Key metricsKey metrics
PricePrice$0.0728

Loom (LOOM) Information{coin_name} ({symbol}) Information

The LOOM token acts as a lifetime membership card to all DApps running on Loom Network. It allows you to transfer your data and digital assets between Loom DAppChains and the Ethereum mainnet. Currently you need only 1 LOOM, but in the future, higher membership tiers will be introduced.

Team OverviewTeam Overview

James
Co-Founder
Luke
Co-Founder
Matt
Co-Founder
Mike
Head of Business Development

Questions and AnswersQuestions and Answers

What Is Loom Network?
Loom Network is building a fundamental infrastructure platform to help Ethereum scale. It allows developers to run large-scale applications, and is the first Ethereum scaling solution to be live in production. In short, you can think of Loom Network as EOS on top of Ethereum. The 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. Think of it like a “build your own blockchain” generator. DAppChains: Each DApp on its Own Sidechain The Loom SDK generates what’s called a DAppChain — a Layer 2 blockchain that uses Ethereum as its base layer. Running each DApp on its own sidechain to Ethereum has a number of benefits, but most importantly: DAppChains can use alternative consensus rulesets (like DPoS) that optimize for high scalability. Using Ethereum as a base layer means DAppChain-based assets (like ERC20 and ERC721 tokens) can have the security guarantees of Ethereum, especially when backed by Plasma.
Understanding DAppChains
To better understand our core thesis on scaling and the benefits of DAppChains, read these two articles: DAppChains: Scaling Ethereum DApps Through Sidechains Million User DApps on Ethereum: An Introduction to Application-Specific Sidechains
The data of DApps running on Loom DAppChains is public and shareable.
With a traditional game or web service, if the developers decide to launch an update that users do not agree with or ban/censor an account, nothing can be done about it (except for filing a support ticket). Any data such as game progress up to that point in the game is impossible to access again. With a DAppChain, on the other hand, running a node gives its users a full copy of all the data since the DAppChain’s Genesis Block. This shareable and public data also allows for further innovation and the surfacing of entirely new concepts, such as two games sharing the same state. You could have a World of Warcraft-type game, where the world is created by players in a Minecraft-type game. The actions of the players in each world would affect the world of the other game. Developers could release a new game that uses character data from another game world stored on a DAppChain. That way, new users of the game could immediately jump into a new world with their existing characters and assets (essentially airdropping your old game’s data to the new game).
The LOOM Token
We have an article specifically devoted to explaining what the LOOM token is and how it works: https://medium.com/loom-network/loom-token-faqs-you-got-questions-we-got-answers-2d3c9185b4d0
What Progress Has Loom Network Made So Far?
The First DAppChain Went Live on March 14, 2018 You can try it out at DelegateCall.com — it’s similar in architecture to Steemit, but instead of being a blogging platform, it’s a Q&A site related to blockchain and Ethereum programming. On DelegateCall, you earn karma points when your questions and answers get upvoted, which are redeemable for an ERC20 token on Ethereum mainnet. Thus you can earn real money by contributing instead of just useless karma points. Try it out yourself by signing up and asking a question to see an example of how performant DAppChain-based DApps can actually be in production — it feels just like a normal web 2.0 app, even though it’s running 100% on the blockchain. Then check out the DelegateCall block explorer to watch the DelegateCall DAppChain get updated with your question in real-time.
What is DelegateCall?
DelegateCall is a Q&A site for Blockchain and Ethereum-related questions that runs fully on a Loom DAppChain. Users earn karma points when their questions and answers get upvoted. But unlike traditional Web 2.0 sites, on DelegateCall these karma points can be redeemed for a tradable ERC-20 “DelegateCall token” on Ethereum mainnet, allowing users to earn rewards proportional to their contributions to the site. You can think of DelegateCall as a mix between Steemit and StackOverflow, backed by Ethereum.
Bonded to Ethereum via a Relay
DPoS tends to have a bad rap in the blockchain community, because it’s less decentralized than PoW and PoS. This is a valid concern, but DPoS is also capable of handling a much higher transaction throughput per second than more decentralized consensus algorithms. So we have a bit of a conundrum. DApps need high throughput to rival traditional web apps (Twitter, for example, experiences 7,000 tweets per second). However, standalone DPoS blockchains will never be as trustworthy as a PoW blockchain like Ethereum. DappChains work around this issue by having the DPoS blockchain bonded symbiotically to a corresponding Ethereum Smart Contract via a Relay. Functioning as a single unit, users can transfer/trade their assets on Ethereum as simple ERC-20 Tokens while the application layer remains decentralized, fast, and cheap to use. The final result, as seen on DelegateCall, is a decentralized application on a scale that’s simply isn’t possible on Ethereum alone. Secure, standard-conforming, decentralized asset handling while retaining cheap and speedy transactions.
How does the DelegateCall.com website fit in?
You can think of DelegateCall.com as a convenience layer for interacting with the underlying DAppChain. While you don’t have to use the website to interact with the DelegateCall blockchain, it provides a convenient UI for doing so. (Similar to Steemit.com for Steem, or MyEtherWallet / EtherScan for Ethereum). The website is a Ruby on Rails app that reads from a cache of the underlying DAppChain data. The read-only cache (made up of a MySQL database and Elasticsearch) is simply a mirror of the data in the blockchain, and is updated every time a new block is published. The cache exists so the website can serve pages just as quickly as a standard web 2.0 app. When you go to DelegateCall.com, the data you’re seeing is pulled from this MySQL cache. The site also serves you a copy of the DelegateCall client built on Loom.js. Loom.js is a common interface layer for Loom DAppChains that’s responsible for signing transactions on the client side and formatting these transactions in the format the DAppChain is expecting them. You can think of it as the equivalent of Ethereum’s web3.js for Loom Network DApps. When you perform an action on the site (upvote an answer, post a comment, etc.), rather than sending the data to the DelegateCall.com web-server like a traditional web app would, instead Loom.js broadcasts your transaction directly to the DelegateCall DAppChain. Then there’s a worker process on DelegateCall.com that’s constantly listening for changes in the blockchain, and posting these new transactions simultaneously to the MySQL cache as well as Elasticsearch, so the changes on the underlying blockchain are reflected on DelegateCall.com.
LOOM Token Utilization
As we move forward and build out our tech, we’re constantly looking for additional ways to add more utility to the LOOM token. Two areas we’re most excited about here are around PlasmaChain and the Marketplace for Zombie Battleground (as well as other game items in the future). For PlasmaChain, we are going to open up staking later this year to become a validator of the chain. Validators will need to stake a large amount of LOOM tokens, and in turn will earn the LOOM fees paid by the developers who are hosting their DApps on PlasmaChain, as well as commission fees from the Marketplace. The second area we see driving high utilization in the near future is the Marketplace for Zombie Battleground. Users will pay a commission on every trade, but will get a large percentage of those commissions instantly refunded as “cashback” rewards in LOOM tokens, which we will be buying off the open market. LOOM will also be a native currency on the Marketplace, to be used for buying and selling items.
What is a DAppChain?
Loom Network allows developers to build large-scale games and social apps by using DAppChains — DApps running as their own sidechains. More specifically, a DAppChain is an Application Specific Sidechain, that runs parallel to a mainchain, Ethereum in this case. Its ruleset is customized based on the use-case, and its security is maintained by the mainchain’s consensus algorithm.

