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Loom coin scam2/17/2024 ![]() Loom Network’s use of sidechains also allows for a great degree of scalability by handling the majority of DApp functions off of the main Ethereum blockchain.īacked by Ethereum. Built with DApp developers in mind, Loom Network’s sidechain integration allows for apps to be 100% blockchain-based while keeping DApp functions minimally dependent on interacting with the Ethereum blockchain. Why Loom Network?Īs a cryptocurrency platform with the goal of making it easier for the public to interface with the Ethereum blockchain, Loom Network contains many advantages not shared by other such services:ĭApp integration. Side chains, also referred to as “Layer 2 scaling solutions” are the primary advantage that Loom Network offers to its users, which it achieves through its own, novel set of software that interfaces with Ethereum. Side chains let developers build DApps with the trust and security of the Ethereum blockchain, while providing the computing resources necessary to run highly scalable, commercial-level services. It allows developers to run large-scale decentralized applications by making use of “side chains,” which basically allow DApp processes to take place without an active link to the Ethereum Network. The Loom Network functions as a Platform-as-a-Service which is built on top of Ethereum. Loom Network has been in operation since March 2018, and several developers have already built DApps using its platform. ![]() Less than four months later, its market capitalization briefly surpassed $400 million, making it an incredibly successful platform for Ethereum DApp developers. The LOOM token sale ended in January 2018, during which $45.08 million was raised. It employs a large team of diverse specialties in order to achieve its goals. Loom Network was conceived by CEO Matthew Campbell in late 2017. The Loom Network token (LOOM) is used to pay for platform services, which are many and constantly expanding. ![]() Running in tandem to Loom Network’s belief that DApps should be easy to build and available to anyone to use is their belief that Ethereum will soon be “the backbone of the new internet,” and thus off-chain solutions for Ethereum DApp management will play a larger role in the future. It offers its users numerous example apps and starter development kits for those who want to program DApps in Unity, Cocos, Phaser, JavaScript, or GoLang. The Loom Network is an Ethereum-based cryptocurrency platform created specifically to make DApps easier to build and faster to run.
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