The cryptoverse is a very expanse ecosystem with a lot to learn and keep up with. r/CryptoCurrency, a team of crypto experts running a Reddit Channel, has helped newbies find their footing in 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.
He explained that moderators of the channel are deleting posts concerning Loopring. According to the Reddit user, one of the moderators of r/CryptoCurrency has Polygon (MATIC) tokens worth $200 million.
He further explains that their decision to censor Loopring on their community comes as the moderators plan to continue supporting Polygon (MATIC). The MATIC investment also happened a week before, making the censorship even more questionable.
The alleged censoring of Loopring on Reddit’s largest crypto community comes shortly after Loopring’s new wallet launch. The launch, which has sent LRC rallying, also sparked rumors of a partnership with GameStop
Loopring vs. Polygon
Loopring and Polygon can be considered rivals, as both are layer two solutions designed for the Ethereum chain. However, while Loopring is designed to help host AMMs on Ethereum, Polygon commits chain connectivity to interact with Ethereum.
Both scaling solutions bring throughput and speed to the Ethereum network. While Loopring can handle up to 2,000 transactions per second, Polygon can process up to 7,000 TPS.
They share one common feature: both layer-2 solutions were intended to solve the gas charges problems, which they have handled quite well.
Loopring’s use of zero-knowledge (zk) proofing technology sets it apart from other scaling solutions. In addition, ZK proofing adds security measures that keep third parties from seeing all the information they are verifying on the Loopring network.
On the Flipside
- The Reddit user, u/TriggerWarning595 – has been permanently banned from r/CryptoCurrency and criticized for benefiting from the news
Why You Should Care
Competition between projects is not uncommon. However, investors should act on verified news, rather than rumors and speculations.