TechnicalTechnical

Key metricsKey metrics
PrivacyPrivacyPseudonymous
AlgorithmAlgorithmEthash
ProofProofProof of work
Token InformationToken Information
Loom is a token on the ETH platform using the ERC-20 standard. The address of the token contract is 0xA4e8C3Ec456107eA67d3075bF9e3DF3A75823DB0.

Source Code Repositories

loomnetwork/cryptozombie-lessons 483 Stars 118 Contributers 59 Open Issues

Lesson content for cryptozombies.io

loomnetwork/plasma-cash 262 Stars 11 Contributers 17 Open Issues

Plasma Cash Contract & Client. ERC721, ERC20, and ETH compatible

loomnetwork/go-loom 172 Stars 22 Contributers 37 Open Issues

Go package for building plugins and Go Smart Contracts for Loom DAppChains

EconomicsEconomics

Tradeable CoinsTradeable Coins
591,901,215 (59% of total) ({tradeable_of_total} of total)

Rich List Addresses holding the largest balances

AddressAddress AmountAmount NameName
0xff84ba8e8592eabc25fb99ba8775fa2a0e4c9cec 175,085,448.53
0x8f8e8b3c4de76a31971fe6a87297d8f703be8570 171,027,112.041
0x4e9ce36e442e55ecd9025b9a6e0d88485d628a67 157,401,664.183 Binance 6
0x3633626b370ee201056c537a181a459672e047cf 56,976,988.774
0xfbb1b73c4f0bda4f67dca266ce6ef42f520fbb98 37,463,546.901 Bittrex 1
0x86c04656c895bc8462952736755c6e0de8edfeb7 36,240,764.31
0x030e37ddd7df1b43db172b23916d523f1599c6cb 32,000,000
0x0b5b734f911dd7506ab4cd735425b21b574d9fb8 29,479,245.745
0x001866ae5b3de6caa5a51543fd9fb64f524f5478 20,000,000
0x5ed05b8c40b86bc9bce3bd76026dfbde7dfd6ab2 11,587,292
0xd489733fe94e753968710d877007fa629104c9ca 10,496,839
0x5c985e89dde482efe97ea9f1950ad149eb73829b 9,410,040.96 Huobi 5
0x689c56aef474df92d44a1b70850f808488f9769c 9,263,111.788 KuCoin 2
0x5a8782f24d88fd2a3cf15fc9e1aee91d51b76b1e 8,732,497.286
0x899b5d52671830f567bf43a14684eb14e1f945fe 8,513,842
0xa910f92acdaf488fa6ef02174fb86208ad7722ba 7,405,980.132 Poloniex 4
0xfd41e3da6c11bb35139c6a7d8a7453e6fe4effb9 6,392,022.01
0xbb14f90632066ab084e9236e45597163d69ee305 6,250,001
0x78a3057bb20cd410fcf01b527eefca0d31f02791 6,250,000
0xba826fec90cefdf6706858e5fbafcb27a290fbe0 6,174,282.82 Upbit 2

