loom
Blockchain News Cryptocurrency News Global Token Review Latest News

Top Trading ICOs: Loom Network

Loom Network is an Ethereum-based platform built for social media and online games. The platform is open source, scalable, forkable, and performant. Full-featured blockchains called DappChains exist on Loom – in essence, these are sidechains optimised to scale data. Loom SDK is a platform which makes it possible for developers to create their own sidechains.

The LOOM token (an ERC20 token) acts as an all-access pass for all dApps and DAppChains running on the platform, and its balance is checked every time a digital asset transfer attempt is made between DAppChains, DApps, and the Ethereum network. The minimum token required to execute a complete digital asset transfer is 1 LOOM token. The network is lightning fast and all tokens are backed by the Ethereum blockchain. The network continues to grow with the solutions it is offering – this growth is likely to help the Loom network flourish in the future and scale its trading volumes as more tokens are brought into use. 

Related posts

Smart Pension Welcomes Government’s New Fintech Strategy

thefintechtimes

Ten Tokens to Watch – July / August

thefintechtimes

The Blurred Lines of Fintech

thefintechtimes