An Explanation of Loopring L3: A Specific Application Rollup Deployed on a Universal Rollup

Loopring L3: A Specific Application Rollup on a Universal Rollup Explained

Loopring L3 has now officially launched on the Taiko alpha-3 zkEVM testnet. This marks the beginning of Loopring’s journey with L3, designed specifically for smart wallets and decentralized applications to achieve greater scalability and highly optimized experiences. Loopring explains the reasons for deploying L3 on top of Taiko L2.

We believe in the world of Rollup and are committed to achieving widespread adoption of ZK technology through our easy-to-use mobile smart contract wallet. So why deploy L3 on top of Taiko L2? By integrating an application-specific layer for DeFi + NFT applications, users can enjoy greatly enhanced user experiences at lower costs, which cannot be achieved using EVM. Recursive proofs can further reduce transaction costs.

Loopring is adept at providing convenience to users through ZK applications, and one of its unique advantages is the rollup execution environment, which provides significant cost benefits to traders, gamers, and creators; these advantages cannot be effectively achieved using EVM. On L3, some transactions become more cost-effective by leveraging recursive proofs. In short, sending proofs to Taiko (whose Type-1 design allows reuse of these proofs) can reduce computational costs.

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Reference: https://twitter.com/loopringorg/status/1676230217612906497

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