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What is Order Ring (Loopring)?

Crypto Terms Glossary: What is Order Ring (Loopring)?

An order ring is a process whereby a ring miner completes an order by using a Loopring smart contract to determine how to best fill the order. If the ring miner can execute the order on either side of the trade, the smart contract will execute an atomic swap — a direct transfer from the smart contract to the user's wallet. Order rings also facilitate ring-matching, which is the process of fulfilling orders by stringing them together. Order rings differentiate the Loopring protocol from other decentralized exchanges like Waves, IDEX, and Bancor. Order sharing is also made possible by order rings. When the Loopring smart contract cannot execute an order in a single trade, order sharing will split orders into partial components until the full original order amount is fulfilled.

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