Loom Network

Overview of Loom Network

  • Loom Network is an example of a layer 2 scaling solution, partially analogous to the Lightning Network for Bitcoin; it offers increased transaction throughput external to the Ethereum blockchain with optional layer 1 settlement and transfer, for a class of applications (primarily large-scale online games and social applications) that do not require the security guarantees of Ethereum for low-value microtransactions.
  • Loom Network is announcing that it has a next-generation blockchain platform that will enable developers to run huge games — as big as World of Warcraft — to run directly on blockchain, or the public ledger technology behind the explosion in cryptocurrencies.
  • Loom Network (LOOM): is a project that is responsible for the development of applications, in order to ensure services one of its main objectives as a project is to achieve the balance between games…See more
  • Loom Network has pivoted from blockchain games to enterprise, therefore we’ve decided to consolidate our public channels so our staff can focus on enterprise sales, support, and outreach.”
  • Loom Network developers had noted in the blog post (published earlier this year) that they’d be cancelling their bounty program, and there were also questions around the project’s roadmap for 2020.
  • Loom Network is still a young project—having been founded in October 2017—but that hasn’t stopped the Loom team from making a few great contributions towards helping Ethereum to scale.
  • Loom Network runs on Delegated Proof of Stake (DPoS) and is optimized for the fast confirmation times and high-transaction throughput necessary for serious real-world dapps.
  • Loom Network’s does not believe in a whitepaper, since almost all cryptocurrency companies have failed to deliver on the promises they’ve made in their whitepapers.
  • Loom Network [OLD] price Index provides the latest LOOM price in US Dollars , BTC and ETH using an average from the world's leading crypto exchanges.
  • Loom Network’s digital ledger tracks the history of each LOOM coin, and selling your staked coin could compromise your saved game and dApp data.
  • Blockchain

    “Ethereum took it a step further by allowing developers to upload indelible pieces of code into the Blockchain, called ‘smart contracts.’ Loom Network is the next logical step in this evolution — it allows developers to run these unstoppable applications on a massive scale.”“With Bitcoin came the world’s first blockchain, a decentralized ledger of financial transactions that cannot be counterfeited, forged, or modified,” said James Duffy, cofounder of Loom Network, in a statement.

    Mine

    Keep in mind that the LOOM token is not mined and instead it is earned by users who engage with DApps on the Loom Network.

    Network

    “Lo que es tan emocionante de Loom Network es que en realidad han creado e implementado un producto en el que tantas soluciones de escalado están en línea como dicen los informes y marketing.”

    Support

    It positions itself as EOS on Ethereum, and like these other blockchain 3.0 solutions, Loom Network fixes congestion and scalability issues using sidechain support and interoperability.Loom Network is just one of the solutions to relieve Ethereum congestion, along with Plasma and Sharding.Think of it like the old-school analog looms used to weave carpets and blankets in older times.

    Transactions

    Loom Network provides DApps with much greater scalability by running each DApp on its own blockchain — called a DAppChain — which runs in parallel to an Ethereum smart contract.With Loom Network, you could run a million CryptoKitties simultaneously without having to worry about network congestion or interrupting other important transactions, the company said.

    # Got a Question?

    If you have any questions, you can ask in our Telegram Dev Chat where Loom Network team members and other developers are ready to answer you — or send us an email at [email protected].

    # Got a Question?

    If you have any questions, you can ask in our Telegram Dev Chat where Loom Network team members and other developers are ready to answer you — or send us an email at [email protected].

    # What is Basechain?

    Basechain is an interoperable DPoS blockchain that is live in production, EVM-compatible, audited, battle-tested, and secured by 21+ validators as well as thousands of individual token delegators.

    # What is Basechain?

    Basechain is an interoperable DPoS blockchain that is live in production, EVM-compatible, audited, battle-tested, and secured by 21+ validators as well as thousands of individual token delegators.

    # What is Loom Network?

    Loom Network is a multichain interoperability platform — live in production — that’s connected to other major blockchains such as Ethereum, Binance Chain, and Tron.

