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r/CryptoCurrency Moderators are Removing All Loopring Discussions on Reddit. Why? -Breaking

by Mike Robinson

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Reddit’s Loopring Discussions Have been Removed from r/CryptoCurrency by Moderators Why?

There is a lot of information in the cryptoverse. Reddit Channel r/CryptoCurrency is run by crypto experts who have helped many newcomers to the cryptoverse.

While r/CryptoCurrency has become popular for hosting subchannels on almost every cryptocurrency and topic, a Reddit user – u/TriggerWarning595 – has alleged that the moderators of the channel are trying to censor Loopring.

The channel moderators are now deleting Loopring posts, he explained. Reddit user says that one of the moderators at r/CryptoCurrency holds Polygon tokens (MATIC), worth $200 million.

He explains further that the moderators have decided to ban Loopring from their community as they plan to support Polygon (MATIC). This makes it even more suspicious that the MATIC Investment also took place a week prior.

The alleged censoring of Loopring on Reddit’s largest crypto community comes shortly after Loopring’s new wallet launch. LRC rallied around the launch which sparked speculation about a partnership between GameStop and Loopring (NYSE:).

Loopring vs. Polygon

Both Loopring and Polygon are considered to be rivals because they both offer layer two solutions that can be used in the chain. Polygon is a layer two solution that is intended to enable AMMs for Ethereum to host Loopring. However, Polygon provides chain connectivity so you can interact with Ethereum.

These two scaling solutions increase throughput and speed for the Ethereum network. Loopring is capable of processing up to 2000 transactions per second while Polygon can deal with up to 7,500 transactions per hour.

One feature unites them: Both layer-2 solutions were created to address the problems of gas charges, and they have been very successful in doing so.

Loopring’s use of zero-knowledge (zk) proofing technology sets it apart from other scaling solutions. ZK proofing also adds security features that prevent third parties from viewing all information being verified on Loopring’s network.

Flipside

  • The Reddit user, u/TriggerWarning595 – has been permanently banned from r/CryptoCurrency and criticized for benefiting from the news

Why you should care

There is no shortage of competition between projects. Investors should be able to verify the information and not rely on rumors or speculations.

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