Loom Network Review: Still Worth It??

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β–Ί Complete Review: https://www.coinbureau.com/review/loom-network/
β–Ί FREE Giveaway: https://www.coinbureau.com/promo/giveaway

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⛓️ πŸ”— Helpful Links πŸ”— ⛓️

β–Ί Website: https://loomx.io/
β–Ί GitHub: https://github.com/loomnetwork
β–Ί Developer Docs: https://loomx.io/developers/en/intro-to-loom.html

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πŸ“±οΈ Socials πŸ“±

β–Ί Official Blog: https://medium.com/loom-network
β–Ί Twitter: https://twitter.com/loomnetwork
β–Ί Telegram: https://t.me/loomnetwork

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πŸ“ Project Overview πŸ“

The Loom Network is a blockchain development platform where users can build their own social and gaming focused decentralised applications.

The project is also focused on scalability where each of the Dapps will be built in their own unique sidechains

βš™οΈ Technology βš™οΈ

The LOOM network is itself an Ethereum based sidechain.

Both the Network itself and the Dapps that run on it are independent from the Ethereum mainchain. These have been termed “Dappchains”.

These are interoperable which means that these dAppchains can interact with each other.

The Loom SDK supports the Ethereum Virtual Machine, and sidechains can be built with any consensus mechanism and ruleset

🎲️ dApps 🎲

One of the most popular dApps is CryptoZombies which was developed the Loom network team.

It is an interactive code school that will help new developers build their own collectible based blockchains.

Third party developers have also been busy launching their own dAppchains.

For example, you have the likes of Axie Infinity which is a collectible battle creature game featuring the cute Axie creatures

πŸ’°οΈ Token πŸ’°

The LOOM token is an ERC20 utility token that will provide the fuel for the Loom network. Basically, LOOM is used in order to run the dApps and to execute the smart contracts.

LOOM tokens were integrated with the Binance Chain so they can also be used as B.E.P. 2 tokens

LOOM tokens were issued in an ICO that took place in January of 2018. This was a private sale ICO where 55% of the token supply was sold for just over 25 million dollars

πŸ‘¨β€πŸ’»οΈ Team, Partners & Development πŸ‘¨β€πŸ’»

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

They have a breadth of experience in blockchain development, marketing and software engineering.

The company is based in Thailand and has listed over 35 employees on their linkedin.

They have been pretty active in their development with numerous commits to their GitHub over the past year.

πŸ“ˆ Trading & Wallets πŸ“ˆ

Currently, LOOM is listed on Binance, UpBit, Huobi and LAtoken.

It is also listed on a few other exchanges but these are less reputable.

LOOM trading volume appears to be relatively well spread out across these exchanges.

Storage is pretty simple as these are ERC20 tokens. Any wallet that supports Ethereum.

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πŸ“œ Disclaimer πŸ“œ

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#Loomnetwork #LOOM #crypto #cryptozombies #Review #Ethereum #ERC20 #Binance #blockchain #dApp #trading #cryptocurrency #developers #SDK

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