Exchange Markets

ExchangeExchange MarketMarket PricePrice DiffDiff Volume 24hVolume 24h SpreadSpread Spread $1kSpread $1k
Binance LOOM/BTC $0.0725 -0.36% $346,493 0.3% 1%
Upbit LOOM/KRW $0.0735 1.1% $143,729 0.35% 0.7%
Binance LOOM/ETH $0.0725 -0.32% $79,079 0.34% 1.3%
Bittrex LOOM/BTC $0.0726 -0.21% $30,594 0.75% 1.2%
Poloniex LOOM/BTC $0.0729 0.25% $16,508 0.9% 1.3%
Coinbase Pro LOOM/USDC $0.0723 -0.6% $15,095 0.45% 4.9%
Binance LOOM/BNB $0.0728 0.08% $12,219 1% 1.5%
Poloniex LOOM/ETH $0.0735 1% $7,871.25 1.1%
Poloniex LOOM/USDT $0.0728 0.02% $2,622.99 2.1%

Latest Loom NewsLatest Loom News

Loom Network on Twitter

3/3 ?? https://t.co/MmK9zdwuJD ?? https://t.co/gz43gmGJP8 ?? https://t.co/I8y4CHL5Ji ?? https://t.co/WPdGPZnpv9 ?? https://t.co/0A02YdxGyH ?? https://t.co/63xaWQVURB ??? https://t.co/i3UJTMv1S3 ?? https://t.co/My2BN8twol

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Loom Network on Twitter

2/3 ?? Loom integrates with @portis_io ?? @SorareHQ reaches 2k Player Cards sold milestone ??? @neondistrictRPG writes about their @techstars experience ?? @e11io starts their 4th weekend tournament Sources ??

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Loom Network on Twitter

Loom Universe Weekly Highlights ?? 1/3 ?? Loom hits ATH of 99K transactions in single day (10% of Ethereum) ?? CMO @jamesduffx interviews with @Brad_Laurie ?? NEW PlasmaChain Validator: @infstones ?? https://t.co/2OLQKLZ85R website revamped

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Loom Network on Twitter

We’ve rolled out support for Universal Transaction Signing with web3 provider @portis_io ?? Developers, find out how you can integrate Portis's buttery smooth wallet UX in your dapp ?? https://t.co/H3pzAp2jgc… https://t.co/LEKO5PDHoK

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Arkane.Network - Wallet as a Service 💜 on Twitter

With the latest update of Arkane developers are now able to set their custom RPC node address and network name using the Arkane SDK/API. Allowing developers to connect to sidechains such as @loomnetwork or @auctionity or any Ethereum testnet https://t.co/3v027pXG6z

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Loom Network on Twitter

TRON Developers, curious to know how to integrate your @Tronfoundation dApp with Loom and let users deposit/withdraw TRX? Check out this guide: https://t.co/lJy6DjlK5d

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Chjango Unchained ⛓ on Twitter

.@kanwisher: unrecognizable without his beard but nonetheless an integral part of the @loomnetwork x Cosmos x Plasma Cash interoperability mashup. EOS on Ethereum, anyone? #cosmosisworldwide… https://t.co/0NdDNsrqsA

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Loom Network on Twitter

? Only 3 days left until the end of the @BattleRacers pre-sale... Buy some wheels to drive into the newly-opened Beta ??? https://t.co/6DnH4xdcxr

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Loom Network on Twitter

We hit a new high of 99K transactions in a single day this past Saturday — 10.5% of Ethereum's transaction volume in the same day ??… https://t.co/Ad1ryGryhg

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The Creative Crypto Magazine on Twitter

We're very proud to work alongside @coin_artist and her team at @neondistrictRPG. Congratulations on completing the accelerator by @techstars x @alchemist_group, the first of its kind! #blockchain #ethereum #gaming #incubator #nyc https://t.co/r3zYhgKuVe

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This information is provided AS IS and is not adviceThis information is provided AS IS and is not advice. May contain errors or omissions. Please always do your own research before trading.May contain errors or omissions. Please always do your own research before trading.
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