Loopring is a flexible layer-2 scalability solution for basic value transactions as well as a variety of exchanges such as order book and Automated Market Maker (AMM). This system uses advanced cryptography in the form of a limited one-way homomorphic encryption using bilinear pairings, popularized in the implementation of the Zcash protocol. This solution is classified as a validity proof system that ensures that state transition must be correct by the properties provided in the encryption scheme.
Loopring has requested that Least Authority perform a security audit of Loopring 3.6, a zkRollup layer-2
decentralized exchange and payment protocol implementation on the Ethereum blockchain. Loopring 3.6 is an improved version of Loopring 3.1, which is built on top of the same technical stack, and introduces Solidity smart contracts and libsnark and ethsnark-based circuits code.
Our final audit reports were completed on March 16th, 2021.
To read the full reports including our findings, click below: