Glossary
DEX
Decenralized EXchange.
Zero-Knowledge Proofs
A method by which one party (the prover) can prove to another party (the verifier) that they know a value x, without conveying any information apart from the fact that they know the value x.
Relayer
Loopring Exchange's backend system that handles order matching and settlement, deposits, withdrawals, and Zero-Knowledge Proof generation, etc.
On-chain Requests
User requests sent to Loopring Exchange through Ethereum transactions.
Off-chain Requests
User requests sent to Loopring Exchange using Loopring's API.
Base Token
The target token to trade. For example, in the LRC-ETH trading pair, LRC is referred to as the base token.
Quote Token
The token to quote price. For example, in the LRC-ETH trading pair, ETH is referred to as the quote token.
Size
The quantity of the base token in an order or a fill.
Volume
The quantity of the quote token in an order or a fill.
EdDSA
The signing algorithm used by Loopring to sign off-chain requests. EdDSA is more circuit friendly compared to Ethereum's ECDSA algorithm.