Loom Price (LOOM)

Loom Network (¡°Loom¡± or the ¡°Project¡±) is a Layer-2 scaling solution for Ethereum that is a network of Delegated Proof of Stake (¡°DPoS¡±) sidechains, allowing for highly-scalable games and user-facing dApps while still being backed by the security of Ethereum.

Key Features of Loom:

Loom SDK: The fundamental building block of Loom Network is an SDK that allows developers to quickly build their own blockchains without having to understand blockchain infrastructure ¡ª a "build your own blockchain" generator.

Shared Sidechains: A network of interconnected, high-throughput sidechains, such as GameChain and SocialChain, that use Ethereum as their base-layer.

PlasmaChain: A Layer-2 hub that bridges multiple sidechains to Ethereum, allowing for faster and cheaper token transactions and a more performant chain for developers to deploy their dApps.

Delegated Proof of Stake: Loom supports DPoS out of the box, which enables dApps to scale with gasless transactions and sub-second transaction times. Online games and social apps are the two initial types of dApps that Loom is focusing on, but developers can build any type of dApp using the Loom SDK.

Secured by Plasma on Ethereum: Loom inherits the security of Ethereum mainnet on its Layer-2 sidechains by using Plasma Cash-based relays to transfer assets across chains.