Loopring
--
We've recently made some decentralization improvements in the Loopring ecosystem💙
Take a look🧵👇
1) Trustless Guardian Interactions :
This enables guardian interactions in a trustless mode. Security-sensitive operations requiring guardian approval can now bypass the Loopring Relayer. Users can generate a transaction hash (QR code) and collect guardian approvals off-chain, submitting the final approved request on-chain. This ensures smart wallet functionality even if the Loopring backend is unavailable.
2) Self-Help Transaction Mode:
Should the Loopring backend fail, users can now still relay transactions on-chain using any other EOA wallet. This helps ensure Loopring users always keep full access to their funds.
All of this plus many other updates we made are part of our overall, long-term strategy to focus on the new Multi-Network Loopring DeFi effort as well as making the Loopring mobile app as user friendly as possible with our Multi-Network rollout.
If we want our products to be adopted by large amounts of users across every network, we need them to be as scalable, decentralized and robust as possible with maximum uptime and little to no dependencies on any centralized services.
More to come...
Take a look🧵👇
1) Trustless Guardian Interactions :
This enables guardian interactions in a trustless mode. Security-sensitive operations requiring guardian approval can now bypass the Loopring Relayer. Users can generate a transaction hash (QR code) and collect guardian approvals off-chain, submitting the final approved request on-chain. This ensures smart wallet functionality even if the Loopring backend is unavailable.
2) Self-Help Transaction Mode:
Should the Loopring backend fail, users can now still relay transactions on-chain using any other EOA wallet. This helps ensure Loopring users always keep full access to their funds.
All of this plus many other updates we made are part of our overall, long-term strategy to focus on the new Multi-Network Loopring DeFi effort as well as making the Loopring mobile app as user friendly as possible with our Multi-Network rollout.
If we want our products to be adopted by large amounts of users across every network, we need them to be as scalable, decentralized and robust as possible with maximum uptime and little to no dependencies on any centralized services.
More to come...
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.