Crypto
Loopring, Ethereum\'s first zk-rollup, closes decentralised exchange
Loopring, described as Ethereum\'s first zk-rollup project, has closed its decentralised exchange service, The Block reported. The project said it lacked a virtual machine, preventing composability and real payment use cases, which limited ecosystem growth. It also acknowledged its zkEVM architecture lagged newer solutions fully compatible with Ethereum smart contracts. Loopring said it will refund users directly and cover all transaction fees, and will later restrict Layer 2 withdrawals to team-controlled whitelisted addresses after an upgrade.
