Loom Network (LOOM) is a Platform as a Service proposed to permit Ethereum-based Solidity applications to be kept running on side chains. With the conviction that applications ought to be permitted to have progressively loosened up accord instruments relying upon their necessities and potential danger demonstrate, Loom expects to make scaling decentralized applications quicker and simpler while staying on the Ethereum arrange. Loom Network's DPoS sidechains take into account really versatile blockchain recreations and DApps with the security of Ethereum mainnet.

<p>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. It runs on Plasma, which is a scaling solution that allows for faster transactions throughout the network.</p><h2>Goals of the Network</h2><ol><li>Allow application developers to have smart contracts that can access much more computing power when it is required.</li><li>Maintain the same power at lower costs for tasks such as trials for onboarding new users or applications that simply do not need the full security of blockchain to begin with.</li><li>Provide the ability to interact with APIs developed by third parties that are not on-chain.</li><li>Allow smart contract developers to create applications without the need to switch to another programming language, and easy integration of their applications with the outside world.</li></ol><h3>Who Are the Founders of Loom Network?</h3><ol><li>Matthew Campbell is the co-founder. He is also the principal of Hyperwork Inc. and was also a lead software engineer at Digital Ocean and an instant messaging server architect at Thomson Reuters.</li><li>Luke Zhang is another co-founder and a past lead developer at BlockMason and a prototyping expert at Shifthub.</li><li>James Martin Duffy is the CMO and he is also the CEO at Epictetus Ventures, as well as the founder of Auragin.&nbsp;</li></ol><h3>What Makes Loom Network Unique?</h3><ol><li>Applications can have consensus mechanisms specific for their needs and potential threat model.&nbsp;</li><li>Scaling decentralized applications faster and easier on the Ethereum network and using the DPoS sidechains for scalability with DApps through the security of the Ethereum mainnet.</li><li>The LOOM token acts as a membership token that each member receives in order to get access to all of the apps that run on the Loom Network itself. This token functions on all of the DAppChains that run on the Loom Network and lets you transfer digital assets and data between Ethereum and Loom DAppChains.</li></ol><h3>How is the Loom Network Secured?</h3><p>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. ZkLoom blockchains operate in a secure manner with few validators, and as such, it is much easier to bootstrap new blockchains at a lower cost.</p>

Loom Network

Ethereum

James Duffy

Plasma

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Loom Network (LOOM) 30 Days Historical Price Data

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