    # What is Loom Network?

    Loom Network is a multichain interoperability platform — live in production — that’s connected to other major blockchains such as Ethereum, Binance Chain, and Tron.

    ¿Qué es el Token LOOM?

    The LOOM token is a proof-of-stake token used to secure Loom Network’s mainnet, called Basechain.LOOM holders can stake their tokens to help secure Basechain and earn rewards in the process.The token is also used by developers to pay for dapp hosting on Loom Network.Unlike Ethereum, developers pay a flat monthly fee to host their dapps on Loom, so their users don’t have to pay transaction costs.

    ¿Qué es Loom Network?

    Loom Network is a multichain interop platform live in production since early 2018.Optimized for scaling high-performance dapps that require a fast and smooth user experience, the network allows dapps to offer a UX comparable to traditional applications and onboard new users without the friction of needing to download crypto wallet software.Loom also has integrations to Bitcoin, Ethereum, Binance Chain, and Tron (with EOS and Cosmos coming soon).This allows developers to integrate assets from all major chains, as well as build a dapp only once and offer it to users on all platforms simultaneously.

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    Don’t see your question answered here?

    If your question isn’t listed here, try searching “loom token” on our official subreddit:
    r/LoomNetwork.

    How do I buy Loom Network?

    It is not possible to buy all cryptocurrencies with U.S.dollars.Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S.dollars using Coinbase or BlockFi.Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including Loom Network.

    How Is the Loom Network Secured?

    The Loom Network is secured through a zkLoom protocol for efficient blockchains.The Ethereum network is one of the most popular open-source blockchains for smart contracts and it is backed by the second largest cryptocurrency.Through zkLoom blockchain, you no longer have to trust validators, and can rely on security guarantees provided by Ethereum.Through leveraging Ethereum for security, zkLoom blockchains operate in a secure manner with few validators and as such, it is much easier to bootstrap new blockchains and to operate them at a lower cost.

    How Many Loom Network (LOOM) Are There in Circulation?

    LOOM is the digital token that is used to pay for services on the Loom Network and it is built on Ethereum in accordance with the ERC-20 standard.

    Is Loom Network a good company to work for?

    .

    Is Loom Network a Good Investment?

    If you believe in the future of decentralized applications built on the Ethereum network, LOOM can be an affordable and effective cryptocurrency to add to your portfolio.However, it’s important to remember that wide scale usage of cryptocurrencies is likely still years away — and that the value of any individual token can drop at any time.

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    What coins are similar to Loom Network?

    The following coins use Loom Network’s ETH Token algorithm and proof-type: Chainlink, THETA, Binance USD, DREP, DREP [old], PancakeSwap, Aave, Maker, FTX Token, Huobi Token, Crypto.com Coin, Dai, Polygon, Chiliz and Holo.

    What hashing algorithm does Loom Network use?

    Loom Network is a coin that uses the ETH Token algorithm.

    What Is Loom Network (LOOM)?

    Loom Network is a platform as a service that is built on top of Ethereum and allows developers to run large-scale decentralized applications.This platform was released on October 1st, 2017.

    What is Loom Network Trying To Do?

    Built on Ethereum, Loom network intends to become the next generation of Blockchain platforms that will run games and social applications.A decade ago, with iOS and Android’s emergence, developers could build apps and upload them on the App Store and Play Store and earn money when users downloaded and bought their apps.This market is where Loom Network is focusing on.

    What is Loom Network?

    Loom Network is a distributed platform that optimizes data storage and its exchange across healthcare and governmental organizations.It strives for bringing the data on-chain to increase the speed, efficiency, and security.

    What Is Loom Network?

    The Loom Network is an Ethereum-based, Platform-as-a-Service (PaaS) network with a Software Development Kit (SDK) targeting large-scale, decentralized social app and game development.Loom DAppChains are run as parallel sidechains attached to smart contracts on the Ethereum mainnet.The LOOM token is the proprietary ERC-20 membership token that provides access to DAppChains on the Loom Network.

