What is the difference between polygon and Loopring?

Could you please elaborate on the key distinctions between Polygon and Loopring? Are there any notable differences in their underlying technologies, transaction speeds, or the types of decentralized applications they support? Furthermore, how do their scalability solutions compare, and what advantages does each platform offer over the other in terms of user experience, security, and cost-efficiency? Understanding these factors could help investors and developers make more informed decisions about which platform to utilize for their specific needs.