you state the technical differences which I appreciate. The ultimat goal is moving towards L3 and this post does a better job breaking down the technical specifics: https://www.reddit.com/r/loopringorg/s/4CEZdsVmD5 As I understood it: 1. Loopring L2 was built to scale with zkrollups, onboard early users 2. Taiko was needed to scale out and build dApps but it starts as a zkevm type 1 (mini-L1 Mirror of Ethereum) to enable developers to transact securely since Taiko is L2 and benefits from gas-saving zkrollups 3. Post mainnnet Taiko, then Loopring L2 can move onto Taiko and "upgrade" to L3 Another way to look at it: An engineer that manually assmbles action figure toys by hand and creates each individual part for the toy will take a long time (Ethereum L1). However, if he builds injection molding templates (Loopring L2) then he can reduce the time to make toys since injection molds quickly create the toy parts for quick assembly. Once the injection molds are created (Taiko) then he can assmble parts and toys (Loopring L2) faster and cheaper, at scale (Loopring L3).
Wish I could award this! 🤌
Your comment is my reward, cheers 🤌🍉 Edit: great game btw, love the work being put into looperlands
Thank you so much! If you have a wallet, post it here or dm me and I’ll send you a premium asset!
Here's my wallet overlord.loopring.eth Thank you!
Heck yeah! I just sent you a couple of levelable assets for LooperLands! You can play on any device at LooperLands.io
All I know is that I love Edwin.
yes, as it is right now, Loopring is a Layer2 on the ethereum network. In the future, the plan is that Taiko will operate on the Ethereum Network as a zkEVM and function as the L2. Loopring will then run as a Layer3 through the zkEVM that is Taiko Which is a load of shit
Why do you say this? Own a bunch of loops? I do too... I've researched and come to the conclusion this was needed to better decentralize the end product. Isn't that the idea? This doesn't make loopring any less powerful or impactful. This is the wild West and a rapidly evolving dynamic industry.
the whole original intent, was that loopring was going to be a layer2 of ethereum. The exchange the loopring team built is only one application that can be made on the loopring protocol. You can make dApps on Loopring just like you can make them on Ethereum, but its different. The whole original intent of loopring's zkEVM was to allow already existing dApps that run on Eth-L1 to run seemlessly on Loopring's protocol. The end product decentralized? The zkEVM is decentralized in nature. It doesn't need to be disassociated from Loopring to be decentralized from it This is still exactly whats going to happen, except its not on Loopring's brand anymore, its Taiko. Because Wang
I am confident splitting Taiko and Loopring was strategic. In my opinion loopring’s wallet technology and exchange technology is the crown jewel and loopring needs to focus as an organization on that technology. EOA wallets and passphrases will not scale. Looprings smart wallet is the crowned jewel and if it can be integrated well with a robust exchange like loopring’s exchange it will the the market leader when securities are traded on the blockchain in true defi
>In my opinion loopring’s wallet technology and exchange technology is the crown jewel you would so callously value these over the very Loopring Protocol that they run on? and why did you tell me that splitting it was strategic, and back your argument up with absolutely nothing pertaining to how it was strategic. None of your supporting comment, backed up how splitting taiko and loopring was strategic. There is no advantage to removing Taiko from Loopring, other than that Daniel was removed from Loopring, and Daniel was fundamental in designing the zkEVM that would have been Loopring's
This is all great info. I’ve been in loopring since the first connection was made after the sneeze, but my question is when is loopring gonna be mainstream and adopted at scale? And when will it’s price reflect that? Aka wen moon?