    What is Loom Network?

    The next-generation blockchain platform for large-scale online games and social apps.

    What is Loom Network?

    Loom Network is a platform as a service built on top of Ethereum that allows developers to run large-scale decentralized applications.This lets developers build DApps with the trust and security of the world’s most secure public blockchain, along with the computing resources necessary to run commercial-scale services.Like how Filecoin tokenized disk space, Loom aims to be the tokenized application protocol of the new decentralized web.

    What is Loom Network?

    Loom Network is a cryptocurrency project that has built (and is continuously improving) fundamental infrastructure to help Ethereum scale, immediately.Its primary product is a software development kit (SDK) that teaches and guides developers through the process of creating their own blockchains, without requiring any prerequisite knowledge of blockchain technology.

    What is Loom Network?

    Loom Network is a multichain interop platform live in production since early 2018.Optimized for scaling high-performance dapps that require a fast and smooth user experience, the network allows dapps to offer a UX comparable to traditional applications and onboard new users without the friction of needing to download crypto wallet software.Loom also has integrations to Bitcoin, Ethereum, Binance Chain, and Tron (with EOS and Cosmos coming soon).This allows developers to integrate assets from all major chains, as well as build a dapp only once and offer it to users on all platforms simultaneously.

    What is Loom Network?

    Loom Network is an Ethereum-based platform for large-scale online games and social apps.Loom Network's dappchains are full-featured blockchains that are built to run in parallel to Ethereum Smart Contracts.They’re an advanced form of Ethereum sidechains optimized for scaling data rather than financial transactions.LOOM is an ERC20 token that serves as a currency on the Loom Network platform.

    What is Loom Network?

    The cryptocurrency space is currently involved in finding the solution for a lot of problems in different fields like science, technology, healthcare, etc.One of these cryptocurrencies, the Loom Network, has been showing considerable promising with its entry in the gaming and social applications industry.

    What is LOOM?

    Loom is a platform for developers who want to deploy their decentralized apps across multiple blockchains at once.This provides developers with the ability to create one DApp that can work across multiple chains that Loom supports.Loom allows developers to “future proof” their DApps by expanding potential audiences with inter-blockchain connectivities.Ethereum, Bitcoin, Binance and Tron blockchains are currently supported with more coming soon.Unlike other blockchains like Ethereum, Loom Network developers pay a flat monthly fee in order to host their DApp on the network, which can help lower usage costs.

    What is the Loom Network?

    The company claims to already have an Ethereum based infrastructure that is scalable, faster, and more stable than anything previous developed.Using the Loom Network, and the tools being developed by their team, developers could create global social applications, and massive gaming worlds similar in size and scope to World of Warcraft and similar MMORPGs.

    What is the LOOM Token?

    The LOOM token is a proof-of-stake token used to secure Loom Network’s mainnet, called Basechain.LOOM holders can stake their tokens to help secure Basechain and earn rewards in the process.The token is also used by developers to pay for dapp hosting on Loom Network.Unlike Ethereum, developers pay a flat monthly fee to host their dapps on Loom, so their users don’t have to pay transaction costs.

    What is the value of Loom Network?

    One Loom Network (LOOM) is currently worth $0.14 on major cryptocurrency exchanges.You can also exchange one Loom Network for 0.00000263 bitcoin(s) on major exchanges.The value (or market capitalization) of all available Loom Network in U.S.dollars is $142.02 million.

    What Makes Loom Network Unique?

    Loom Network is a platform as a service that allows Ethereum Solidity applications to be run through side chains.

    Where can I get Loom Network wallet?

    Loom Network produces its own wallet software that is available for download on its website, which allows you to store Loom Network on your computer.For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X.If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

    Who Are the Founders of Loom Network?

    The Loom Network was founded by Matthew Campbell, James Martin Duffy and Luke Zhang in 2017.

    Why do I have to login with my Email?

    Email registration will become mandatory in the future.

    History of Loom Network